General Catalyst, a venture capital firm, is planning to acquire Summa Health, a nonprofit health care system in Akron, Ohio, and convert it into a for-profit entity. This move is considered unprecedented in the venture capital industry and is seen as a significant shift for the firm, which has been expanding into different areas including healthcare. The deal is expected to involve significant changes, including the distribution of technology and the potential for health care reinvention. The success of the deal is said to depend on physician buy-in.
Physician buy-in will make or break VC firm General Catalyst’s bold hospital deal. https://t.co/qrmadtNGfo
Venture capital firm General Catalyst plans to buy Akron, Ohio, health system Summa Health, which it will convert into a for-profit. This is an unprecedented deal for venture capital. https://t.co/yHeFuqshIv
Been fascinating to watch General Catalyst, originally Boston VC firm, shift its center of gravity west ~15yrs ago, expand into growth, now acquiring smaller VC firms in Europe & India, buying a healthcare system to distribute tech, etc. Making moves into multi-strategy.
Innovation Economy: General Catalyst, a Cambridge venture capital firm, announced Wednesday that it would buy Summa Health, a nonprofit health care system in Akron, Ohio. Could the deal become a model of health care reinvention, asks @scottkirsner? https://t.co/51BjN6kDyT
General Catalyst becomes first venture capital firm to run a health system with plans to buy and convert Summa Health to for-profit. https://t.co/3iWlWpU4LS @erinbrodwin
VC Firm General Catalyst Plans To Buy Ohio-Based Hospital Summa Health https://t.co/e15v7Y4E8g