Beaumont Health is ending partnership plans with Akron-based Summa Health. The two organizations had been working over the last year to create a partnership, signed a definitive agreement in December 2019 and later received all necessary state and federal regulatory approvals. The organizations are now finalizing details and next steps to end the planned partnership, according to a news release.
Throughout this process, each of the organizations has continued to operate independently, and each expects to continue to focus on providing exceptional health care services for their respective markets. The combined organization was expected to utilize the financial strength of both organizations to fund the health system's overall plan, which included significant capital and operating projects, to drive ongoing growth in both Northeast Ohio and Michigan.
“Both Beaumont Health and Summa Health value the support that each organization has received from their employees, physicians and communities throughout this process and will continue to work to meet their needs moving forward,” the news release states.
Beaumont is Michigan's largest health care system with $4.7 billion in total annual net patient revenue and is most preferred for health care in Southeast Michigan, according to NRC Health survey data. Summa is one of the largest integrated health care delivery systems in Ohio with total annual revenues of $1.4 billion. The not-for-profit health system employs about 7,000 people and includes a network of four hospitals with a total of 1,300 licensed inpatient beds.