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Summa Health to be acquired by Michigan-based Beaumont Health

The two organizations plan to finalize the partnership by the end of the year.

Akron-based Summa Health has signed a Letter of Intent to become a wholly-owned subsidiary of Beaumont Health, Michigan's largest health care system. 

Summa Health would maintain local leadership, including a local board.

Beaumont Health has annual revenues of $4.7 billion and consists of eight hospitals with 3,429 beds, 145 outpatient sites, nearly 5,000 affiliated physicians and 38,000 employees.

“Our board believes Beaumont Health would position our leadership, physicians and employees for continued success and enhance the quality of care provided to our patients in Akron and Northeast Ohio. Before making this decision, we announced we were seeking a partner in September 2018 and received responses from multiple health care systems in Michigan as well as several in Ohio and other states. Beaumont understands and supports our commitment to the communities we serve and will invest in our future growth in Ohio," Summa Health CEO Dr. Cliff Deveny said in a statement. 

Summa Health's total annual revenues are $1.4 billion and the company employs approximately 7,000 people throught a network of four hospitals with a total of 1,300 licensed inpatient beds, community health centers, SummaCare, a physician-hospital organization and a multi-specialty physician organization.

“Beaumont Health and Summa Health are already strong and successful health care leaders. By welcoming Summa into the Beaumont family, both organizations will share expertise, invest in each other and continue to thrive as the industry evolves,” Beaumont Health CEO John Fox added in the statement. “As we expand into Ohio, we will continue to invest in our Michigan employees and operations. This year, we will launch 30 new urgent care centers. Plans to build a new mental health hospital in Dearborn and three new outpatient campuses in Livonia, Lenox Township and Royal Oak are moving forward as well.”

After due diligence and approval from regulatory agencies, the two organizations plan to finalize the partnership by the end of the year.

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