Akron, Ohio-based Summa Health has finalized a deal with General Catalyst’s Health Assurance Transformation Company, creating a new partnership the organizations say is designed to strengthen operations and modernize care delivery. The agreement, completed Oct. 1, transitions Summa into a for-profit, taxable health system backed by a “significant investment” from HATCo, a subsidiary of the venture capital firm General Catalyst, according to a news release.

In November, Summa and HATCo signed a $485 million definitive agreement to pursue the transaction, Becker’s previously reported. The purchase amount was intended to help Summa pay off $850 million in debt, transition to a for-profit structure and fund a separately governed community foundation in Akron. The deal received conditional app

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