Southfield, Michigan-based Beaumont Health and Akron, Ohio-based Summa Health have signed a definitive agreement to make Summa Health a subsidiary of Beaumont Health. The arrangement will strengthen both organizations’ ability to partner in new ways to improve the quality of care and the overall health of their communities. The two organizations signed a Letter of Intent in July and then began an extensive review of both organizations’ clinical, regulatory and financial systems. Signing the definitive agreement is the next step in the process of bringing Summa into the Beaumont family. The newly combined organization will utilize the financial strength of both organizations to fund the health system’s overall plan, which includes significant capital and operating projects, to drive ongoing growth in Northeast Ohio and Michigan.
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