Southfield, Michigan-based Beaumont Health and Akron, Ohio-based Summa Health have signed a Letter of Intent to develop a strategic partnership. The arrangement would strengthen both organizations’ cost-effective approaches to partnering with communities in new ways to the improve quality of care and overall health. The Letter of Intent signals the beginning of the process to draft definitive agreements to bring the two non-profit health systems together under Beaumont Health. The arrangement would allow for continued growth and expansion to serve consumers better in Michigan and Ohio. Summa Health would maintain local leadership, including a local board.
Beaumont Health has been strategically focused on regional expansion since its formation in 2014. The combined strength of Summa and Beaumont would allow both organizations to continue to invest in local health care and expand programs and services. SummaCare, Summa’s insurance product, would be able to expand into new markets in Ohio. Summa’s capabilities and expertise in risk-based health insurance contracts and services could benefit Michigan employers.
By working together from positions of strength, both organizations could maximize opportunities to deliver health care more efficiently and effectively. The agreement would build upon the commitment of both organizations to medical education and create more opportunities for medical students to train and work. Summa Health is one of the largest integrated health care delivery systems in Ohio with total annual revenues of $1.4 billion and employs approximately 7,000 people. The non-profit organization includes a network of four hospitals with a total of 1,300 licensed inpatient beds, community health centers, SummaCare, a physician-hospital and multi-specialty physician organization. After due diligence and approval from regulatory agencies, the two organizations plan to finalize the partnership by the end of the year.
Beaumont Health is Michigan’s largest health care system and is most preferred for health care in Southeast Michigan, according to NRC Health survey data. The non-profit organization was created to provide consumers with greater access to compassionate, extraordinary care, every day. Beaumont Health has a total annual net revenue of $4.7 billion and consists of eight hospitals with 3,429 beds, 145 outpatient sites, nearly 5,000 affiliated physicians, 38,000 employees and 3,500 volunteers. In 2018, Beaumont Health had about 178,000 inpatient discharges, 18,000 births and 573,000 emergency visits.
Summa Health is one of the largest integrated health care delivery systems in Ohio. Encompassing a network of hospitals, community health centers, a health plan, a physician-hospital organization, a multi-specialty physician organization, research, and the Summa Health Foundation, we are nationally renowned for excellence in consumer care and for exceptional approaches to health care delivery.
This was reported by Summa Health on July 10, 2019.
Contact information: Mark Geary, Media Relations Director, Beaumont Health, 26935 Northwestern Highway, Southfield, Michigan 48033; 947-522-2112; Email: email@example.com; Website: www.beaumont.org
Contact information: Mike Bernstein, System Director, Corporate Communications, Summa Health, 525 East Market Street, Akron, Ohio 44304; 234-312-5012; Email: firstname.lastname@example.org; Website: www.summahealth.org