Fitch Ratings recently called venture capital firm General Catalyst's proposed acquisition Akron, Ohio-based Summa Health adds an "unusual wrinkle" in a "make-or-break" year for nonprofit hospitals.
The deal, expected to be completed by the end of the year, would see Summa Health becoming a fully owned subsidiary of General Catalyst's Health Assurance Transformation Corp., or HATCo. If approved, Summa would be transformed from a nonprofit system to a for-profit organization.
Here are five things to know about Marc Harrison, MD, the CEO of HATCo:
1. Dr. Harrison holds a medical degree from Hanover, N.H.-based Dartmouth Medical School. He completed his pediatric residency and pediatric critical care fellowship at Salt Lake City-based Intermountain Healthcare’s Primary Children’s Hospital. He earned a Master of Medical Management degree from Pittsburgh-based Carnegie Mellon University.
2. Dr. Harrison is a two-time cancer survivor.
3. He held multiple leadership positions at Cleveland Clinic, including chief medical operations officer, CEO of Cleveland Clinic Abu Dhabi and chief of international business.
4. He became CEO of Intermountain in 2016. His tenure at the health system included a merger with Broomfield, Colo.-based SCL Health.
5. Dr. Harrison departed his role at Intermountain in 2022 to helm HATCo. He recently told Becker's that when HATCo was formed, he felt his purpose became to "try and help make stepwise change for an industry I love and communities I admire."