The narrative has been revised to include additional details and corrected to address a mistake.
Dr. Marc Harrison, a key figure in the development of Health Assurance Transformation Company’s upcoming purchase of a Akron-based entitySumma Health, will not be in charge when the deal is finalized later this year.
HATCo revealed on July 31 that Harrison is resigning immediately from his position as chief executive officer of the profit-driven company but will still offer his knowledge to co-founder Hemant Taneja, who serves as the CEO of venture capital firm General Catalyst, the owner of HATCo.
Harrison, who previously held the roles of president and CEO at Intermountain Health and CEO at Cleveland Clinic Abu Dhabi before co-founding HATCo, will act as a strategic advisor to Taneja, according to an email from General Catalyst Partner and Chief of Staff Molly Blaauw.
HATCo’s strategy has “appropriately evolved,” Blaauw Gillis stated, noting: “It became increasingly evident to both Marc and us that Marc’s role would be most effectively fulfilled as a strategic advisor to Hemant Taneja as we realize that ambition and vision. This updated structure enhances stronger integration and cooperation with the GC ecosystem and flywheel, while enabling Marc to offer his clinical perspective on major trends in our industry as we move into this next crucial stage of our journey to make health assurance a reality for everyone.”
We appreciate Marc’s guidance and teamwork as co-founder and CEO in bringing us to this stage in HATCo’s development, and we are excited to use his valuable insights as we move forward.
Summa’s President and CEO, Dr. Cliff Deveny, stated in an email, “Dr. Harrison has been a crucial ally and supporter of Summa Health’s deal with General Catalyst and HATCo.”
Harrison was instrumental in community discussions following the announcement of the deal. He met with Akron Mayor Shammas Malik and other local officials to reassure them that Summa will continue to prioritize patients and uphold quality care standards, despite concerns regarding the shift of the healthcare system to a for-profit model under venture capital ownership.
Who is currently leading HATCo in place of Dr. Marc Harrison?
Blaauw Gillis revealed two more adjustments in HATCo’s leadership.
Daryl Tol is taking on the position of president. Tol is currently leading General Catalyst’s health assurance ecosystem, according to Blaauw Gillis, and the role of CEO will remain unfilled.
Kate Walsh will be the chair of the Summa Health board once HATCo finishes acquiring Summa, according to Blaauw Gillis. Walsh will also be a member of HATCo’s board; Taneja is the chair, Blaauw Gillis mentioned.
“Tol has been overseeing our transformation and integration initiatives on the ground in Akron,” Blaauw Gillis stated.
“As president, Daryl will continue to lead our daily collaboration with Summa leadership, including … Deveny, and the GC/HATCo team, ensuring a smooth transition. He will also act as a key contact within the General Catalyst health assurance ecosystem, which he oversees, to integrate the best ideas, processes, and technologies from innovative entrepreneurs and progressive healthcare systems,” Blaauw Gillis stated.
Tol’s biography on the General Catalyst websitestated that the ecosystem he oversees “seeks to combine the top concepts, methods, and innovations from innovative startups and progressive healthcare organizations.”
Tol held executive positions for twenty years within regional and national healthcare organizations, such as serving as CEO of AdventHealth’s Central Florida Division.
Deveny stated that Tol “has played a key role in integrating HATCo and Summa since the start, leading our daily cooperation on the ground in Akron. We greatly appreciate his dedication to Summa Health’s culture and the communities we support, along with his knowledge and thorough understanding of our organization. We are excited about continuing to work with Daryl and HATCo to redefine the future of healthcare together.”
Walsh previously held the position of Massachusetts Secretary of Health and Human Services and previously worked as president and CEO of the Boston Medical Center Health System.
“Kate offers a deep well of expertise and background, and we are thrilled to collaborate with her on the upcoming phase for both Summa Health and HATCo,” Blaauw Gillis stated.
Deveny stated that Walsh “has a strong dedication to helping others, and her extensive understanding of the industry will be a significant advantage as we develop things at Summa.”
The leadership shift at HATCo does not indicate a change in direction, but rather a strengthening of the strategy and dedication to Summa Health,” Deveny stated. “We are collectively forging a sustainable, innovative path ahead to better support our community.
George Strickler, the current chair of the Summa board, will continue to be involved with the hospital system moving forward, according to Mike Bernstein, a spokesperson for Summa, who shared this information via email. He also mentioned that Summa plans to provide additional information about the board once the transaction is finalized.
What’s new with the Summa-HATCo transaction?
The Summa and HATCo teams anticipate the deal will be finalized during the fourth quarter of this year, according to Bernstein.
“We are concentrating on finishing the remaining steps required to conclude the deal and will share more information once it is available,” Bernstein stated.
HATCo’s acquisition of Summa has been approved by the Cayman Islands Monetary Authority, according to Bernstein. This approval marked the last regulatory clearance needed for the transaction to be finalized. Earlier,The Office of the Ohio Attorney General gave approval to the acquisition, subject to certain conditions.. Spokespersons for Summa also verified the Ohio Department of Insurance and the U.S. Federal Trade Commissionapproved the deal.
Patrick Williams reports on growth and development for the Akron Beacon Journal. You can contact him via email at pwilliams@gannett.com or follow him on X @pwilliamsOH. Subscribe to the Beacon Journal’s business and consumer newsletter, “What’s The Deal?”
This piece first was published in the Akron Beacon Journal:Dr. Marc Harrison, who supported the agreement to purchase Summa Health, has stepped down as CEO of HATCo.
