AKRON -- The Summa Health System Board of Directors approved a Letter of Intent with Cincinnati-based Catholic Health Partners (CHP) to create a strategic partnership, pending final negotiations.
The decision comes following Summa's announcement in July that it would seek a like-minded, larger non-profit partner to enhance its strategic initiatives and strengthen its financial position in exchange for a minority interest in the organization in which Summa retains majority ownership and local control.
The decision to seek a potential partner is part of Summa's three-year strategic planning process, which includes multiple initiatives to prepare the organization for a new era of healthcare.
WKYC-TV