Biotech
Monday, March 4th, 2024 4:18 pm EDT
Key Points
- Dr. Marc Harrison transitions from healthcare to venture capitalism, joining General Catalyst to lead a unique effort in transforming traditional healthcare systems.
- General Catalyst’s acquisition of Summa Health marks a significant move in the venture industry, aiming to introduce tech-enabled solutions and transition Summa to a for-profit model.
- The Health Assurance Transformation Corporation (HATCo), led by Harrison, seeks to bring sustainable innovation to Summa, transitioning to a value-based care model while addressing community concerns and navigating the complex healthcare landscape.
Dr. Marc Harrison, previously CEO of Intermountain Healthcare, joined venture firm General Catalyst, marking a unique shift from healthcare to venture capital. General Catalyst’s acquisition of Summa Health, a non-profit integrated health system, signals its venture into transforming traditional healthcare systems into tech-enabled, for-profit entities. Harrison now leads the Health Assurance Transformation Corporation (HATCo), focusing on a holistic transformation of Summa, introducing digital and in-person care solutions. While unprecedented in the venture industry, General Catalyst has a history in healthcare, particularly digital health. However, the transition of non-profit hospitals to for-profit models raises concerns about patient care and financial motives. HATCo aims to introduce innovative models of care, transitioning Summa to a value-based care model. Despite skepticism and community concerns, Harrison sees this as an opportunity to revolutionize healthcare delivery without compromising patient care. HATCo’s success could redefine the role of venture capital in healthcare innovation, although it’s a challenging endeavor with uncertain outcomes.
For the full original article on CNBC, please click here: https://www.cnbc.com/2024/03/02/heres-why-general-catalyst-is-trying-to-buy-summa-health.html
