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ProMedica eyeing new merger deal with Summa Health

Roughly three months after finalizing its $4.4 billion acquisition of HCR ManorCare, Toledo, Ohio-based ProMedica is reportedly interested in merging with Akron, Ohio-based Summa Health, The Blade reports.

ProMedica President and CEO Randy Oostra told The Blade Oct. 18 the health system is interested in Summa Health. He noted ProMedica and Summa Health explored a deal about seven years ago, but ProMedica ultimately passed, as the terms of the deal were not suitable at the time.

Mr. Oostra said ProMedica has not issued a formal merger proposal for the three-hospital system, but has continued conversations with Summa Health throughout the years.

ProMedica finalized its acquisition of the Toledo-based nursing home chain HCR ManorCare in July. With the acquisition, ProMedica is one of the 15 largest health systems in the U.S. by revenue, according to the report.

Summa Health revealed plans to begin searching for a partner in September.

To access the full report, click here.

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