General Catalyst eyes health system acquisition

General Catalyst is launching a healthcare company with plans to purchase and operate a health system, the venture firm said Oct. 8. Former Intermountain CEO Marc Harrison, MD, will lead the effort.  

The Health Assurance Transformation Corporation, or HATCo, will build on General Catalyst's existing efforts to fund or develop technologies that transform healthcare. The firm already works with more than 20 health systems nationwide that have early access to technologies in General Catalyst's portfolio.

By acquiring and operating a health system for the long term, HATCo aims to create a national blueprint for healthcare delivery transformation, Dr. Harrison and General Catalyst CEO Hemant Taneja said in an Oct. 8 blog post.

"HATCo's charter is not to disrupt healthcare systems; rather, it is to be in service of healthcare organizations everywhere to change how they deliver a fundamentally better experience for consumers — and to prove the transformative effect of a true partnership between technologists, caregivers and capital," they wrote. 

Dr. Harrison left his role at Intermountain in August 2022. The health system had previously partnered with General Catalyst in May 2022 to accelerate the shift to value-based care through innovation.

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