Business
Company acquires Ohio hospitals
NEWS IN BRIEF — Posted Sept. 18, 2006
For-profit hospital chain Community Health Systems has signed a nonbinding letter of intent to buy the four hospitals and other assets operated by nonprofit Forum Health.
Forum, based in Youngstown, Ohio, disclosed the letter Aug. 23 and said its board of trustees had authorized its management team to negotiate a definitive agreement for the sale.
A spokeswoman for Community Health Systems said the Brentwood, Tenn.-based hospital operator would not comment on nonbinding agreements.
Forum's hospitals, all in Ohio, include Trumbull Memorial Hospital and Hillside Rehabilitation Hospital, both in Warren, and Northside Medical Center and Tod Children's Hospital, both in Youngstown.
Community Health Systems owns or operates 76 hospitals in 22 states. If the deal is completed, these would become the first hospitals Community operates in Ohio.
In the last year Forum has had management shakeups as part of its bid to swim out of a sea of red ink.
Note: This item originally appeared at http://www.ama-assn.org/amednews/2006/09/18/bibf0918.htm.
