Sharon Regional Health in talks to be sold to CHS - 21 News Now, More Local News for Youngstown, Ohio -

Sharon Regional Health in talks to be sold to CHS

Posted: Updated:

SHARON, Pa. - A deal is in the works that would result in the sale of Sharon Regional Health System to Community Health Systems; the same for-profit company that operates Northside Hospital in Youngstown, as well as Trumbull Memorial and Hillside Hospitals in Warren.

According to a news release from Sharon Regional, the health system plans to affiliate with Community Health Systems Inc. The statement characterizes the move as a strategic transaction that will bring capital investments and other resources.

The release also says that the Cleveland Clinic will participate in clinical program development, quality improvement, and branding through its alliance with Community Health Systems (CHS).

Sharon Regional's Board of Directors has unanimously approved and executed a non-binding letter of intent for a sale of the Health System's assets to a subsidiary of Community Health Systems. Sharon Regional must now negotiate over the terms of the transaction.

 The statement says that when the deal closes, employees in good standing will be hired at the same rate of compensation with years of seniority recognized. The release says they also plan to maintain the current medical staff as well as recruit new physicians.

A definitive agreement is expected later this year. The transaction will be subject to closing conditions and regulatory approvals.

 Through its affiliates, Community Health Systems currently operates 135 hospitals in 29 states, including seventeen in Pennsylvania and four in Ohio. In March, Community Health Systems and Cleveland Clinic announced a strategic alliance to advance quality, cost-effective healthcare, according to the release.

 

  • SpotlightSpotlightMore>>

  • Updated

    The Scrappers host “POPS at the Ballpark” featuring the Youngstown Symphony Orchestra

    The Scrappers host “POPS at the Ballpark” featuring the Youngstown Symphony Orchestra

    Tuesday, April 15 2014 2:04 PM EDT2014-04-15 18:04:57 GMT
    NILES, Ohio – The Mahoning Valley Scrappers and the Youngstown Symphony Orchestra are excited to host one of the Valley's premiere summer events, POPS at the Ballpark,More >>
    NILES, Ohio – The Mahoning Valley Scrappers and the Youngstown Symphony Orchestra are excited to host one of the Valley's premiere summer events, POPS at the Ballpark, presented by Stanley E. Shearer with Northwestern Mutual and 21 WFMJ on Saturday, August 23, 2014 at Eastwood Field.More >>
  • Around the WebMore>>

  • Boston Marathon organizers confident of safe race

    Boston Marathon organizers confident of safe race

    Police stepped up patrols near the Boston Marathon finish line after a masked man walked in the street with a rice cooker in his backpack only hours after the city marked the anniversary of last year's deadly...More >>
    The arrest of a man with a rice cooker in his backpack near the Boston Marathon finish line led police to step up patrols Wednesday, while organizers sought to assure the city and runners of a safe race next week.More >>
  • Low of 19 degrees in Toledo breaks 139-year record

    Low of 19 degrees in Toledo breaks 139-year record

    Wednesday, April 16 2014 6:34 PM EDT2014-04-16 22:34:39 GMT
    TOLEDO, Ohio (AP) - Winter temperatures are refusing to go away in northwestern Ohio. The thermometer dropped to 19 degrees in Toledo Wednesday morning, breaking a 139-year-old record for the same dateMore >>
    TOLEDO, Ohio (AP) - Winter temperatures are refusing to go away in northwestern Ohio. The thermometer dropped to 19 degrees in Toledo Wednesday morning, breaking a 139-year-old record for the same dateMore >>
  • Break-in suspect rescued from Ohio restaurant vent

    Break-in suspect rescued from Ohio restaurant vent

    Wednesday, April 16 2014 6:26 PM EDT2014-04-16 22:26:35 GMT
    MANSFIELD, Ohio (AP) - Police say an Ohio man suspected of breaking into a restaurant overnight became stuck in a ventilation duct, triggered a fire alarm and had to be rescued by emergency responders. TheMore >>
    MANSFIELD, Ohio (AP) - Police say an Ohio man suspected of breaking into a restaurant overnight became stuck in a ventilation duct, triggered a fire alarm and had to be rescued by emergency responders. TheMore >>
Powered by WorldNow
All content © Copyright 2000 - 2014 Worldnow and WFMJ. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms