Sharon Regional Health in talks to be sold to CHS - WFMJ.com News weather sports for Youngstown-Warren 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.

 

  • More From wfmj.comHot ClicksMore>>

  • Admirers line streets as Graham's body arrives in Charlotte

    Admirers line streets as Graham's body arrives in Charlotte

    Saturday, February 24 2018 6:46 PM EST2018-02-24 23:46:43 GMT
    (AP Photo/Nell Redmond, File). FILE - In this Dec. 20, 2010 file photo, evangelist Billy Graham, 92, speaks during an interview at the Billy Graham Evangelistic Association headquarters in Charlotte, N.C. Graham, who died Wednesday, Feb. 21, 2018, at h...(AP Photo/Nell Redmond, File). FILE - In this Dec. 20, 2010 file photo, evangelist Billy Graham, 92, speaks during an interview at the Billy Graham Evangelistic Association headquarters in Charlotte, N.C. Graham, who died Wednesday, Feb. 21, 2018, at h...
    The Rev. Billy Graham's body will be brought to his hometown of Charlotte on Saturday as part of a procession expected to draw crowds of well-wishers.More >>
    The Rev. Billy Graham's body will be brought to his hometown of Charlotte on Saturday as part of a procession expected to draw crowds of well-wishers.More >>
  • As Olympics wrap up, still no coverage in North Korea

    As Olympics wrap up, still no coverage in North Korea

    Saturday, February 24 2018 6:46 PM EST2018-02-24 23:46:14 GMT
    (AP Photo/Charlie Riedel). North Korean cheerleaders perform during the first run of the women's slalom at the 2018 Winter Olympics in Pyeongchang, South Korea, Friday, Feb. 16, 2018.(AP Photo/Charlie Riedel). North Korean cheerleaders perform during the first run of the women's slalom at the 2018 Winter Olympics in Pyeongchang, South Korea, Friday, Feb. 16, 2018.
    While millions of people around the world get ready to watch the closing ceremony of the Pyeongchang Winter Olympics, North Koreans are still waiting to see the first event.More >>
    While millions of people around the world get ready to watch the closing ceremony of the Pyeongchang Winter Olympics, North Koreans are still waiting to see the first event.More >>
  • After years of dejection, proponents of gun laws see hope

    After years of dejection, proponents of gun laws see hope

    Saturday, February 24 2018 6:46 PM EST2018-02-24 23:46:02 GMT
    (Michael Laughlin/South Florida Sun-Sentinel via AP, File). FILE - This Feb. 21, 2018 file photo shows Marjory Stoneman Douglas High School student Cameron Kasky, left, asking a question to Sen. Marco Rubio during a CNN town hall meeting in Sunrise, Fl...(Michael Laughlin/South Florida Sun-Sentinel via AP, File). FILE - This Feb. 21, 2018 file photo shows Marjory Stoneman Douglas High School student Cameron Kasky, left, asking a question to Sen. Marco Rubio during a CNN town hall meeting in Sunrise, Fl...
    "Our kids have started a revolution:" Teens' activism after Florida school shooting has some hopeful for action on gun policy.More >>
    "Our kids have started a revolution:" Teens' activism after Florida school shooting has some hopeful for action on gun policy.More >>
Powered by Frankly
All content © Copyright 2000 - 2018 WFMJ. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms