Published: Wednesday, August 23, 2006
Forum in talks to sell all facilities
Details of the sale are still being worked out with the Tennessee-based company.
By WILLIAM K. ALCORN
YOUNGSTOWN — Forum Health has entered into a non-binding letter of intent to sell all of the hospital system's healthcare operations to a subsidiary of Community Health Systems.
In a letter sent to Forum employees Tuesday, Dr. Keith T. Ghezzi, interim president and chief executive officer, said the Forum Board of Trustees, at its Aug. 22 meeting, authorized the management team to negotiate a "definitive agreement with CHS for the sale of Forum Health's facilities."
Under the letter of intent, Ghezzi said the buyer would provide substantial resources and the investment capital necessary to upgrade Forum's facilities, enhance services and preserve quality health care and choice for this community.
A letter of intent is the first step in the process of exploration and evaluation to ensure that the terms of a definitive agreement are in the best interests of the community and Forum Health, Ghezzi said.
Through its subsidiaries, CHS, with headquarters in Tennessee, owns or operates 76 hospitals in 22 states. All CHS-affiliated hospitals work with a local governing board that has significant influence over hospital policies and operations, Ghezzi said in his letter.
Over the next several months, as negotiations continue, Forum will manage its facilities, maintain quality patient care, and communicate regularly with employees, physicians and the community, Ghezzi said.
To view the full letter from Ghezzi to the employees, visit www.vindy.com/more.
For a list of all Forum Health properties in Mahoning and Trumbull Counties, visit www.vindy.com/more.
For more information about CHS, visit www.chs.net.
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from vindyJOBS.com
