Tribune Chronicle

WARREN — ValleyCare Health System of Ohio has a new owner.

Community Health Systems announced Monday it has completed its sale of eight hospitals, including Trumbull Memorial Hospital in Warren, Hillside Rehabilitation Hospital in Howland and Northside Medical Center in Youngstown, to Boston-based Steward Health Care System.

Steward said the acquisition increases its footprint to 18 hospitals nationally, with 23,000 employees and more than 3,000 physicians.

“As we expand our integrated, community-based health care model to new regions, we look forward to ensuring the highest level of care for our new patients. We are proud to welcome the patients, employees and physicians in these communities to the Steward family,” stated Dr. Mark Girard, president of Steward, stated in a news release.

Franklin, Tenn.-based CHS has said it plans to apply proceeds of the transaction to pay down debt. Terms of the transaction have not been disclosed.

In February, CHS announced plans to sell its hospitals in Ohio, Pennsylvania and Florida to Steward.

The three Ohio hospitals operated as units of CHS subsidiary ValleyCare Health System of Ohio.

The transaction also included Sharon Regional Health System in Sharon, Pa.

CHS acquired the local hospitals when it bought Forum Health out of bankruptcy Oct. 1, 2010, paying $120 million.

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