SHARON, Pa. – The operator of Meadville Medical Center, an independent hospital, has offered to operate Sharon Regional Medical Center if an investor can be found.
Don Wroten, MMC’s vice president of consumer engagement, said Thursday that the company has submitted a letter of interest to a broker working on behalf of Steward Health Care, which filed for Chapter 11 bankruptcy protection on May 6.
Since the bankruptcy, Steward has been trying to sell or close all 31 hospitals in eight states, including three local hospitals: Sharon Regional Hospital, Trumbull Regional Medical Center in Warren and Hillside Rehabilitation Hospital in Howland.
In May, Cain Brothers, a unit of Cleveland-based KeyBanc Capital Markets Inc., acted as broker for Steward Hospital.
Wroten said MMC is not interested in taking over the hospital financially, only in running it while ensuring residents continue to have access to the local health care currently provided by Sharon Regional Hospital.
“We certainly don’t want this process to disrupt the hospital’s finances. Whatever our involvement is, if it does come to fruition, we want to make sure that investments are made to make sure it’s viable,” Wroten said.
The Sharon Regional property was sold along with other Steward facilities to Medical Properties Trust prior to the bankruptcy.
MMC operates Titusville Hospital, a 230-bed hospital in Meadville, Pa., which is a 25-bed critical access hospital, according to Wroten.
“We’re an independent community hospital, like Sharon Hospital used to be, and we want to play a role in ensuring health care for the community if we can. We want to help, but it’s obviously a tough road,” Wroten said.
Wroten said he had not been told if there was a date for knowing whether MMC’s proposal was accepted.
It was initially reported that there had been no “qualified” bids for the local hospital as of July 30, but court documents later noted that there had been late bidders. A hearing to consider the sale of the local hospital was originally scheduled for Tuesday in U.S. Bankruptcy Court in Houston but was postponed to Monday. No additional dates have been scheduled.
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