Community Health Systems plans to eliminate 81 positions from Forum Health, the Youngstoen, Ohio, hospital system it acquired for $120 million in October. WKRN in Ohio reports:
The announcement was made Tuesday, just five months after Community Health Systems bought Forum Health, and it emerged from bankruptcy. "Eliminating jobs is very difficult," said David Fikse, Northside Medical Center and Health System CEO, in a release. "We know this decision has a real and direct impact on the lives of those affected. At the same time, we must make these adjustments in order to restore and strengthen our hospitals so that we may remain open and ready to care for our patients and to provide jobs for local residents." He goes on to say that the hospitals have been through challenging times, and as they continue to grow while the economy recovers, they hope to add jobs again.
Feb 16, 2011 7:57 AM
The Business Journal Daily in Ohio has a story today focusing on the current and future upgrades Community Health Systems has in store for Forum Health.
Much of what CHS has purchased since October for the hospitals and satellite operations, such as its medical parks in Austintown and on Elm Road, isn't "sexy [but] they're things that were very necessary for patient care and for the ability of our physicians and nurses to take care of the patients," he said. That capital spending -- part of the $80 million that CHS had pledged for upgrades over the next five years before it closed the purchase -- has ranged from replacing most of the patient beds and all of the intravenous pumps in the hospitals to changing all of the furniture and converting all of the television sets to flat screens in patient rooms, Fikse reported. Other funds have been spent on new ventilators and anesthesia machines in the operating rooms.CHS purchased the Youngstown-based health system out of bankruptcy for $120 million.
Jan 27, 2011 1:58 PM
Community Health Systems is beginning to make its promised $80 million worth of upgrades to newly-acquired Ohio health system Forum Health. The Business Journal Daily reports that Franklin-based CHS has is making $10 million in equipment upgrades through the end of the year, including new surgical suite equipment, computerized intravenous therapy pumps, vital sign monitors, anesthesia machines and monitors, and $2 million worth of hospital beds.
Oct 15, 2010 12:03 PM
Community Health Systems closed on two deals Friday — its purchase of Forum Health in Ohio and Bluefield Regional Medical Center in West Virginia. The Forum deal comes at a price of $120 million, a dollar amount reached through a bankruptcy auction in which CHS beat out local competitor Ardent Health Services. The price for 256-bed Bluefiled was not disclosed. Franklin-based CHS owns or operates 126 hospitals in 29 states.
Oct 1, 2010 3:15 PM
Key public-employee unions have approved two-year agreements with Community Health Systems, which is in preparing to close on its purchase of Forum Health.
All three agreements contain wage freezes for the length of the contracts, which extend the current pacts by two years, incorporates the hospitalization plan proposed by Ardent Health Services Inc., which had sought to purchase Forum, and provides a 401(k) contribution match, Connelly said.
Sep 28, 2010 11:29 AM
Units of the Ohio Nurses Association and Service Employees International Union have approved labor agreements Community Health Systems for Ohio's Forum Health, which the Franklin hospital operator is in the process of buying. According to the Business Journal Daily, bargaining units of the American Federation of State, County and Municipal Employees have reached a tentative agreement with CHS and will vote on the contract Monday.
The AFSCME agreement is "an amalgam" between the contract that had been negotiated with Ardent Health Services Inc. of Nashville, Tenn., which had earlier reached a deal to acquire Forum's assets, and the current pact with Forum, said Tom Connelly, president of AFSCME/United Nurses Association Local 2026, which represents registered nurses at Trumbull. The tentative agreement is "concessionary" but the concessions aren't as extensive as in the agreement negotiated with Ardent, Connelly said. "We're pleased with it, actually," he remarked.
Sep 23, 2010 9:22 AM
Ohio Attorney General Richard Cordray on Monday approved Community Health Systems' planned $120 million acquisition of Forum Health, clearing the way for the company to close the deal by October 1, the Business Journal Daily reports. From the story:
The attorney general said his office's review found that CHS was making a "significant commitment to the future" of the three hospitals that are now part of Forum, pledging a minimum of $80 million to renovate and upgrade its facilities, and adopting an indigent care policy to provide free or discounted care and to participate in Medicare and Medicaid for at least the next five years. The review also found "no apparent conflicts of interest or breaches of fiduciary duty," he said. "The purchase price of $120 million is sufficed to pay the secured creditors, which means that the foundation assets will not be touched," he added, which had been a concern for many in the community. The bid was nearly double that of the $69.8 million sale price initially offered by Ardent Health Services of Nashville, Tenn., he said.In addition, the Business Journal Daily reports several labor groups that represent the hospital voted on agreements with CHS yesterday. The Ohio Nurses Association/Youngstown General Duty Nurses Association ratified an agreement. Service Employees International Union members will continue their voting today and CHS and bargaining unites affilated with the American Federation of State, County and Municipal Employees are set to meet tomorrow.
Sep 21, 2010 2:24 PM
According to The Vindicator, this is a big week for Community Health Systems' planned $120 million purchase of Ohio's Forum Health. The health system's labor unions will vote on agreements with CHS this week and the Ohio Attorney General will issue his opinion on whether CHS' acquisition of the bankrupt hospital system may proceed. CHS outbid Ardent Health Services in a bankruptcy auction for Forum in August. Get the background here and here.
Sep 20, 2010 11:22 AM
Ohio's attorney general says his team needs more time to complete its review of Community Health Systems' planned acquisition of Youngstown's Forum Health hospital network. In the end, though, it may not mean a whole lot for the $120 million deal.
Although Cordray has repeatedly said that federal bankruptcy law "explicitly" recognizes, respects and accommodates the state's role in reviewing the sale, it is unclear what impact, if any, a negative recommendation would have on the process.
Aug 24, 2010 10:58 AM
The Ohio health system set to be acquired by Community Health Systems must pay the federal government $2.9 million for accidental Medicare overbillings. Three-hospital Forum Health voluntarily disclosed the coding problem to the Centers for Medicare and Medicaid Servcies, according to the local report, upon discovering its billing system was automatically associating two codes instead of letting employees determine whether both should be used. CHS earlier this month won an auction against Nashville's Ardent Health Services to purchase Forum out of Chapter 11 bankruptcy.
Aug 20, 2010 11:12 AM
- ALEX B FRUIN INHERITANCE TRUST; CANDACE F STEFANSIC INHERITANCE TRUST; CANDANCE F STEFANSIC INHERITANCE TRUST; FRUIN, ALEX B TRUSTEE; FRUIN ALEX B INHERITANCE TRUST; STEFANSIC, CANDACE F TRUSTEE; STEFANSIC CANDACE F INHERITANCE TRUST; STEFANSIC CANDANCE F INHERITANCE TRUST
- ROSS, BRIDGETT D
- COOKE, ETHEN LANYARD TRUSTEE; COOKE, ETHEN LEWIS ESTATE
- JACOBS, JESSICA ALEXANDRA; JACOBS, ERIKA BESS