Insight Health Officially Assumes Ownership of Trumbull Hospitals
WARREN, Ohio – Trumbull Regional Medical Center in Warren and Hillside Rehabilitation Hospital in Howland are now officially owned by Insight Health System.
Insight, a Michigan-based health care provider, had been serving as the interim manager while indicating it was interested in owning the two Trumbull County hospitals. No price was listed for the sale.
Insight submitted its intention to purchase the hospitals in September after Steward Health Care System shared its intention to close them. Steward filed for bankruptcy May 6 in U.S. District Court in Houston, Texas. Notices were filed in August that would have closed both of the hospitals.
“Trumbull and Hillside are operating at full capacity and were already seeing increased patient volumes in less than a month after Insight took over operations,” Dr. Rany Aburashed, corporate chief medical officer for Insight, said in a news release. “These organizations have top-notch programs and great physicians, and we have a feeling the community will be very excited when we’re able to fully put our fingerprints on every aspect of their operations.”
Though Medical Properties Trust continues to own the real estate properties, Insight intends to purchase all assets in the future, the release states. MPT has agreed to rent concessions in the lease agreement, according to Insight.
According to the release, Insight has no plans to reduce service lines at the hospitals.
“The Insight team came in and immediately went to work assessing our operations from top to bottom, identifying opportunities to make improvements that will establish long-term financial stability and improve patient care,” said Cindy Russo, president of Trumbull Regional Medical Center. “I look forward to working closely with Insight to continue to implement their vision for Trumbull and Hillside to ensure our community has access to patient care second to none for decades to come.”
Pictured at top: Trumbull Regional Medical Center in Warren.
Copyright 2024 The Business Journal, Youngstown, Ohio.
