Forum trustees intend to sell health system

YOUNGSTOWN — Forum Health has stemmed the financial bleeding that had the company on the fast track to bankruptcy two years ago, but its board of trustees remains intent on selling the health system.

“There was a time when we thought we might be able to keep it operating as it was. But it quickly became clear to us that primarily because of the lack of investment capital, we needed to look for a buyer,” said Thomas Hollern, board president.

Because of the actions taken over the past two years, resulting in $64 million in cost reductions and increased revenue and $28 million in concessions from union and non-union employees, “Forum Health is worth considerably more today than it was two years ago,” Hollern said.

For more, see Friday’s Vindicator and Vindy.com