Potential buyer for Trumbull Memorial backs out

WARREN — Signature Hospital Corp., which a month ago was touted as a potential buyer for Forum Health Trumbull Memorial Hospital, has bowed out.

According to a statement issued by Forum Health, its board of trustees was informed earlier this week that the Houston-based Signature would not be moving forward with its proposed purchase.

Forum officials had no comment Thursday on why the deal fell through just 30 days into the due diligence phase, in which both organizations conduct research to determine if they want to move forward. At the time, officials said the due diligence, which could take weeks or months, had to be completed before any formal purchase offer is made.

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