Forum files for Chapter 11

Forum Health and its affiliated entities today filed to reorganize under Chapter 11 of the U.S. Bankruptcy Code.

The case was "voluntarily" filed in U.S. Bankruptcy Court in Youngstown and will be heard by Judge Kay Woods, according to a news release.

The company called the filing "a strategic move to preserve choice and continuity of quality health care in the Mahoning Valley."

“Our goal is simple – to create a financially strong health care system to serve the diverse needs of the people of the Mahoning Valley and beyond,” said Walter “Buzz” Pishkur in the news release. He became president and chief executive officer in October 2008.

“This action gives us the opportunity to continue to execute on the revitalization strategy that will impact the future of a system that provides thousands of jobs, generates millions of dollars in local tax revenues and delivers outstanding clinical outcomes to the community," he said.

The release said Forum employs nearly 4,000 and is the second-largest provider of jobs in the Mahoning Valley, according to the release. The system’s payroll is nearly $170 million. Patient volume at Northside and Trumbull Memorial totaled more than 329,000 in 2008.

Pishkur reportedly plans a 1 p.m. news conference. For more on this story, watch Vindy.com and see Tuesday's Vindicator.