Judge OKs extended use of cash for Forum

By WILLIAM K. ALCORN

alcorn@vindy.com

YOUNGSTOWN

For the eighth time, U.S. Bankruptcy Judge Kay Woods has approved extending Forum Health’s ability to use its cash collateral to operate while the health-care system attempts to get out of Chapter 11 bankruptcy.

On Friday, Judge Woods approved Forum’s motion to continue use of its cash collateral through Monday. The court’s action came on the heels of confirmation earlier last week that Tennessee-based Ardent Health Services is negotiating to buy the financially strapped Forum Health.

Though talks between Ardent and Forum have been going on for some time, a deal had not been completed as of the end of last week, according to Ardent spokesman Kevin Gwin.

Ardent wants to do more than just preserve bankrupt Forum Health’s three hospitals. It wants to make them bigger and better and stronger, Gwin said.

Forum filed for protection under the U.S. Bankruptcy Code on March 16, 2009. It operates Northside Medical Center in Youngstown, Trumbull Memorial Hospital in Warren and Hillside Rehabilitation Hospital in Howland.