Sharon Regional announces intent to sell assets to ValleyCare parent

Sharon Regional announces intent to sell assets to ValleyCare parent

Sharon Regional Health System announced today that it intends to sell its assets to Tennessee-based Community Health Systems, which owns and operates ValleyCare Health Systems of Ohio.

Sharon Regional’s board of directors has unanimously approved and entered a non-binding letter of intent for a sale of the Health System’s assets. The system will now move forward through a period of negotiations over the terms of the transaction.

The move is expected to result in capital investments in facilities, services and medical technology.

The announcement comes after a year of strategic review of the system’s options for sale. Sharon Regional Hospital is apart of the system.

“We engaged in a thorough and thoughtful process to ensure the best possible future for Sharon Regional and determined that affiliating with CHS, a highly regarded national healthcare organization, provides the greatest opportunity for building our future success,” said William Strimbu, chairman of the board of Sharon Regional.”

CHS owns, operates or leases more than 135 hospitals in 29 states, including the Northside Medical Center in Youngstown and Trumbull Memorial Hospital in Warren.