Community Health Systems in discussions with financial backers

YOUNGSTOWN — The parent company of ValleyCare Health System of Ohio says it is exploring a variety of options with financial sponsors.

Franklin, Tenn.-based Community Health Systems on Monday said the exploration with its financial advisors is in a preliminary stage and there is “no timeline established for this review.”

“There can be no certainty that the exploration will result in any kind of transaction,” a release reads.

Earlier this month, the company said it would sell off 12 hospitals that it has yet to name.

Community is the parent company of Hillside Rehabilitation Hospital, Northside Medical Center and Trumbull Memorial Hospital.