Group Seeks Community Support, Reports Progress in Securing Operating Expertise
A group of Warren-area community leaders is working on a multifaceted effort to buy and upgrade Trumbull Regional Medical Center.
The group plans to submit a formal offer to purchase the Warren hospital’s assets from Steward Health Care, which has been operating under Bankruptcy Court protection since May.
“Our primary objective is to save the hospital and all it means for healthcare in the community,” said John A. Guarnieri of Howland, a retired businessman and president of Warren City Hospital, the organization established to organize the purchase. “We are concerned that if we do not buy the hospital, it may close for good. That would leave the community’s healthcare needs grossly underserved.
“We are very optimistic that, with the right management, the right contracts and sufficient funding, Trumbull can recover from its recent challenges and reestablish itself as a quality healthcare provider, as it had been known for many decades. With cooperation from key sources, we have made tremendous strides in making sure all of the needs of this complex undertaking are met. We remain focused on achieving our goals.”
Other Warren City Hospital officers include Dr. Lindsey Brodell Dolohanty, vice president, a dermatologist and owner of Brodell Medical in Warren; John T. Woods, secretary, owner of Insurance Navigators Inc., a Warren health insurance agency; and Donald W. Emerson, treasurer, executive director of the Trumbull Metropolitan Housing Authority. All are members of the organization’s board of directors, along with Michael P. Slyk, a pharmacist in Howland and part-owner of several nursing and rehabilitation centers.
The group expects to submit its formal offer and a description of its plans to the Bankruptcy Court by late August, Woods said. Among the elements of those plans are:
- A management company with expertise in reviving struggling community hospitals. This organization would operate Trumbull under contract with the Warren group. A tentative agreement is in place.
- Insurance and supply contracts. The Warren group would hire a separate company to establish contracts with medical insurance providers and key medical suppliers. Negotiations are in progress.
- Designation as a nonprofit. This would make the group eligible for foundation grants. An application to the Internal Revenue Service has been filed.
- Formal incorporation of Warren City Hospital. This has been completed. Warren City Hospital is the hospital’s original name; the Trumbull name could not be used because it is owned by Steward Health.
- At least $15 million in capital for the purchase and initial months of operation. Discussions with lenders, the hospital buildings’ owner and investors are in progress. Additional community support is needed to solidify investments by out-of-town investors involved in the plan.
“All of these important steps have required tremendous amounts of time and some financial contributions, and we have been fortunate to secure all of the support we’ve needed so far,” Woods said.
“But the outside investors working with us want to see more community support before they commit. We have secured some commitments for local funding, and had hoped to secure more before going public with our plans. But we are about $5 million short. A rejuvenated Trumbull is a goal shared by many in our community, so we are optimistic about closing this gap.”
Those interested in investing with the Warren City Hospital group can reach out via the group’s website, warrencityhospital.org, or by phone at (330) 646-9593 or by email at warrencityhospital@gmail.com.
Medical Properties Trust, the Alabama-based owner of the Trumbull Regional buildings, has been very supportive of this effort, Woods said. Several Trumbull physicians and Steward Health leaders have been helpful as well, he said.
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Here are links to recent news coverage of our plans:
Group Formed to Save Trumbull Hospital (Business Journal Daily Buzz, Aug. 7)
Local Leaders Look to Save Hospital (Tribune Chronicle, Aug. 7)
Group Formed to Save Trumbull Hospital Seeks Financing, Public Support (Business Journal, Aug. 7)
Local Leaders Form Group to Buy Trumbull Regional’s Assets (Business Journal, Aug. 6)
Local Group Makes Push to Save Trumbull Regional Medical Center (WFMJ-TV Channel 21, Aug. 6)
Local Group Wants to Bid on Trumbull Regional Medical Center (WKBN-TV Channel 27, Aug. 6)
Warren-Area Group Aims to Buy Trumbull Regional Medical Center (Mahoning Matters, Aug. 6)