Bankruptcy sale allows Sharon Regional to return to service
Staff report
Health care in the Mahoning and Shenango valleys continues to mend with the announcement Sharon Regional Medical Center will return to service after a federal bankruptcy court judge approved its $1.9 million sale Friday.
Shuttered Jan. 6, the former Steward Health Care facility will be headed by Tenor Health Foundation and its founder Radha A. Savitala, a California-based attorney. This is the foundation’s initial purchase of a health care facility.
“This acquisition marks a pivotal step toward reopening the hospital and restoring the vital health care services that our community relies upon,” the city of Sharon stated Friday.
“We are optimistic about the future and eagerly anticipate the reopening of the hospital, and the return of vital services that our community deserves.”
Sharon Regional will be run as a nonprofit, the foundation’s news release states. In addition to regulatory requirements, Tenor Health must address details involving property owner Medical Properties Trust Inc., Pennsylvania officials and the Christian H. Buhl Legacy Trust.
“The hospital, its emergency room, clinics and other care resources are needed to ensure access to essential health care services in the region,” Savitala said in the statement. “We are grateful for the support of this wonderful community and the local and state entities that have enabled us to complete most of the steps needed to reopen the hospital.”
A reopening date has not been announced.
Headquartered in Dallas, Steward sought bankruptcy protection in May 2024 with a Chapter 11 filing in Houston. More than 30 of its hospitals were targeted for sale, including Sharon Regional along with Trumbull Regional Medical Center in Warren and Hillside Rehabilitation Hospital in Howland.
The Trumbull locations and auxiliary sites avoided a Sept. 20 closure when Insight Health System of Michigan assumed operations. Today, the hospitals operate as Insight Hospital & Medical Center at Trumbull and Insight Rehabilitation Hospital Hillside.
In a December meeting with the public, founder and CEO of Insight Health Dr. Jawad Shah said the local hospitals have witnessed staff stabilization and increased patient services since the purchase.
Savitala’s biography on the company’s website, tenorhealthpartners.com, touts more than 17 years working with legal and health care matters. It also notes “the successful turnaround of over 30 hospitals.”
Health care executives Amrish Mathur and Bryan Burklow are listed as part of the executive team.
“Keeping this hospital open ensures the vital capacity needed for our community and limits the need to travel a greater distance for care,” Pa. Sen. Michele Brooks said.