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Insight Health System officially takes control | News, Sports, Jobs
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Insight Health System officially takes control | News, Sports, Jobs

WARREN — The Michigan-based healthcare provider announced the official transfer of ownership of Trumbull Regional Medical Center and Hillside Rehabilitation Hospital to Insight Health System.

Insight Health had been the interim operator of the facilities since September, following a significant development in Steward Health Care’s bankruptcy case that allowed interim administrators to operate 15 hospitals in the ailing hospital system, including two in Trumbull County.

Insight Health subsequently announced its intention to acquire facilities in the Mahoning Valley as well as several other satellite facilities. Insight Health was appointed as the designated operator in October.

Steward Health filed for bankruptcy on May 6, citing billions of dollars in debt. It soon announced its intention to sell 31 of its hospitals, and in August the Texas-based company announced its intention to close local hospitals by September 20.

Medical Properties Trust, the Birmingham, Alabama-based real estate investment trust that holds the leases for Steward Health’s properties, still owns the real estate, but “Insight plans to acquire all assets in the future.”

As part of the new lease, MPT agreed to lease concessions “This puts facilities on a better path toward financial stability.” Additionally, MPT agreed to make capital expenditure improvements at the facilities.

The statement also states that Insight Health has no plans to reduce service lines.

The bill of sale was finalized Wednesday, according to an Insight Health spokesperson.

“Trumbull and Hillside are operating at full capacity and were already seeing an increase in patient volumes in less than a month after Insight took over operations.” Insight’s corporate chief medical officer, Dr. Rany Aburashed said in the statement. “These organizations have world-class programs and great physicians, and I have a feeling the community will be thrilled when we can literally put our fingerprints on every aspect of their operations.”

The statement did not include information about the sales price or what kind of improvements MPT plans to make in the hospitals.

An Insight Health spokeswoman did not provide a sales price and deferred comment on improvements to MPT. An email was sent to MPT officials Monday afternoon seeking comment.

In the release, Cindy Russo said: “The Insight team arrived and immediately went to work evaluating our operations from top to bottom, identifying opportunities to make improvements that would provide long-term financial stability and improve patient care. We worked with Insight to continue implementing their vision for Trumbull and Hillside to ensure our community has access to unrivaled patient care for decades to come.” I look forward to working closely.”

Insight, a physician-led organization founded in 2008, operates hospitals and other healthcare facilities in Michigan, Iowa, New Jersey, Illinois and now Ohio. Two non-profit organizations (Trumbull Insight Foundation and Hillside Insight Foundation) operate the local facilities.