A Michigan-based for-profit health system assumed ownership Monday of two Warren hospitals whose previous owner went bankrupt.
The news puts an end to speculation about who would take over Trumbull Regional Medical Center and Hillside Rehabilitation Hospital, previously slated for closure.
A Texas bankruptcy court approved Michigan-based Insight Health System to take over. The court had also selected Insight to operate the hospitals on a temporary basis since September.
The hospitals' prior owner, Steward Health Care, sold off its network of hospitals after filing for bankruptcy in May.
Another possible buyer, a faith-based system run by a former doctor who had worked at Trumbull Regional, had recently emerged.
Insight is a for-profit hospital operator that has in recent years taken over distressed hospitals throughout the country.
Since Insight took over, the hospitals are operating at full capacity and seeing increased patient volume, Insight said in a press release, adding that it it has no plans to reduce services.
“These organizations have top-notch programs and great physicians, and we have a feeling the community will be very excited when we’re able to fully put our fingerprints on every aspect of their operations," Dr. Rany Aburashed, corporate chief medical officer for Insight, said in a statement.
A private landlord still owns the Warren hospital buildings, but Insight said it intends to purchase them in the future.
Insight has also said it plans to run the Warren hospitals through a community nonprofit while paying itself a management fee.
