Ryan, Wilson, Brown Ask Obama to Intervene with Dollars for Forum Health
Business Journal Daily – With the deadline just days away for bankrupt Forum Health Inc. to announce how it will reorganize, U.S. Sen. Sherrod Brown and Reps. Tim Ryan and Charlie Wilson are urging President Obama to help bailout the health-care system.
Ryan, in a statement from his office, announced that he, Wilson and Brown have sent a letter to President Obama, members of the House and Senate leadership and the Treasury Department that outlines the importance of Forum Health to the regional economy and the importance of federal intervention.
Forum Health, which entered Chapter 11 bankruptcy in March, is to decide by Monday whether it will submit a plan to the bankruptcy court to reorganize as a free-standing entity or pursue a mergers-and-acquisitions plan and sell off some or all of its assets or merge with another entity.
According to the letter, three bidders are interested in purchasing Forum as a whole, and one bidder interested in purchasing Hillside Rehabilitation Hospital in Howland.
