Forum Health creditors file own reorganization plan
By WILLIAM K. ALCORN
Forum Health’s major secured creditors have filed a reorganization plan of their own for the bankrupt health-care system in the U.S. Bankruptcy Court.
The plan calls for modifying collective-bargaining agreements so total labor costs do not exceed an average of 49 percent of net patient revenues, establishing work rules that conform to market standards, and using Forum Health Foundation funds to reduce debt.
The creditors’ surprise action Friday came on the heels of new concessionary labor agreements within the last week between Ardent Health Services, the potential buyer of Forum, and American Federation of State, County and Municipal Employees locals and Service Employees International Union District 1199.
AFSCME Locals 2288, 2026 and 2804, represents 1,200 employees at Trumbull Memorial Hospital in Warren and Hillside Rehabilitation Hospital in Howland; and SEIU represents 1,100 to 1,200 workers at TMH and Northside Medical Center in Youngstown.
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