Affiliation Holds Future Benefit for Health System, Employees, Medical Staff, and Communities

Sharon, PA - February 16, 2017 - Sharon Regional Medical Center announced today it will soon become affiliated with Steward Health Care LLC through an acquisition agreement that includes the sale of the hospital and its associated assets. A total of eight hospitals are being sold as part of the agreement: In addition to Sharon Regional Medical Center in PA, the sale includes Easton Hospital in Easton, PA; three in Ohio – Northside Medical Center in Youngstown, and Trumbull Memorial Hospital and Hillside Rehabilitation Hospital in Warren; and three in Florida – Wuesthoff Medical Center in Melbourne and Rockledge, and Sebastian River Medical Center in Sebastian.

Steward Health Care is a physician-led integrated health care services organization and community hospital network with a record of success in improving patient care. Steward operates a network of nine community hospitals in eastern Massachusetts, along with Steward Medical Group (800+ physicians) and the closely-knit Steward Health Care Network (3,000+ physicians). Through their successful and nationally recognized Accountable Care Organization (ACO) model, Steward focuses on integrated care to keep patients healthier.

Sharon Regional Medical Center will continue to provide needed health care services with the support available through affiliation with Steward Health Care,” said Jason Roeback, Chief Executive Officer. “Working with the same physicians and caregivers our patients trust, we look forward to using these new resources to enhance the care and experience we deliver.

The purchase agreement includes a commitment from Steward Health Care to offer employment to all active employees in good standing when the transaction is complete. Privileges will continue for all physicians in good standing on the medical staff. The Christian H. Buhl Legacy Trust has approved the sale of Sharon Regional Medical Center as part of this transaction.

“We are looking forward to affiliating with Sharon Regional,” said Steward Executive Vice President for Physician Services Michael Callum, MD. “We think our community-based model of providing the highest quality of care in a local setting is an exceptional fit with the high level of care and community support that Sharon Regional has been providing. We look forward to continuing and furthering that strong community focus and we are excited to work with hospital leaders in the coming months to ensure a smooth transition for staff and patients.”

The transaction is expected to close in the second quarter of this year, subject to customary regulatory approvals and closing conditions. Until the transaction is complete, current ownership remains in place.

About Sharon Regional Medical Center
Sharon Regional Medical Center has provided health care services to the region for more than 120 years. Mercer County’s largest hospital and healthcare system consists of a 220-bed Joint Commission accredited hospital, along with 19 satellite centers in Sharon, Hermitage, Mercer, and Hubbard, OH. Sharon Regional offers specialized services including Behavioral Health, Breast Care, Cancer Care, Diabetes, Emergency Care with specialized stroke and heart attack care, Mercer County’s only certified chest pain center, primary stroke center, open heart/angioplasty/ heart care institute, Sleep Medicine, Sports Medicine, Inpatient Rehabilitation, School of Nursing, School of Radiography, Women’s Center and Wound Recovery & Hyperbaric Medicine.

About Steward Health Care 
Steward Health Care is the largest fully integrated health care services organization and community hospital network in New England. Headquartered in Boston, Steward is one of the five largest employers in Massachusetts with more than 17,000 employees in more than 150 communities. Steward is comprised of Steward Medical Group, Steward Health Care Network, and Steward Hospital Group. Steward Medical Group provides approximately 1 million patient encounters per year at 152 sites and manages homecare and hospice with 300,000 and 35,000 encounters respectively. Steward Health Care Network, a fully integrated care management company, has 3,000 physicians, with approximately 4 million patient encounters per year and affiliates or joint ventures with approximately 30 urgent care centers. Steward’s Hospital Group includes Norwood Hospital, Saint Anne’s Hospital in Fall River, St. Elizabeth’s Medical Center in Brighton, Carney Hospital in Dorchester, Good Samaritan Medical Center in Brockton, Nashoba Valley Medical Center in Ayer, Holy Family Hospital in Haverhill and Methuen, Morton Hospital in Taunton, and New England Sinai Hospital in Stoughton. Additional information is available at WWW.STEWARD.ORG.