Ellwood City (Pa.) Medical Center's new owner said the hospital is projected to make a profit this month after years of financial struggles, the Ellwood City Ledger reported.
Grant White, CEO of Fort Lauderdale, Fla.-based Americore Health, made the announcement on Nov. 7 during a public hearing. The hearing came more than a year after Americore Health purchased the former Ellwood City Hospital, which transitioned from a nonprofit to for-profit organization.
Mr. White told hearing attendees that the hospital was losing $15 million to $20 million annually, has had payroll problems, and has cut its workforce by about 200 people in the last year.
But Mr. White, along with hospital CEO Beverly Annarumo and several physicians and staff members, said that the medical center is moving on a positive path.
Americore is hiring more physicians and plans to start a vascular health unit and launch telehealth programs next month. According to the report, the hospital has opened a super lab and will open an adult psychiatric unit.
Access the Ellwood City Ledger's full report here.
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