Meadville Medical Center (MMC) is no longer able to proceed with the proposed transaction for Sharon Regional Medical Center (SRMC) after determining that adequate funding to financially stabilize the hospital for the long-term was unable to be secured.
A tremendous amount of effort and resources were dedicated to keeping SRMC open and serving the community. On behalf of MMC, we want to acknowledge those individuals and organizations who went above and beyond to support this worthy effort to preserve essential healthcare services for the Sharon community.
We also want to acknowledge the over seven hundred dedicated employees at SRMC and the hospital leadership for their efforts to continue to provide exceptional care to their community during this most difficult time. Their collective efforts can only be described as heroic.
Special thanks to Governor Shapiro and his senior staff, the Pa. Attorney General and its senior attorneys, and Pa. State Senator Brooks, as they collectively dedicated a significant amount of time and resources to keep SRMC serving the Sharon community in recent months. Without these extraordinary efforts, the hospital would have likely closed months ago.
In addition, we want to acknowledge those local community foundations, Penn-Northwest, city and county officials who committed funding support toward the effort to preserve SRMC. After a meeting with the Buhl Regional Health Foundation Friday afternoon, we came to the realization that adequate funding to financially stabilize the hospital would not be forthcoming, and our efforts to preserve SRMC were no longer viable.
The team at MMC invested a substantial amount of time and resources in this effort, and we are incredibly disappointed in the outcome. MMC has remained consistent as to the amount of funding it would take to stabilize SRMC for the long term. However, without adequate funding, proceeding any further would be irresponsible. “We genuinely want what is best for the community and remain willing to support SRMC and to preserve essential healthcare for the Sharon community,” stated Philip Pandolph, Chief Executive Officer, MMC.
