Firelands Health to acquire The Bellevue Hospital

BELLEVUE — The Bellevue Hospital on Wednesday announced a plan for financial restructuring, which, most notably, includes being acquired by Firelands Health. In late 2024, The Bellevue Hospital released a statement hinting at financial troubles, and — in Wednesday's joint statement with Firelands Health — noted its severe monetary problems, which involves going through a Chapter 11 bankruptcy process. Through this process came a restructuring and acquisition with Firelands Health that will enable The Bellevue Hospital "to address financial obligations while continuing to serve the health care needs of the community," the statement read. Executives expect the acquisition to become finalized sometime later this year once the restructuring process ends and regulatory approval by health care industry professionals is granted. Certain information, including the sale price, was not disclosed. The filing comes as The Bellevue Hospital is encountering "many of the current pressures common to rural and independent U.S. hospitals, such as rising operational costs, access to capital, regulatory complexity and funding constraints," the statement read. Executives underscored how The Bellevue Hospital "will remain fully operational, and its commitment to providing compassionate care remains unchanged throughout the process." "Our plan to align ourselves with Firelands Health will help ensure long-term sustainability," said Sara Brokaw, president and CEO of The Bellevue Hospital. "This restructuring effort is the result of an in-depth process in which we thoroughly evaluated possible solutions," Brokaw said. "This potential partnership would position us to emerge stronger and better equipped to serve our community. Firelands presented itself as the best fit as they share our mission to ensure access to excellent care and can help us offer our patients a broader range of services. We deeply appreciate the continued support of our patients, staff and community as we navigate this path to a brighter future." Pending the Chapter 11 process and regulatory approvals, Firelands Health has committed to becoming the sole owner of The Bellevue Hospital at the end of the restructuring. This would include capital investments aimed to maintain hospital-based services as well as "sustaining and expanding other points of health care access for Bellevue and surrounding communities," the statement read. "The proposed plan for Firelands Health to acquire The Bellevue Hospital is a natural fit," said Jeremy Normington-Slay, CEO of Firelands Health. "Our cultures are very much aligned, and both organizations are dedicated to providing high-quality, accessible care to the people of this region," Normington-Slay said. "We look forward to working with the strong leadership team at The Bellevue Hospital and providers and staff to ensure a continuum of care to our patients." For more than 100 years, "The Bellevue Hospital has provided quality medical services to patients in the region," the statement read. "Firelands Health system is the area's largest and most comprehensive resource for quality medical care and consists of Firelands Regional Medical Center, Firelands Physician Group and The Foundation for Firelands." Bio blast The statement provided context on both health care organizations: • The Bellevue Hospital — At 1400 West Main St. in Bellevue, the hospital is a locally owned, nonprofit, 50-bed hospital, committed to offering patients the most advanced technology and medical treatment possible while providing the highest level of personal care. The Bellevue Hospital is accredited and has served the Bellevue community since 1917. • Firelands Health — At 1111 Hayes Ave. (Ohio 4) in Sandusky, Firelands Regional Medical Center is overseen by Firelands Health and includes a 287-bed medical center, which is the largest in the region, with medical staff of more than 200 and employs more than 2,000 full- and part-time employees. The full-service medical center provides a comprehensive array of acute services, specialties and subspecialties. Firelands Health serves patients in Erie, Huron, Ottawa, Sandusky and Seneca counties.