BELMONT COUNTY, Ohio – Belmont Savings Bank has filed a lawsuit in Belmont County Common Pleas Court seeking repayment of two million dollars in loans from East Ohio Regional Hospital.
The bank claims negotiations between it, the past, and present owners of EORH failed. EORH used the loans for employee payroll and operating expenses… with the hospital securing the loans with accounts receivable. New owner 360 Healthcare called the legal action “unfortunate” adding it intends to satisfy all debts owed.”
360 Healthcare Inc. President Harold Ramsey says the company has made “extensive efforts” to work with Belmont Savings Bank over debt tied to the hospital’s previous ownership and called it “unfortunate” the dispute is headed to court.
Ramsey said records of past-due collections before the March closure of East Ohio Regional Hospital, during the shutdown, and since his company’s June purchase show “impressive” progress toward reopening.
He added that 360 Healthcare plans to repay all debts to Belmont County, vendors, and former employees soon after operations resume in Martins Ferry.
Dimitri Vassilaros, host of Dimitri! Live & Dangerously Local!™️found through public records that the hospital purchase does not appear to be completed and that the delinquent property taxes EORH owes to Belmont County have climbed from $1.2 million to $1.6 million dollars since 360 Healthcare announced its purchase of EORH in June. Ramsey announced plans to reopen the facility by fall 2025 when he made his purchase announcement back on June 23.
