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The Steward Health Care System (SHCS) is a private, for-profit company that operates more than 30 hospitals in nine states, including 25 urgent care centers and 107 skilled nursing facilities ...
St. Elizabeth's Medical Center in Brighton, MA, which served as Steward's flagship hospital until it was sold in 2024 [19]. Steward Health Care was founded in 2010, when Caritas Christi Health Care was sold to New York private equity firm Cerberus Capital Management, with Caritas CEO and former Beth Israel Deaconess Medical Center heart surgeon Ralph de la Torre continuing as CEO of the new ...
Heywood Healthcare received a financial jolt of $26.5 million from MassHealth, the state's Medicaid insurance program, according to the state's Executive Office of Health and Human Services.
Patricia Silvia of Fall River holds a sign in support of Saint Anne's Hospital in Fall River at a rally pushing for secure ownership of Steward Health Care facilities, on Thursday, April 25, 2024.
On May 6, 2024, Steward Health Care filed for Chapter 11 bankruptcy protection, raising uncertainty for the hospital's future. [ 6 ] [ 7 ] [ 8 ] Over the next several months, Steward began searching for potential buyers for all of its hospitals across the country through court-guided auctions.
A whistleblower has come forward to Congress alleging Steward Health Care CEO Ralph de la Torre and other Steward executives illegally conspired with foreign officials to secure a hospital ...
It was established in 1985 and was the second largest healthcare system in New England. In 2010, Caritas Christi was sold to the private equity firm Cerberus Capital Management, which converted it to a for-profit company and renamed it Steward Health Care System. Cain Brothers acted as Caritas Christi's advisor for this transaction, for which ...
For-profit Steward bought up non-profit hospitals. Steward in 2010 won then-Attorney General Martha Coakley's endorsement for its $495 million acquisition of non-profit hospitals in Brighton ...