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Steward Health Care announced Friday that is it closing two hospitals in Massachusetts because it received no qualified bids for the facilities after declaring bankruptcy earlier this year. In a ...
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.
Bankrupt hospital operator Steward Health Care received a bankruptcy judge’s approval on Friday to sell its nationwide physician network to a private equity buyer while its stalled efforts to ...
6 jaw-dropping revelations Stunning takeaways from Steward Health Care's bankruptcy filing. Steward also said the move will make it easier to transition its Massachusetts hospitals to another company.
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 ...
The $30 million is also contingent on Steward hitting milestones and cannot be used for rental payments, debt service or management fees. The company’s hospitals are scattered across eight states. A Senate committee voted last week to authorize an investigation into Steward’s bankruptcy and to subpoena de la Torre. The subpoena would compel ...
In 2011, the hospital was acquired by Steward Health Care in a $170 million deal. [5] The transaction was approved by the Massachusetts Attorney General, the state's Department of Public Health, and the Supreme Judicial Court. [6] On May 6, 2024, Steward filed voluntarily for Chapter 11 bankruptcy protection.
Steward Health Care, the largest private hospital operator in the U.S., received a bankruptcy judge's approval on Wednesday to sell six Massachusetts hospitals, despite taking no profit from the ...