Steward Health Care, a private company based in Dallas, has announced plans to sell all of its hospitals in the U.S., including nine in Massachusetts. This move comes after the company declared bankruptcy and aims to help pay down its $9 billion in debt. The auctions for the 31 hospitals are scheduled to take place on June 28 for those outside of Florida and July 30 for the nine Florida hospitals. Steward operates hospitals in eight states.
Despite the bankruptcy filing, both Steward and Massachusetts officials anticipate that there will be no disruptions in day-to-day hospital operations. Governor Maura Healey has launched a hotline and website for patients to address any concerns they may have related to Steward Health Care and its bankruptcy declaration. In response to Steward’s financial troubles, Governor Healey has been vocal about issues of greed, mismanagement, and lack of transparency within the company. She aims to work with stakeholders to prevent similar situations from occurring in the future and to ensure that patients receive the care and resources they need.
The decision by Steward to sell its hospitals marks a significant development in the healthcare industry, with implications for patients and healthcare workers in Massachusetts and other states where Steward operates. It is not yet clear who will purchase the hospitals or how they will be operated going forward. However, it is certain that this move will have far-reaching consequences for both patients and healthcare providers in these communities.
