Steward Health Care has recently declared bankruptcy and is planning to sell all of its U.S. hospitals in order to pay down its $9 billion debt. The company, which owns 31 hospitals across the country, including nine in Massachusetts, aims to auction off its assets. Despite this news, both Steward and Massachusetts officials have assured that there will be no disruptions to daily operations at the hospitals.
The auctions for the hospitals are scheduled for June 28 for locations outside of Florida and July 30 for the Florida hospitals. Steward, headquartered in Dallas, operates hospitals in eight states. The company’s attorney mentioned during a bankruptcy hearing that the company hopes to keep all hospitals operational in the long term.
In recent years, Steward Health Care has faced scrutiny over unpaid bills and potential supply shortages at its hospitals as highlighted by a CBS News investigation. Massachusetts Governor Maura Healey condemned the situation, attributing it to greed, mismanagement and lack of transparency on the part of Steward’s leadership in Dallas. In response to this crisis, Governor Healey has set up a hotline and website for patients seeking information or assistance regarding the bankruptcy.
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