U.S. Bankruptcy Court Judge Chris Lopez approved the sale of six Dallas-based Steward Health Care hospitals in Massachusetts to three different health systems during a Sept. 4 court hearing. “It’s the right answer, but it’s also the right answer under law,” Mr. Lopez said during the hearing. “There are real people in these hospitals right now. There’s no greater business justification.” Steward representative Ray Schrock said that the goal is to have the sales closed by Sept. 30. While the hospital sales received support from state and federal officials, Michael Price, a representative for Steward’s “first-in, last-out” lenders, objected to the sale, stating that they cannot support a sale that doesn’t provide any collateral to the lenders.
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Source: https://www.beckershospitalreview.com/finance/judge-oks-sale-of-6-steward-massachusetts-hospitals.html