A group of physicians has acquired a controlling stake in Steward Health Care, a Dallas-based health system operating hospitals in nine states. Steward Health Care said Tuesday that it structured a recapitalization transaction in which private equity firm Cerberus Capital Management transferred its controlling stake to a management group of Steward physicians led by the Steward CEO Dr. Ralph de la Torre. The physicians will control 90% of the company, while Medical Properties Trust will maintain its 10% stake. The deal gives Steward Health Care the financial strength to navigate the COVID-19 pandemic, it said.
Read the full article: Physicians Acquire Steward Health Care from Private Equity Firm //
Source: https://www.modernhealthcare.com/mergers-acquisitions/physicians-acquire-steward-health-care-private-equity-firm