Steward Health Care (“Steward”), the country’s largest physician-led, minority-owned, integrated health care system, announces it has reached an agreement in principle with its landlord, Medical Properties Trust, Inc. (“MPT”), supported by the “FILO” secured lenders under its funded debt and the official committee of unsecured creditors. Following Bankruptcy Court approval, the agreement allows for the transfer of hospitals that are governed by MPT’s master lease to new interim operators and the funding of ongoing operational costs by MPT. Additionally, Steward and MPT have agreed to the mutual release of all claims on secured lease obligations between them, including the release of billions of dollars of claims held by MPT against Steward.
Read the full article: Steward Health Care and Medical Properties Trust Reach Settlement Agreement in Principle, Allowing for Steward-Operated Hospitals to Be Transitioned to New Ownership //
Source: https://www.businesswire.com/news/home/20240830003991/en/Steward-Health-Care-and-Medical-Properties-Trust-Reach-Settlement-Agreement-in-Principle-Allowing-for-Steward-Operated-Hospitals-to-Be-Transitioned-to-New-Ownership