Six of Steward’s Massachusetts hospitals will get new operators under a $343 million deal that was given the green light in bankruptcy court this week. Two other Steward-owned hospitals in the state closed, and Steward announced the sale of its doctors group last month. This is the end — in Massachusetts — of a months-long ordeal that critics say laid bare the risks of private equity involvement in health care and threatened access to hospital care for patients in the state. The dispute illustrates the potential uncertainty of one of private equity’s most criticized strategies in the health care space: sale-leasebacks, in which providers’ underlying real estate is sold in exchange for cash that can be reinvested in the facility.
Read the full article: Steward Health’s Sale Puts Scrutiny on Real Estate Deals //
Source: https://www.axios.com/2024/09/06/steward-massachusetts-hospitals-deal