Bankrupt Steward Health Care Gets Approval to Sell Six Massachusetts Hospitals in $343 Million Deal with No Profit

Sep 4, 2024, 02:30 PM

Steward Health Care, the largest private hospital operator in the U.S., has received a bankruptcy judge's approval to sell six Massachusetts hospitals. The sale, valued at $343 million, will transfer the hospitals to three nonprofit operators. Despite the sale, Steward Health Care will take no profit from the transaction. This decision follows weeks of contentious negotiations with property owners, lenders, and the commonwealth. The hospitals being sold include St. Elizabeth’s Medical Center in Brighton and Good Samaritan Medical Center in Brockton. The closure of these hospitals will affect over 700 jobs and countless patients, particularly in Dorchester, MA, where the only hospital is set to close, impacting local healthcare access. Steward Health Care had received $30M from the state to stay open until the end of the month. Nashoba Valley Medical Center and Carney will also shut their doors.