Struggling Steward Health Care to sell majority of operations to Optum Care

The physician network owned by Steward Health Care Network in Boston is facing financial struggles and has accumulated millions of dollars in debt. In response to this, the hospital group has decided to sell a major part of its operations. They have filed a notice with the state of Massachusetts, stating that Optum Care, a subsidiary of UnitedHealth Group, will be purchasing Steward’s physician network. This means that doctors who are currently employed by Steward in nine different states will soon be working for Optum Care.

The sale does not include the physical hospitals owned by Steward, but there are indications that more transactions may be on the horizon. The Massachusetts Health Policy Commission (HPC), an independent state agency responsible for monitoring healthcare spending, still needs to review the proposed sale. According to HPC Executive Director David Seltz, the sale involves two large medical providers with significant implications for healthcare delivery and costs in Massachusetts. The HPC will examine potential impacts on health care costs, quality, access, and equity before the sale can be completed.

Steward currently owns ten hospitals in Massachusetts, including Morton Hospital in Taunton, St. Elizabeth’s Medical Center in Brighton, and Good Samaritan Medical Center in Brockton, among others. The hospital group has been facing financial struggles due to high debt levels and declining patient volumes at some of its facilities. In an effort to address these challenges and improve its financial position, Steward has decided to sell a significant portion of its operations to Optum Care.

By Sophia Gonzalez

As a content writer at newsgreg.com, I am dedicated to crafting engaging stories that captivate our readers. With a knack for turning complex topics into accessible and compelling narratives, I weave words together to inform and inspire. My passion lies in delivering accurate and thought-provoking content that keeps our audience informed and entertained. From breaking news stories to in-depth features, I strive to bring a fresh perspective to every piece I create. Join me on this journey of exploration and discovery through the power of words at newsgreg.com.

Leave a Reply