The health care network, Steward Health Care, which is the largest physician-led hospital operator in the U.S., filed for bankruptcy early Monday morning. Despite this news, the company has assured patients and employees that there will be no disruptions in care during the restructuring process under court supervision.
The decision to file for Chapter 11 restructuring was made by Dr. Ralph de la Torre, the chief executive officer of Steward, who stated that it is in the best interests of patients, physicians, employees, and communities. With eight hospitals located in Massachusetts alone, Steward remains one of the state’s largest employers and has faced financial scrutiny as it navigates through these challenging times.
Gov. Maura Healey expressed concern about the situation and called it a “house of cards and a charade.” She urged caution and emphasized that Steward must take responsibility for its actions while ensuring continued access to care for patients and preserving jobs for employees.
Health and Human Services Secretary Kate Walsh stated that her administration is collaborating with Steward and potential partners to ensure an orderly transfer of ownership that protects access to care, preserves jobs, and stabilizes the health care system. As one of Massachusetts’ largest employers, Steward plays a crucial role in providing quality healthcare services to residents across the state.