Steward Health Care, a Texas-based company that owns several hospitals in South Florida, has filed for Chapter 11 bankruptcy, causing financial trouble for five local hospitals including Palmetto General Hospital, Hialeah Hospital, Florida Medical Center in Lauderdale Lakes, Coral Gables Hospital, and North Shore Medical Center.
The financial difficulties faced by Steward Health Care have led to protests by nurses at Florida Medical Center in Lauderdale Lakes. In 2022, they protested due to the company’s failure to address their concerns about insufficient Medicare and Medicaid reimbursement and rising labor and medical supply costs.
Steward Health Care has stated that the bankruptcy filing is in the best interest of patients, physicians, employees, and communities due to challenges in the healthcare industry. They reassured that all hospitals, doctors’ offices, and facilities will remain open during the restructuring process.
Hialeah Mayor Esteban Bovo Jr. confirmed that both Hialeah and Palmetto hospitals will continue to provide service despite the bankruptcy filing. The Florida Agency for Health Care Administration also ensured that care at all Florida-based hospitals owned by Steward Health Care will remain consistent.
Steward Health Care has received $75 million in special funding to sustain patient care services and is seeking a bailout to overcome their financial challenges. The first federal hearing on the bankruptcy filing is scheduled for Tuesday.