Healthcare Innovation August 13, 2024
Purchase includes a network composed of approximately 5,000 employed and affiliated providers across nine states
For-profit Steward Health Care has agreed to sell its Steward Health Care Network and the primary care providers of Steward Medical Group, which it refers to as “Stewardship Health” for a reported $245 million.
The buyer is Rural Healthcare Group, an affiliate of private investment firm Kinderhook Industries LLC. Founded in 2022, RHG is headquartered in Nashville and has 17 clinics across Tennessee and North Carolina. Its CEO, Benson Sloan, previously served as vice president at naviHealth, an Optum/United-owned post-acute service provider.
The transaction is subject to Bankruptcy Court approval, and the transaction will close pending completion of all closing conditions, including regulatory approval. Steward...
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