Becker's Healthcare March 27, 2024
Dallas-based Steward Health Care plans to sell its physician group to UnitedHealth Group’s subsidiary Optum, The Boston Globe reported March 26.
The proposed sale of Stewardship Health is part of the 33-hospital system’s plan to shore up its finances amid ongoing challenges, including falling behind in paying bills and rents. If approved, physicians who work at Steward facilities across nine states would be employed by Optum, the largest employer of physicians in the U.S.
In February, Steward shared a “six-point action plan” to tackle its financial troubles and create a more sustainable business.
As part of that plan, Steward and its lenders inked a financing agreement that provided a $150 million cash infusion in additional liquidity as the health...
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