After months of uncertainty about its future, the nation’s largest private, for-profit hospital chain has filed for bankruptcy in Texas.
Steward will negotiate the terms of its"debtor-in-possession" status from its landlord, Medical Properties Trust,"for initial funding of $75 million and up to an additional $225 million," the company Steward operates more than 30 hospitals in a handful of states, and employs tens of thousands of workers, including 16,000 in Massachusetts, according to their unions.. Dr. Vartan Yeghiazarians, president of the medical staff at Holy Family Hospital, said by last December the problems were causing some medical procedures to be delayed or canceled.to help manage the effects of any potential loss of services, hospital closures, transfers of ownership or a bankruptcy.
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