The firm sought Chapter 11 protection in the Southern District Court of Texas and listed assets and liabilities of $1 billion to $10 billion. The bankruptcy petition allows Steward Health to keep operating while it seeks approval for a restructuring plan.The company, which operates 33 community hospitals in nine US states with more than 30,000 employees, has been struggling with its liquidity in recent months. While the, it does not have any hospitals in Dallas-Fort Worth.
In the bankruptcy process “Steward will be better positioned to responsibly transition ownership of its Massachusetts-based hospitals, keep all of its hospitals open to treat patients, and ensure the continued care and service of our patients and our communities,” de la Torre said.A third of Texans signed up for Medicaid in March of last year have since lost coverage following the end of pandemic-era expansions of the federal health insurance program.
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