Hospital operator Steward Health Care files for bankruptcy protection

FILE - The Texas Capitol is viewed from its south side on Wednesday, Jan. 5, 2005, in Austin, Texas. Financially embattled hospital operator Steward Health Care filed for bankrupcy protection early Monday, May 6, 2024, morning in the U.S. Bankruptcy Court for the Southern District of Texas. BOSTON — Hospital operator Steward Health Care filed for bankruptcy protection early Monday morning, but pledged to maintain the eight hospitals it operates in Massachusetts.

“Steward does not expect any interruptions in its day-to-day operations, which will continue in the ordinary course throughout the Chapter 11 process,” the company said in a written statement. “Steward’s hospitals, medical centers and physician’s offices are open and continuing to serve patients and the broader community and our commitment to our employees will not change.”

Steward’s troubles in Massachusetts have drawn the ire of top political figures including U.S. Sens. Elizabeth Warren and Edward Markey, who have said the company’s previous private equity owners “sold for parts” and “walked away with hundreds of millions of dollars.

“In the past several months we have secured bridge financing and progressed the sale of our Stewardship Health business in order to help stabilize operations at all of our hospitals. With the delay in closing of the Stewardship Health transaction, Steward was forced to seek alternative methods of bridging its operations,” he added.

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