Steward Health Care Secures Funding to Stabilize Massachusetts Hospitals
Steward Health Care announces significant funding to stabilize its Massachusetts hospitals and considers transferring some medical centers to other companies amid a financial crisis, with plans to sell some hospitals and bring in an equity partner. The company attributes its struggles to pandemic challenges and unfair Medicare and Medicaid reimbursement rates, and the bridge financing will provide the necessary capital for operations while the M&A process progresses.