Steward Health Care Secures Funding to Prevent Hospital Closures
Steward Health Care has announced a financing deal to stabilize its operations, including the resumption of elective cases, amidst mounting financial struggles. The company is considering transferring one or more hospitals to other operators and has received bids in a merger and acquisition process to bring in an equity partner. Steward Health Care is facing demands for unpaid rent and lawsuits alleging failure to pay for goods and services at some of its locations. The company spokesperson cited the COVID-19 pandemic's impact and stated that Steward is working on an action plan to strengthen its liquidity and continue providing healthcare services.