Steward Health Care, a hospital operator in Massachusetts, is facing financial difficulties with its hospitals and has taken steps to improve its financial situation by selling its national physician network to UnitedHealth’s Optum Care unit. The doctors group, known as Stewardship Health, is being sold as part of Steward’s efforts to strengthen its system of 33 hospitals nationwide. Last year, the company struggled to pay bills and rents, leading to the need for this strategic move.
The sale of Stewardship Health to Optum’s Collaborative Care Holdings, LLC was filed with the state’s Health Policy Commission on Tuesday. While the documents did not specify a price for the sale, Optum officials have not yet provided a comment on the deal. This sale is seen as a way for Steward Health Care to address its financial crisis and make improvements to its operations moving forward.
