Optum has decided not to finalize an agreement with Steward Health Care to purchase the physician network, according to state officials. This announcement comes after a potential sale was announced in March, but necessary information was never submitted to the Health Policy Commission for review. The sale of Stewardship Health is crucial for Steward’s bankruptcy restructuring, with bids for Massachusetts hospitals due next month.
The potential sale of Steward’s physician network raised concerns among numerous state and federal lawmakers, including House Speaker Ronald Mariano who expressed fears about its impact on the competitiveness of the healthcare market in Massachusetts and further disruptions during a period of instability in the healthcare system.
Optum did not respond immediately to requests for comment, while Steward released a statement saying that the DOJ regulatory review process was challenging and that they have decided not to move forward with the sale of Stewardship Health. However, spokespeople for Optum did not withdraw their filings related to the deal’s material change notice with the agency.
Stewardship Health has been recognized as a valuable asset that provides excellent care to patients, and there are other interested parties actively negotiating to acquire the business. The future of Steward’s hospitals and providers in Massachusetts remains uncertain due to this development.
