The for-profit health care system, Steward Health Care, filed for bankruptcy early Monday morning. Despite this, the health care network will continue to operate its 32 hospitals, including eight in Massachusetts, while restructuring its finances under court supervision.
The financial crisis faced by Steward Health Care has caused concern among many, with Gov. Maura Healey calling the situation a “house of cards and a charade.” As one of the state’s largest employers, Steward has come under scrutiny as it navigates through this challenging time.
According to Dr. Ralph de la Torre, the chief executive officer of Steward, the decision to file for Chapter 11 restructuring is in the best interests of patients, physicians, employees, and communities. Steward assured patients and employees that there should be no disruptions in care during this process.
Health and Human Services Secretary Kate Walsh stated that the Healey-Driscoll administration is collaborating with Steward and potential partners to ensure an orderly transfer of ownership that protects access to care, preserves jobs, and stabilizes the health care system.
