Massachusetts seizes control of Steward hospital while buyers found for 4 others
Healthcare Finance News
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Summary
Massachusetts Governor Maura Healey announced that the state has seized control of St. Elizabeth's Medical Center in Boston from Steward Health Care through eminent domain. This action aims to transition ownership to the Boston Medical Center after a high-quality bid from another hospital operator was blocked by the landlord. Agreements have also been reached for the acquisition and continued operation of four other Steward hospitals by various entities: Good Samaritan Medical Center by Boston Medical Center, Morton Hospital and Saint Anne's Hospital by Lifespan Health System, and Holy Family Hospital campuses by Lawrence General Hospital. This intervention comes in response to Steward's recent WARN notice indicating the closure of two other state hospitals, which would result in over 1,200 layoffs. The governor emphasized her administration's commitment to a fiscally responsible transition plan and addressing Steward's broader financial issues and management practices.
