Steward operates more than 30 hospitals nationwide, and its finances are deeply entangled with one of the largest owners of hospital real estate in the country, raising questions about how Steward's financial problems could impact hospitals in several states.
With the future of Steward Health Care's Massachusetts hospitals in jeopardy, health industry experts are concerned the private, for-profit company's financial troubles could ripple through hospitals around the country.
It remains unclear how the company's finances became so strained. Steward has refused to provide audited financial information to Massachusetts officials, arguing it is confidential business information, and the company is not required to make it public.There have long been signs that Steward's finances were tight. Several lawsuits from vendors and contractors allege that some of the company's bills have gone unpaid for years.
The deal with MPT also allowed Steward to expand quickly, according to Cornell University Professor Rosemary Batt, who has researched investors' effects on health care.
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