The Steward Health Care demise was set in movement months in the past:
JANUARY 4
Steward Health Care reportedly owes $50 million in unpaid lease, its proprietor, Medical Properties Belief, Inc., mentioned in a press launch.
JANUARY 19
Steward can also be the topic of greater than a dozen lawsuits in Massachusetts filed by distributors and staff over unpaid invoices since 2022, the Boston Globe reported.
JANUARY 25
A minimum of 4 of Steward’s hospitals may very well be in jeopardy of being offered “as soon as possible,” U.S. Rep. Stephen Lynch instructed WCVB.
FEBRUARY 2
Steward secured a “significant financial transaction” that an official mentioned on Feb. 2 would “help stabilize” the corporate and save a few of its Massachusetts hospitals from shuttering.
FEBRUARY 14
The Division of Public Health expanded oversight over all 9 Steward hospitals, officers mentioned at a Public Health Council assembly.
MARCH 26
In a disclosure that hinted at additional transactions, state healthcare officers obtained notifications on March 26 regarding the proposed sale of Stewardship Health Inc. and the contracting Steward Health Care Community to OptumCare, a subsidiary of UnitedHealth Group.
APRIL 3
A chair for Steward Health CEO Ralph de la Torre was notably vacant through the U.S. Senate’s April 3 listening to on the catastrophic monetary mismanagement of his firm’s Massachusetts hospitals.
MAY 3
The state Division of Public Health activated an “Emergency Operations Plan” together with a regionally-focused “Incident Command System.”
MAY 6
Steward filed for chapter on Could 6, with the corporate saying it had “commenced an in-court restructuring process” below Chapter 11 of the U.S. Chapter Code.
MAY 8
All Steward hospitals have been set to be put up on the market at public sale this summer time, the corporate’s chapter attorneys instructed a Texas court docket.
MAY 20
A senior dwelling facility proprietor and well being care administration advisor was appointed by the U.S. Chapter Court docket to monitor affected person care at Steward Health Care services in Massachusetts and report instantly if she decided the standard of care was “declining significantly.”
JUNE 12
Chapter court docket permitted a $225 million mortgage to Steward, holding the corporate’s hospitals functioning.
JUNE 20
Only a week earlier than bids have been due, the primary spherical of gross sales at public sale of the now-bankrupt Steward Health Care System’s hospitals was delayed in late June by a number of weeks, in line with court docket filings.
JUNE 28
Optum knowledgeable the Health Coverage Fee that it was not working to finalize an settlement with Steward round a sale.
JULY 15
All of Steward Health Care’s operational Massachusetts hospitals obtained bids for buy throughout an public sale held July 15.
JULY 25
The U.S. Senate Committee on Health, Training, Labor and Pensions voted on Thursday to launch a Congressional investigation into what led Steward to file for chapter protections and to subpoena on-the-record testimony from de la Torre.
YESTERDAY
Steward publicizes it can shut Carney Hospital in Dorchester and Nashoba Valley Medical Heart in Ayer on or round Aug. 31.
Herald wire companies contributed to this report
Initially Revealed:
