Company type | Private |
---|---|
Industry | Healthcare |
Predecessor | Caritas Christi Health Care |
Founded | 2010Boston, Massachusetts, US | in
Founder | Ralph de la Torre |
Headquarters | , US |
Number of locations | 33 hospitals (2024) |
Areas served | |
Key people |
|
Services | |
Revenue | ~$8 Billion |
Owner |
|
Number of employees | >30,000 (2023) |
Website | www |
Footnotes /references [1] [2] [3] [4] |
Steward Health Care is a large private for-profit health system headquartered in Dallas, Texas. It utilizes an integrated care model to deliver healthcare across its hospitals and primary care locations, as well as through its managed care and health insurance services. As of the start of 2024, Steward operated 33 hospitals and employed 33,000 people in the United States. [5] Steward's international ventures include Steward Colombia, which operates 4 hospitals, and Steward Middle East, which operates in Saudi Arabia and the United Arab Emirates. [6]
Steward began in 2010 in Massachusetts, when private equity firm Cerberus Capital Management acquired the failing non-profit Caritas Christi Health Care system. This move was led by Caritas CEO Ralph de la Torre, MD, a former cardiac surgeon who became founder and CEO of the new system, a position he still holds. [7] Today, Steward mainly operates in the United States, with locations across the country. Since 2016, Steward has fueled its national expansion with debt-driven mergers and acquisitions, largely financed through sale-leaseback deals with its landlord, Medical Properties Trust (MPT), in which Steward would buy hospitals and immediately sell the real estate to MPT in order to recoup costs, pay investors, and fuel further expansion, in turn entering into lease agreements with MPT to be paid by the hospitals. [8]
Cerberus, having made a profit of about $800 million over 10 years, [9] made its exit in 2020 by giving its shares in Steward to a group of Steward physicians in exchange for a convertible bond worth $350 million. [8] Today, Steward is owned by said physicians (90%) and MPT (10%). [8] While Steward says that selling and leasing their hospital properties (a practice they call "asset light") allows them to prioritize patient care, [10] experts have described it as a contributing factor to the system's later financial difficulties and concerns about patient safety. [8] [11] [12]
Steward Health Care was started in 2010, when Caritas Christi Health Care was sold to New York private equity firm Cerberus Capital Management, with Caritas CEO and former Beth Israel Deaconess Medical Center heart surgeon Ralph de la Torre continuing as CEO of the new company. [13] Caritas, founded in 1985 under the ownership of the Archdiocese of Boston, was previously a non-profit healthcare system comprising six financially beleaguered Eastern Massachusetts hospitals as well as a number of other non-acute healthcare facilities. The hospital system transitioned to for-profit following the transaction and was renamed Steward Health Care.
Prior to finalization, the deal needed approval from Massachusetts Attorney General Martha Coakley - required by state law for any changes in tax status from non-profit to for-profit. Coakley approved the deal with four main stipulations, requiring that Cerberus: [8]
Cerberus agreed to these stipulations, which brought the cost of the deal to $895 million.
Being an outlier in a state known for non-profit healthcare, Steward was a controversial company from the beginning. De la Torre was regarded by many early on as an ambitious and highly influential figure in healthcare, having goals of building the company on a national level. He stood out as one of the few people willing to invest millions into the system's troubled hospitals, which mostly serve low-income populations who would struggle to access healthcare without them. However, three years later, Steward was reported to be continuing to lose money and multiple attempts to expand outside of Massachusetts had failed. [14] While Steward would eventually achieve its goal of expanding to other states, the first several years focused on in-state growth.
In September 2011, AG Coakley approved Steward's acquisition of Morton Hospital in Taunton and Quincy Medical Center, both of which were previously non-profit facilities at risk of closing due to financial struggles. The deal required, among other commitments, that both facilities stay open for at least 10 years. [15]
In November 2011, Steward took its first step into the type of sale-leaseback deals that would partially define its long-running business model when it put 11 of its medical office buildings up for sale with the intent of leasing the properties for continued use. Consistent with earlier deals with the state, Steward reported that all proceeds would go to hospital operations. Steward justified the sale by claiming that being a landlord to its own physicians created compliance issues, as well as stating that "we’re not a real estate company. Our focus is on running hospitals and taking care of our patients." [16] 13 properties were ultimately sold to Healthcare Trust of America, a real estate investment trust, the next year for $100 million. [17] The triple-net lease entered into by Steward would see doctors and hospitals pay rent for the buildings while still being responsible for property insurance, taxes, and maintenance.
Despite the 2011 agreement to keep Quincy Medical Center open, Steward announced in November 2014 that the hospital would close by the end of the year. [18] Steward cited operating losses mostly attributed to a surplus in patient beds in the region, coupled with patients being referred more often to nearby South Shore Hospital in Weymouth and Beth Israel Deaconess Hospital's Milton campus. The next month, Steward and the state Department of Public Health reached a deal to keep the hospital's emergency department open until the end of 2015. [19] The emergency room ultimately stayed open until November 2020, almost five years longer than planned. [20]
Operations at Steward's Carney Hospital in Dorchester appeared to benefit from Quincy Medical Center's closure, which saw 125 QMC employees transfer to Carney, including several physicians. Steward reported a 16 percent increase in admissions and a 21 percent increase in outpatient visits in 2015, and new hospital president Walter J. Ramos said the hospital was expecting to break even by the end of the year following several years of losses. [21]
2015 ended in a milestone for Steward, as they saw their first-ever profitable year, attributed to a significant drop in expenses. [22] It also marked the end of the Attorney General's 5-year monitoring period, allowing Steward to become more flexible with spending, use of debt, and facility operations. [8]
In September 2016, Steward and Cerberus entered a $1.25 billion deal with Medical Properties Trust, in which MPT would purchase all of Steward's hospital properties for $1.2 billion and pay an additional $50 million for a 5 percent stake in the company. In return, Steward would lease the properties back from MPT. This influx of money would allow Steward to pay back the entirety of Cerberus' initial 2010 investment while the firm would remain a majority owner, in addition to allowing the company to pay back all of its $400 million in debt. Steward and Cerberus were further able to provide hundreds of millions of dollars in dividends to investors from this sale, [23] including to de la Torre, [24] and fund a massive national expansion. [8] The deal became final in September 2017, [25] and would mark the beginning of the company's strategy of funding further expansions by selling purchased facilities' real estate to MPT. [8] This strategy has widely been labeled as a significant factor in the system's later financial difficulties. Studies noted that while a large portion of the proceeds from the sales went toward expansion and investor dividends, the hospitals themselves received little from the sales and were left responsible for lease payments with built-in escalator clauses which saw rent payments increase annually. [12] [8] In correspondence with The Boston Globe in 2024, de la Torre and Cerberus both distanced themselves from responsibility for deals with MPT, each pointing to the other as the driving force behind the deals. [26]
2017 saw Steward finally expand beyond Massachusetts' borders, with the purchase in February of eight hospitals from Tennessee-based Community Health Systems across Ohio, Pennsylvania and Florida, [27] and the later acquisition in May of Tennessee-based Iasis Healthcare, which added 18 hospitals in Utah, Arizona, Texas, Louisiana, Arkansas, Colorado, Florida and Nevada. [3] The latter deal brought Steward's network up to 36 hospitals with estimated revenues of $8 billion, making it the largest private for-profit hospital operator in the United States at the time. [28]
In February 2018, Steward announced that its top management would move to Dallas, Texas from Boston. [4]
In June 2020, Cerberus exited the picture when Steward physicians, led by Steward founder del la Torre, acquired a 90 percent controlling stake in the company by buying out Cerberus' ownership. [29] The group of physicians was able to do this after borrowing $335 million from Medical Properties Trust, which retained 10 percent of the company. [23]
In August 2021, Steward closed a $1.1 billion deal to acquire five South Florida hospitals from Dallas-based Tenet Healthcare. In keeping with past financial strategy, they immediately sold the properties to MPT for $900 million in an agreement that Steward would lease the properties. [30]
Shortly following the Florida deal, in September Steward and HCA Healthcare announced an agreement wherein Steward would sell all of its Utah hospitals to HCA. [31] However, in June 2022 the Federal Trade Commission announced that it would sue to block the merger on antitrust grounds, alleging that it would allow HCA, a rival to Steward at the time, to raise healthcare costs in the region. [32] This would lead to Steward and HCA abandoning the proposed merger two weeks later. [33] Steward's second attempt to sell its Utah operations succeeded in May 2023 when they sold to CommonSpirit Health, a Catholic health system. The transaction included Steward's entire presence in the state, including "five hospitals, over 35 medical group clinics, imaging and urgent care centers, and other outpatient ventures." [34] This raised concerns that the area may lose access to reproductive health care given CommonSpirit's position on the matter, though Steward declined to say whether they had even offered this care at their locations prior. [35]
In April 2022, Steward acquired the former Miami Medical Center property from Nicklaus Children's Health System. [36] The hospital had been closed since 2017 when a joint venture between Nicklaus and Nueterra, an investment company, failed to meet expectations in its revamp of the hospital. In a press release, Steward's Regional President for South Florida, Dr. Marisela Marrero, stated that the system planned to reopen the hospital. [37] As of 2023, the hospital still appeared to be closed, [38] and the property was owned by Medical Properties Trust. [39]
In June 2022, Steward settled a lawsuit brought against it by the federal government, admitting to violations of the False Claims Act. According to the settlement, in 2010 and 2011 Steward's Good Samaritan Medical Center (GSMC) in Brockton, Massachusetts entered into agreements with several local physicians and physician practices in which GSMC would pay the practices to create, manage, and provide services at GSMC. Over several years, GSMC paid the practices for services at the hospital which were not actually performed and undercharged several of the practices on rent. In exchange, the practices referred patients to Steward hospitals. As a result of the settlement, Steward agreed to pay $4.7 million and GSMC entered into a five-year corporate integrity agreement with the U.S. Department of Health and Human Services which provides for annual, independent review of its finances to ensure compliance with the Anti-Kickback Statute and the Stark Law. [40]
2023 saw Steward downsize in several states: it completed the sale of its Utah operations to CommonSpririt Health in its second attempt to sell since abandoning its deal with HCA the previous year, [41] it closed Texas Vista Medical Center in April, citing low reimbursement rates and 25 percent of patients not paying their bills (CBS News reported that Texas Vista owed more than $650,000 to various vendors), [42] and in December, it announced the 2024 shuttering of operations at New England Sinai Hospital, a long-term acute care hospital in Stoughton, Massachusetts, reporting operating losses of $22 million. [43]
In January 2024, an investigation by The Boston Globe revealed that Steward was facing significant financial difficulties, creating fears of possible hospital closures. [44] Part of this stemmed from a press release from Medical Properties Trust announcing that Steward owed MPT $50 million in unpaid rent on their properties, [45] in addition to owing several contractors and vendors for unpaid services and equipment. [46] MPT, after multiple months of partial rent payments from Steward, brought on financial and legal firms to come up with a plan to collect what Steward owed. The end result was an action plan designed, according to MPT, to "strengthen Steward’s liquidity and restore its balance sheet, optimize MPT’s ability to recover unpaid rent, and ultimately reduce MPT’s exposure to Steward." Steward agreed to pursue the sale of some hospital operations and to divest from non-core operations, in exchange receiving a bridge loan from MPT in the amount of $60 million and MPT writing off portions of Steward's unpaid rent. Of the agreement, MPT said "There can be no assurance that Steward will successfully execute its plans or that the Company will recover all of its deferred rent and loans outstanding to Steward." [45]
The repossession by vendors of medical equipment for unpaid bills was linked to the death of a new mother at Saint Elizabeth's Medical Center in Brighton, who in October 2023 suffered a liver bleed which staff were unable to treat due to the lack of equipment. [47] Steward, regarding the incident at St. Elizabeth's, said in part that "understanding that the demand for supplies and staff can fluctuate at any given moment due to changing and unpredictable volumes of patients, Steward is confident we have adequate supplies for our physicians, providers, and health care professionals to continue providing high-quality care to our patients." Later that month, U.S. House Representative Stephen Lynch said after a meeting with Steward that the health care system was looking to sell four of its nine Massachusetts hospitals "as soon as possible," including St. Elizabeth's Medical Center in Brighton, Holy Family Hospital's two campuses in Haverhill and Methuen, Nashoba Valley Medical Center in Ayer, and Norwood Hospital, whose reconstruction would also be halted. [48]
Also in January, Steward announced that The Medical Center of Southeast Texas' Victory campus in Beaumont would close, and that all services from the Victory campus would be transferred to its main campus in Port Arthur. The Medical Center of Southeast Texas' interim president Brent Cope attributed the closure to the campus being "severely underutilized given the needs in the region." The closure was completed in the beginning of February.
Unpaid bills also led to work stoppages in multiple construction projects. In Texarkana, Texas, construction started in 2021 on a $227 million project to replace Steward's Wadley Regional Medical Center with a new campus 5 miles north of the current location. [49] On February 5, construction firm Robins & Morton sent a memo to subcontractors stating they had "requested evidence of [Steward] having made financial arrangements that will allow them to fulfill their payment obligations under the contract." Having not received proper evidence of financing, the firm ordered subcontractors to halt all work on the site. [50] And in Norwood, Massachusetts, construction to replace Norwood Hospital, which was fully evacuated and subsequently demolished [51] due to damage from flooding caused by an intense 2020 rainstorm, [52] was stopped due to nonpayment. [53]
In late March 2024, Steward announced a deal made to sell its physician network Stewardship Health to Optum, a subsidiary of UnitedHealth Group and already the largest employer of physicians in the United States. As of April, the deal was pending regulatory approval. [54]
On February 2, 2024, Steward announced to employees that they had agreed to a "significant financial transaction" that would allow their Massachusetts hospitals to continue operations while they continued to explore options for selling some facilities to other operators. The terms of the deal and the source of the funding were not immediately disclosed, [55] however later reporting indicated that the system refinanced its debt with a $600 million loan in 2023 and received a bridge loan of $150 million in January, the two loans coming from a group of asset management firms including Sound Point Capital Management, Oaktree Capital Management, WhiteHawk Capital Partners, Owl Creek Asset Management, MidOcean Partners, and Brigade Capital. [56]
Steward's future in individual locales and as a whole remains in question amid its mounting widespread financial and legal issues. Massachusetts lawmakers all but committed to ruling out a bailout, stating that the system had already received $54 million in previous years in the form of COVID-19 relief aid. Also contributing to lawmakers' stance on the issue was Steward's repeated refusal to provide financial reports to the state, a requirement of all hospitals under state law and one which Steward has been battling the state over for years [57] - which was cited as a reason they were provided significantly less American Rescue Plan Act money in the third round of this aid. [58] Medical Properties Trust, in a February Securities and Exchange Commission report, reported operating losses of $664 million for the fourth quarter of 2023, specifically noting $772 million in "write-offs and impairments" which they attributed primarily to Steward. [59] Further, MPT deferred collection of full rent payments until June. [60] In addition, conditions of Steward's January 2024 bridge loan require that the company demonstrate an ability to begin paying its debts by April 30, the end of their forbearance period. While Steward in February said that it has a plan to come out of the forbearance period as a sustainable company, economic experts, specifically ones who have studied Steward for years, expressed doubt that the system will be able to achieve this given the amount of debt and further predicted that bankruptcy is likely. [61] While the proposed sale of its physician network to Optum would be expected to provide a significant windfall, it is not expected that a sale would be approved in the near future and there are doubts that the sale would obtain regulatory approval given federal scrutiny into Optum's alleged anticompetitive practices. [62]
Company type | Private |
---|---|
Industry | Healthcare |
Founder | Ralph de la Torre |
Headquarters | , Spain |
Number of locations | 4 hospitals |
Areas served |
|
Key people | Armin Ernst (CEO, President) |
Website | www |
At the end of 2017, Steward announced an upcoming international expansion which was finalized in February 2018, in which they took over Vitals Global Healthcare of Malta, creating Steward Health Care International. [63] VGH, an embattled Maltese healthcare company, was the center of a controversial 2015 deal in which it was contracted with the government to take over administration of the island nation's hospitals. The 2015 deal with VGH was widely controversial especially among physicians, who raised concerns both about the government relinquishing control of the public healthcare system and about VGH's lack of experience in the healthcare sector. [64] In 2018, amid allegations of collusion between VGH and government officials, lack of progress in the rehabilitation of the hospitals, and accusations that VGH was siphoning money out of the country, parties agreed to a deal that would see Steward purchase VGH for just €1, while the Maltese government would pay VGH €50 million to accept the deal. [65] The transfer of Malta's hospitals to Steward did not sate the public's concerns, and Steward's presence remained unpopular until 2023 when Maltese courts annulled the 2018 deal amid allegations of fraud and continued lack of progress in hospital renovations and construction, ultimately returning control of the hospitals to the government. [66]
In the early 2020s, Steward Health Care International also expanded into Colombia [67] and the Middle East. [68]
In late 2020, Steward entered the Colombian healthcare market with the purchase of three hospitals in the country: Hospital Universitario Clínica San Rafael and Clínica Centenario in the capital city of Bogotá, and Clínica Los Nevados in Pereira. CEO Ralph de la Torre spoke about Steward's plans and goals in the nation, saying that COL$102.000 million (US$28 million) would be invested in the three hospitals, most of which would be spent on Los Nevados which had been closed following damage from an earthquake several years prior. [69] De la Torre expressed that Steward wanted to grow significantly in the region, hoping to eventually have "between 10 and 15 hospitals in the country." [70] In 2023, Steward opened two hospitals in Colombia: the new Clínica San Rafael in Popayán [71] and the fully renovated Clínica Los Nevados. [72]
In 2022, Steward International created Steward Middle East, which partnered with Saudi Arabian venture capital company Alfanar to create a joint venture named Steward alf Global Healthcare Company. That year, they signed a contract with the Red Sea Development Company to build and operate a new hospital as part of the Red Sea Project, a massive tourism development under construction on the nation's coast. The company would also be responsible for emergency response planning for the site. [73] Steward Middle East also reportedly included ventures in Riyadh as well as Dubai in the UAE. [74]
In 2023, a Steward representative expressed the company's interest in expanding into Egypt as well. [75]
As of 2024, Steward International was headquartered in Madrid, Spain. [76]
Steward intended to become a low-price leader in the provision of high quality care. [77] Consistent with this model, the System had taken steps to reduce the direction of surgical patients toward outside teaching hospitals in the Boston area. [77] The system has also worked with payers to negotiate patient group-oriented budget pricing.[ citation needed ]
Steward Health Care directly manages a network of hospitals across several states. In addition, it comprises several subsidiaries which manage different aspects of its integrated healthcare model:
Steward has received criticism for its approach to health care and transparency, especially following the revelation of significant financial struggles in the beginning of 2024. Health care officials have pointed to the concerns which Steward's financial condition and operations has raised about the role of private equity in healthcare. [81]
In 2017, Steward sued the Massachusetts Center for Health Information and Analysis (CHIA) to avoid providing financial information to the agency. [82] CHIA, an independent state agency charged with monitoring the financial condition of Massachusetts' hospital industry, [83] had been in talks with Steward since the previous year in an attempt to reach a deal over its financial disclosures, and had been imposing fines of $1000 per week for delinquency. At the time, Steward was the only hospital system in the state to repeatedly fail to submit required company-wide financial statements, not having fulfilled the requirement since 2015. [82] In its suit, Steward said that the financial statements "contain sensitive, proprietary business information related to long-term debt, relationships with investors, retirement plans, and significant transactions that is not otherwise publicly available [...] Steward keeps information contained in the notes [of its financial statements] confidential because releasing the notes would cause harm to Steward." Steward further stated that their concerns were related to CHIA's past publicization of their financial data, and argued that the agency had no authority to collect the information. In 2023, a judge ruled in favor of the state, confirming that CHIA had the authority to demand the information. Steward filed an appeal, [84] which was still pending into early 2024 and which state officials have highlighted - U.S. House Representative Stephen Lynch said in January, "we had not had advance notice prior to a week ago that they were in difficulty, or that they were contemplating exiting the Massachusetts health care market." [85]
Many have pointed to Steward's sales of its acquired hospitals' properties to Medical Properties Trust over the years as a key factor in their current financial state, given at least $50 million of their debt is in past-due rent payments on these properties. [86] In 2023, just before the closing of Steward's Texas Vista Medical Center, Steward officials stated that the lease payment on the hospital was $5 million per year, saying "[t]hat represents 3% of the annual operating budget and was absolutely not a factor in the decision to close the hospital." [87] However, audio obtained by CBS News of a Steward leadership meeting revealed that the system was "trying to get out of lease obligations." [42]
Further, Steward's debts to outside vendors have raised concerns for patient safety, especially after multiple adverse incidents across its hospitals relating to staffing and equipment availability. Following several patient deaths and safety incidents alleged to have been avoidable at two Massachusetts hospitals, [88] state officials in 2024 planned to place monitors at all Steward hospitals in the state to ensure quality care and safety. [89]
Steward has attributed much of its financial woes in Massachusetts to the COVID-19 pandemic, as well as their system mainly comprising community hospitals which serve low-income populations, where 70% of their patients are recipients of Medicare and Medicaid. They also complained of the gap between the reimbursement rates from public and private insurers pay community hospitals versus larger academic medical centers. [90] State officials, in response, raised questions regarding the use of tens of millions of dollars in pandemic relief provided to the company by the federal government. Bloomberg reported in September 2020 that at the time, the amount Steward had received in federal grants and loans stood at $675 million. [23]
Elsewhere, such as in Texas and Arizona, Steward has pointed to under-utilization as a factor in closures. In Phoenix for example, St. Luke's Medical Center's former CEO said the hospital's 2019 closure came as two out of three beds were routinely unoccupied. [91]
Massachusetts Governor Maura Healey, in a February 2024 letter to Ralph de la Torre, criticized the system's handling of the crisis, what brought them there, and their seeming opacity with state officials throughout. [92]
Massachusetts law requires disclosure of hospitals’ system-level audited financial statements to help us avoid precisely the situation you have created: we have no insight into your allocation of resources across operating units or states, and therefore no clear sense of the financial viability of the hospitals serving Massachusetts residents.
— Massachusetts Governor Maura Healey
Defending themselves, Steward responded in two press releases stating that they have "tried to be transparent, compliant and cooperative over the years in providing a significant amount of detailed and relevant financial documentation to various state agencies and regulatory bodies and moving forward it commits to do even better." [93] The also stated that "[w]e have played with our cards face up on these data requests," and that "at their request, we have provided the Attorney General (AGO) and Executive Office of Health and Human Services (EOHHS) 613 megabytes – running across tens of thousands of pages – of financial and operating materials over the last two months," [94] despite their earlier appeal to avoid providing complete information.
Hospital | Location | Bed Count | Emergency Department | Founded | Status | Notes |
---|---|---|---|---|---|---|
Carney Hospital | Dorchester, Massachusetts | 159 [95] | Yes | 1863 | Open | One of Steward's original facilities. Founded by Daughters of Charity of Saint Vincent de Paul and Andrew Carney. First Catholic hospital in New England. |
Coral Gables Hospital | Coral Gables, Florida | 245 [96] | Yes | 1926 | Open | Founded as Tallman Hospital, renamed to Coral Gables Hospital after being purchased by Hospital Affiliates, Inc. in 1971. [97] Purchased by Steward from Tenet Healthcare in August 2021 [98] |
Davis Hospital and Medical Center | Layton, Utah | Yes | 1976 [99] | Sold 2023 | Sold in 2023 to CommonSpirit Health and renamed Holy Cross Hospital - Davis. [35] | |
Florida Medical Center | Fort Lauderdale, Florida | 434 [100] | Yes | Open | Purchased by Steward from Tenet Healthcare in August 2021. [101] | |
Glenwood Regional Medical Center | West Monroe, Louisiana | 274 [102] | Yes | Open | Acquired by Steward in September 2017 as part of purchase of IASIS Healthcare. [103] | |
Good Samaritan Medical Center | Brockton, Massachusetts | 294 [104] | Yes | 1968 [105] | Open | One of Steward's original facilities. Originally named Cardinal Cushing Hospital, was renamed after 1994 merger with Goddard Memorial Hospital. [106] |
Hialeah Hospital | Hialeah, Florida | 340 [107] | Yes | 1951 | Open | Purchased by Steward from Tenet Healthcare in August 2021. [108] |
Hillside Rehabilitation Hospital | Warren, Ohio | 65 [109] | No | 1963 [110] | Open | Purchased by Steward from Community Health Systems in May 2017. [111] |
Holy Family Hospital (Haverhill) | Haverhill, Massachusetts | 122 [112] | Yes | 1887 | Open | One of Steward's original hospitals. Originally owned by the city of Haverhill and named Hale Hospital. Renamed Merrimack Valley Hospital when city sold hospital to Essent Health Care. [113] Integrated under the Holy Family Hospital name by Steward in 2014. [114] |
Holy Family Hospital (Methuen) | Methuen, Massachusetts | 310 [115] | Yes | 1950 [116] | Open | One of Steward's original hospitals. Originally named Bon Secours Hospital. [117] |
Jordan Valley Medical Center | West Jordan, Utah | Yes | 1983 [118] | Sold 2023 | Sold in 2023 to CommonSpirit Health and renamed Holy Cross Hospital - Jordan Valley. [35] | |
Jordan Valley Medical Center - West Valley Campus | West Valley City, Utah | Yes | 1964 [119] | Sold 2023 | Sold in 2023 to CommonSpirit Health and renamed Holy Cross Hospital - Jordan Valley West. [35] | |
Melbourne Regional Medical Center | Melbourne, Florida | 96 [120] | Yes | 2002 [121] | Open | Originally named Wuesthoff Medical Center. [122] Purchased by Steward from Community Health Systems in May 2017 and renamed. [123] |
Morton Hospital | Taunton, Massachusetts | 108 [124] | Yes | 1889 [125] | Open | One of Steward's original facilities. |
Mountain Point Medical Center | Lehi, Utah | Yes | 2015 [126] | Sold 2023 | Sold in 2023 to CommonSpirit Health and renamed Holy Cross Hospital - Mountain Point. [35] | |
Nashoba Valley Medical Center | Ayer, Massachusetts | 38 [127] | Yes | 1965 [128] | Open | Originally named Nashoba Community Hospital. One of Steward's original facilities. |
New England Sinai Hospital | Stoughton, Massachusetts | 203 [129] | No | 1927 [130] | Closed April 2024 [131] | Founded as the Jewish Tuberculosis Sanatorium in 1927, originally in Rutland, MA. Renamed New England Sinai when it moved to Jamaica Plain in 1954. Moved to Stoughton in 1976. Purchased by Steward in 2012 [132] |
North Shore Medical Center | Miami, Florida | 748 [133] | No | 1953 [134] | Open | Purchased by Steward from Tenet Healthcare in August 2021. [135] |
Norwood Hospital | Norwood, Massachusetts | 185 (FY 2020) [136] | Temporarily Closed | 1917-1919 [137] [138] | Temporarily Closed | One of Steward's original facilities. Evacuated and demolished following flood in 2020, with replacement facility still under construction as of January 2024. [139] |
Odessa Regional Medical Center | Odessa, Texas | 208 [140] | Yes | 1975 | Open | Acquired by Steward in September 2017 as part of purchase of IASIS Healthcare. [141] |
Palmetto General Hospital | Hialeah, Florida | 358 [142] | Yes | 1971 [143] | Open | Purchased by Steward from Tenet Healthcare in August 2021. [144] |
Rockledge Regional Medical Center | Rockledge, Florida | 274 [145] | Yes | 1941 [146] | Open | Originally named Eugene Wuesthoff Memorial Hospital. Acquired and renamed by Steward in September 2017 as part of purchase of IASIS Healthcare. [147] |
Salt Lake Regional Medical Center | Salt Lake City, Utah | Yes | 1875 [148] | Sold 2023 | Sold in 2023 to CommonSpirit Health and renamed Holy Cross Hospital - Salt Lake. [35] | |
Sebastian River Medical Center | Sebastian, Florida | 145 [149] | Yes | 1974 [150] | Open | Purchased by Steward from Community Health Systems in May 2017. [151] |
Sharon Regional Medical Center | Sharon, Pennsylvania | 163 [152] | Yes | 1896 [153] | Open | Originally named Christian H. Buhl Hospital. Purchased by Steward from Community Health Systems in May 2017. [154] |
St. Anne's Hospital | Fall River, Massachusetts | 187 [155] | Yes | 1906 [156] | Open | One of Steward's original facilities. |
St. Elizabeth's Medical Center | Brighton, Massachusetts | 226 [157] | Yes | 1868 [158] | Open | One of Steward's original facilities. |
St. Joseph Medical Center | Houston, Texas | 290 [159] | Yes | 1887 | Open | Acquired by Steward in September 2017 as part of purchase of IASIS Healthcare. [160] |
St. Luke's Behavioral Health Center | Phoenix, Arizona | 127 [161] | No | 1969 [162] | Open | Acquired by Steward in September 2017 as part of purchase of IASIS Healthcare. [163] |
St. Luke's Medical Center | Phoenix, Arizona | 219 [164] | Yes | Closed 2019 [165] | Acquired by Steward in September 2017 as part of purchase of IASIS Healthcare. [166] Ended normal operations in 2019, but was readied for potential use as a surge facility during the COVID-19 pandemic. [167] | |
Tempe St. Luke's Hospital | Tempe, Arizona | 64 [168] | Yes | 1944 [169] | Open | Acquired by Steward in September 2017 as part of purchase of IASIS Healthcare. [170] |
Texas Vista Medical Center | San Antonio, Texas | Closed 2023 [42] | Formerly named Southwest General Hospital | |||
The Medical Center of Southeast Texas | Port Arthur, Texas | 216 [171] | Yes | 2005 [172] | Open | Acquired by Steward in September 2017 as part of purchase of IASIS Healthcare. [173] |
The Medical Center of Southeast Texas - Victory Campus | Beaumont, Texas | Yes | 2013 [174] | Closed February 2024 | Originally named Victory Medical Center Beaumont until purchase by The Medical Center of Southeast Texas in 2015. [175] Acquired by Steward in September 2017 as part of purchase of IASIS Healthcare. [176] | |
Trumbull Regional Medical Center | Warren, Ohio | 214 [177] | Yes | Open | Acquired by Steward in September 2017 as part of purchase of IASIS Healthcare. [178] | |
Wadley Regional Medical Center | Texarkana, Texas | 185 [179] | Yes | 1900 | Open | Acquired by Steward in September 2017 as part of purchase of IASIS Healthcare. [180] Construction began in 2021 of future replacement facility at a different location in Texarkana. [181] |
Wadley Regional Medical Center at Hope | Hope, Arkansas | Yes | 1955 [182] | Open | Originally named Hempstead County Memorial Hospital. [183] Acquired by Steward in September 2017 as part of purchase of IASIS Healthcare. [184] |
Hospital | Municipality | Country | Emergency Department | Founded | Status | Notes |
---|---|---|---|---|---|---|
Clínica Centenario | Bogotá | Colombia | Open | |||
Clínica Los Nevados | Pereira | Colombia | Yes [185] | Reopened 2023 [186] | Open | |
Clínica San Rafael de Popayán | Popayán | Colombia | Yes [187] | 2023 [188] | Open | |
Hospital Universitario Clínica San Rafael | Bogotá | Colombia | Yes [189] | Open | ||
Gozo General Hospital | Victoria | Malta | Open | |||
Karin Grecht Hospital | Pietà | Malta | Open | |||
St. Luke's Hospital | Pietà | Malta | Closed for Refurbishment | |||
Coastal Village Hospital | The Red Sea | Saudi Arabia | Planned | Future | Being Developed | Planned for construction in a residential section of the Red Sea Project, a tourism project on the west coast of Saudi Arabia. Emergency department will be specialized for tourism, including having a hyperbaric chamber. [190] |
Massachusetts General Hospital is the original and largest teaching hospital of Harvard Medical School, Harvard University located in the West End neighborhood of Boston, Massachusetts. Massachusetts General Hospital houses the world's largest hospital-based research program, the Mass General Research Institute, with an annual research budget of more than $1.2 billion in 2021. It is the third-oldest general hospital in the United States with a patient capacity of 999 beds. Along with Brigham and Women's Hospital, Mass General is a founding member of Mass General Brigham, formerly known as Partners HealthCare, the largest healthcare provider in Massachusetts.
Mass General Brigham is a not-for-profit, integrated health care system that is a national leader in medical research, teaching, and patient care. It is the largest hospital-based research enterprise in the United States, with annual funding of more than $2 billion. The system's annual revenue was nearly $18 billion in 2022. It is also an educational institution, founded by Brigham and Women's Hospital and Massachusetts General Hospital. The system provides clinical care through two academic hospitals, three specialty hospitals, seven community hospitals, home care services, a health insurance plan, and a robust network of specialty practices, urgent care facilities, and outpatient clinics/surgical centers. It is the largest private employer in Massachusetts. In 2023, the system reported that from 2017–2021 its overall economic impact was $53.4 billion – more than the annual state budget.
Tenet Healthcare Corporation is a for-profit multinational healthcare services company based in Dallas, Texas, United States. Through its brands, subsidiaries, joint ventures, and partnerships, including United Surgical Partners International (USPI), the company operates 65 hospitals and over 450 healthcare facilities. Tenet also operates Conifer Health Solutions, which provides healthcare support services to health systems and other clients.
Boston Medical Center (BMC) is a non-profit 514-bed academic medical center and safety-net hospital in the South End neighborhood of Boston, Massachusetts. As part of the Boston Medical Center Health System, the hospital provides primary and specialty care to residents of the Greater Boston area. It is also the principal teaching hospital of Boston University Chobanian & Avedisian School of Medicine and home to 66 residency and fellowship training programs.
Universal Health Services, Inc. (UHS) is an American Fortune 500 company that provides hospital and healthcare services, based in King of Prussia, Pennsylvania. In 2023, UHS reported total revenues of $14.3b.
Carney Hospital is a small for-profit community teaching hospital located in the Dorchester neighborhood of Boston, Massachusetts. It is owned and operated by Dallas-based Steward Health Care.
St. Elizabeth's Medical Center is a mid-size for-profit teaching hospital located in the Brighton neighborhood of Boston, Massachusetts. St. Elizabeth's is a part of Dallas-based Steward Health Care System, a private, for-profit health care system which took over the hospital in 2010 as part of its acquisition of the non-profit Caritas Christi Health Care system from the Archdiocese of Boston.
Founded in 1891, Lowell General Hospital is an independent, not-for-profit community hospital serving the Greater Lowell area and surrounding communities. With two primary campuses located in Lowell, Massachusetts, Lowell General Hospital offers a full range of medical and surgical services for patients. Lowell General Hospital is a member of the Voluntary Hospitals of America. Lowell General is affiliated with Tufts Children's Hospital in Boston.
Samuel Osiah Thier was professor of Medicine and Health Care Policy at Harvard University. He earned his medical degree at the State University of New York Upstate Medical University in 1960. He previously served as the president of Brandeis University from 1991–1994 and the president of the Massachusetts General Hospital from 1994-96.
The Holy Cross Hospital - Salt Lake is a 158-bed hospital located in Salt Lake City, Utah. One of the few Catholic hospitals in Utah for over a century was sold by the Sisters of the Holy Cross in 1994 to the for-profit institution, HealthTrust. However, Salt Lake Regional Medical Center is now Holy Cross Hospital — Salt Lake after being bought by CommonSpirit Health Network in early 2023. This completes transitioning the name back to its original founding form.
Quincy Medical Center was a small for-profit community hospital located in Quincy, Massachusetts for 124 years, from 1890 to 2014. A municipal hospital for most of its existence, it transitioned to non-profit in 1999 and then for-profit when it was purchased by Steward Health Care in 2011. It was closed in 2014 due to year of financial difficulties, though Steward's nearby Carney Hospital continued to operate the former hospital's ED as a stand-alone on the same site until 2020.
MelroseWakefield Hospital is a 174-bed non-profit hospital located in Melrose, Massachusetts. MelroseWakefield Hospital and Lawrence Memorial Hospital of Medford function as one hospital entity with two campus locations. The MelroseWakefield Hospital campus provides many different areas of inpatient patient care including general surgery, interventional cardiovascular services, gynecology, maternity, special care nursery, orthopedics, and urology. It also offers outpatient care such as same day surgery, endoscopy, imaging and emergency services as well as serving as the region's Level III Trauma Center.
Athenahealth is a private American company that provides network-enabled services for healthcare and point-of-care mobile apps in the United States.
Caritas Christi Health Care was a non-profit Catholic healthcare system in the New England region of the United States. It was established in 1985 and was the second largest healthcare system in New England. In 2010, Caritas Christi was sold to the private equity firm Cerberus Capital Management, which converted it to a for-profit company and renamed it Steward Health Care System. Cain Brothers acted as Caritas Christi's advisor for this transaction, for which they received Deal of the Year honors from Investment Dealer's Digest.
Norwood Hospital was a small for-profit community hospital in Norwood, Massachusetts. A member of Steward Health Care, the hospital was evacuated and closed after a significant June 2020 rainstorm led to destructive flooding. While reconstruction was started to reopen the hospital, work halted in February 2024 amid reports of financial instability and unpaid bills across the Steward Health Care System.
North Adams Regional Hospital was a full-service community hospital in North Adams, Massachusetts. It served the Northern Berkshire communities of Adams, Cheshire, Clarksburg, Florida, Lanesborough, North Adams, Savoy, Williamstown and communities in southern Vermont and in eastern New York state. The hospital was part of Northern Berkshire Healthcare (NBH), a not-for-profit organization. NBH closed it on March 28, 2014.
Medical Properties Trust, Inc., based in Birmingham, Alabama, is a real estate investment trust that invests in healthcare facilities subject to NNN leases. The company owns 438 properties in the United States, Australia, Colombia, Germany, Italy, Portugal, Spain, Switzerland, Finland, and the United Kingdom.
Cooley Dickinson Hospital is a nonprofit community hospital located in Northampton, Massachusetts. It is the primary hub of Cooley Dickinson Health Care, a regional network of primary and specialty care medical providers, an affiliate of Massachusetts General Hospital, which is part of Mass General Brigham.
Beth Israel Lahey Health (BILH) is a non-profit integrated health system based in Massachusetts, with locations in New Hampshire. Formed through the 2019 merger of two large Massachusetts health systems led by Beth Israel Deaconess Medical Center and Lahey Hospital & Medical Center, it is the largest health system in Massachusetts by count of hospitals, with 10 acute-care hospitals in the state.