• Tue. May 28th, 2024

Boston Health Care Giant Faces Financial Struggles: Steward Sells Major Physician Network to Optum Care

BySamantha Nguyen

Mar 27, 2024
Struggling Steward Health Care to sell majority of operations to Optum Care

Boston-based Steward Health Care Network is facing significant financial struggles and has accumulated millions of dollars in debt. In an effort to address these issues, the hospital group has announced that it will sell a major portion of its operations. According to a notice filed with the state of Massachusetts, Optum Care, a subsidiary of UnitedHealth Group, will be purchasing Steward’s physician network. This means that doctors currently employed by Steward in nine different states will soon be working for Optum Care.

The sale does not include the physical hospitals owned by Steward, but there are indications that more transactions may be on the horizon. The Massachusetts Health Policy Commission (HPC), an independent state agency responsible for monitoring healthcare spending, still needs to review the proposed sale. HPC Executive Director David Seltz stated that the sale involves two large medical providers with significant implications for healthcare delivery and costs in Massachusetts. The HPC will examine potential impacts on health care costs, quality, access, and equity before the sale can be completed.

Mike Toole, Managing Editor at wbz.com in Boston has been working in the WBZ-TV newsroom for over 20 years and has previous experience in news and sports production at WABC-TV in New York.

By Samantha Nguyen

As a content writer at newsqwe.com, I am passionate about crafting engaging and informative articles that captivate our audience. With a background in journalism and a keen eye for detail, I strive to deliver content that is not only well-researched but also adds value to our readers' lives. From breaking news stories to in-depth features, I take pride in my ability to tell compelling stories that resonate with our diverse audience. When I'm not typing away at my keyboard, you can find me exploring new cafes, practicing yoga, or getting lost in a good book. I am thrilled to be a part of the newsqwe.com team and look forward to sharing my love for writing with all of our readers.

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