• Sat. May 25th, 2024

Steward Health Care Sells Physician Group to Optum Care Amid Financial Instability, Senator Markey’s Concerns

BySamantha Nguyen

Mar 27, 2024
Optum Care acquires physician group from struggling Steward Health Care

Senator Markey has announced that Steward Health Care in Massachusetts has sold its physician group to Optum Care. The company, which operates nine healthcare facilities in the state, is facing financial instability due to accumulated debt. Previously owned by Cerberus Capital Management, Steward made $800 million in profit from the sale.

Senator Markey expressed concern about Steward’s financial situation and its impact on hospitals in Massachusetts and beyond. He emphasized the importance of moving away from Steward’s financial instability for the state’s healthcare system. Markey hopes that Optum Care will prioritize controlling costs and prioritizing patients and providers.

Markey criticized the healthcare system for focusing more on profit than patient outcomes. He believes that healthcare reform is necessary to address these issues. As chair of the Senate HELP Subcommittee on Primary Health and Retirement Security, Markey has invited Steward CEO Dr. Ralph de la Torre to testify at a congressional hearing in Boston on April 3rd.

For more information, please contact SMorse@himss.org

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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