Steward Health Care, the American healthcare provider whose international arm had acquired Malta’s controversial hospitals’ PPP, has filed for bankruptcy in Texas. The company said it is relying on its landlord, Medical Properties Trust, to provide sufficient funding to allow its hospitals to continue to operate through bankruptcy. Steward will seek up to $300 million in financing from Medical Properties Trust, after failing to quickly close a sale of its physician group Stewardship Health. The company is asking for $75 million to start its bankruptcy case, with up to $225 million at a later date. The company started buying up Massachusetts hospitals in 2010, with hundreds of millions of dollars in backing from private equity giant Cerberus.

Source: Libya Today May 07, 2024 11:36 UTC