Steward Health Care Holdings LLC, the parent company of eight hospitals in Massachusetts, filed for bankruptcy protection. This move led to numerous legal filings that shed light on the company’s financial operations. The largest unsecured claim in the bankruptcy filing is $71 million owed to Change Healthcare, a healthcare technology company owned by Optum.
Steward also owes significant amounts to medical device providers such as Philips North America. Local businesses like Boston Scientific and ProMedical are among those seeking repayment, with substantial claims of $5.4 million and $5.2 million, respectively. The bankruptcy filing for Steward Health Care Holdings LLC includes a range of debts between $1 billion and $10 billion, with assets falling within the same range.
Steward Health Care owns eight hospitals in Massachusetts including Good Samaritan Medical Center in Brockton, Morton in Taunton and Saint Anne’s in Fall River. The company has disclosed its debts to be between $1 billion and $10 billion with assets falling within the same range. Steward is indebted to over 100,000 creditors with varying amounts owed.