You don't know what poor FOR PROFIT HEALTH CARE is until you're a victim of STEWARD!
Doctors are paid based on PRODUCTION not CARE or outcomes.
Unnecessary and expensive tests are ordered without adequate precautions and follow-through.
Experienced, trained staff is replaced with young Ding-A-Lings, under-qualified and frequently incompetent.
Staffing is wholly inadequate.
If you can't advocate for yourself, make sure you have a competent advocate monitoring your care.
Steward closes deal to acquire 18 hospitals in six states
By Jessica Bartlett Reporter, Boston Business Journal
Steward Health Care System has finalized the acquisition of a Tennessee-based health care system, bringing 18 hospitals in six states into the Steward brand.
Steward announced in May that it planned to acquire IASIS Healthcare LLC. In total, Steward will operate 36 hospitals in states that now include Arizona, Arkansas, Colorado, Louisiana, Texas, and Utah.
Real estate investment trust Medical Properties Trust (NYSE: MPW) closed on the $1.9 billion purchase of the acquired hospitals’ real estate as part of the deal. MPT contributed $1.4 billion, with undisclosed investors investing the remainder. The Alabama-based REIT also increased its equity stake in Steward by another $100 million.
“This merger enables Steward to expand our successful, physician-led model that keeps patients healthy and close to home,” said Dr. Ralph de la Torre, chairman and CEO of Steward Health Care, in a release.
The combined system will have a projected revenue of almost $8 billion, making Steward the largest private hospital operator in the U.S., the company said. Combined, Steward will have 38,000 employees, 1,400 employed physicians and 4,700 integrated network physicians.
While the hospital names won’t change at the acquired institutions, Steward will replace the IASIS brand nationally, bringing the Massachusetts brand to another 17 acute care hospitals hospitals and one behavioral health hospital — or nearly 7,500 patient beds.
The deal is the latest for Steward, which announced plans in February to acquire eight hospitals in Ohio, Pennsylvania and Florida from Community Health System.
The health system said it has received all federal approvals to move forward with the IASIS deal. Steward submitted filings with the Massachusetts health care watchdog The Health Policy Commission last week for both the IASIS and Community Health Systems transactions, but is not holding off on moving forward with the acquisitions because the deals are not state based.
Steward was created in 2010 out of the acquisition of Caritas Christi. Owned by private investment firm Cerberus Capital Management, the system is one of the largest in Massachusetts by number of acute-care hospitals, previously tied with Partners HealthCare’s eight acute-care hospitals. Steward also owns an acute-care rehabilitation hospital, New England Sinai.
Though Cerberus acquired a total of 11 hospitals for the Steward network, it has since closed Quincy Medical Center and merged Merrimack Valley with Holy Family Hospital in August 2014.
Steward made big moves in September 2016, when it announced it would expand nationally thanks to a $50 million investment from Alabama-based Medical Properties Trust — as well as from money Steward made selling its real estate to the REIT for $1.2 billion.
In February it started a national expansion, acquiring eight hospitals from Community Health System.
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