Steward Health Care Sells Physicians Network

Steward Health Care has announced the sale of its physicians' network, Stewardship Health, to Rural Healthcare Group (RHG), an affiliate of private equity firm Kinderhook Industries, for $245 million. This transaction, part of Steward's Chapter 11 bankruptcy proceedings, is pending regulatory and bankruptcy court approvals. RHG, which operates 17 clinics in Tennessee and North Carolina, aims to enhance primary care services in Massachusetts. The sale is seen as a strategic move to maintain continuity of care for patients in underserved areas. Additionally, Steward is facing significant financial challenges, leading to the closure of several hospitals and ongoing sales of other facilities. Community and regulatory hearings are being held to address the impact of these closures on local healthcare services.