Steward Health Care Sells Four Massachusetts Hospitals

Steward Health Care, currently in Chapter 11 bankruptcy, has finalized agreements to sell four of its hospitals in Massachusetts to not-for-profit health systems in a bid to secure ongoing healthcare access for local communities. Lifespan will acquire Morton Hospital and Saint Anne's Hospital, while Lawrence General Hospital will take over the Holy Family Hospital facilities in Methuen and Haverhill. These deals come after months of uncertainty regarding the future of these facilities, significantly alleviating concerns from healthcare workers and community members. Steward is also in the process of finalizing the sale of Good Samaritan Medical Center and St. Elizabeth's Medical Center to Boston Medical Center. The transactions are subject to U.S. Bankruptcy Court approval and regulatory clearances, with a hearing scheduled for September 4. Steward’s chief restructuring officer expressed optimism about partnering with established healthcare providers to support underserved populations in the region.