Steward Health Care

Steward Health Care, the largest for-profit health system in the U.S., has agreed to sell two hospitals as part of its Chapter 11 bankruptcy reorganization. The Wadley Regional Medical Center in Hope, Arkansas, is being sold to Pafford Health Systems for $200,000, while the Glenwood Regional Medical Center in West Monroe, Louisiana, will be acquired by AHS South LLC for $500,000. Both sales are subject to bankruptcy court approval and include the assumption of certain liabilities. This restructuring comes amid a bipartisan Senate investigation into Steward's financial practices, with CEO Ralph de la Torre expected to testify. The company had filed for bankruptcy on May 6, 2024, and is actively marketing all 33 of its hospitals. Community leaders express optimism about the local impact of Pafford's bid, emphasizing their commitment to rural healthcare.