Steward Health Care Sells Physician Group to Optum Care Amid Financial Instability Concerns

By Eleanor Harrison Mar27,2024
Optum Care acquires physician group from struggling Steward Health Care

In recent news, Steward Health Care in Massachusetts has reached a deal to sell its physician group to Optum Care, according to Sen. Edward J. Markey D-Mass. The company, which operates nine healthcare facilities in the state, has been facing financial instability due to accumulated debt. Previously owned by Cerberus Capital Management, a private equity firm that made substantial profits from Steward, the sale is seen as a step towards financial stability for the company.

Sen. Markey expressed concern over Steward’s financial insecurity and urged for a transition away from their practices. He emphasized the importance of maintaining healthcare access and ensuring patients and providers are the top priority. Markey suggested that Optum Care must demonstrate their commitment to controlling costs and prioritizing patient care.

As the chair of the Senate Health, Education, Labor, and Pensions Subcommittee on Primary Health and Retirement Security, Markey has called for Steward CEO Dr. Ralph de la Torre to testify at a congressional hearing in Boston on April 3rd. The hearing aims to shed light on the company’s financial situation and its impact on patients and providers in Massachusetts.

In light of this news, readers can reach out to Sen. Markey’s office at edwardjmarkey@senate.gov for more information or updates on the hearing proceedings.

For more information on healthcare reforms that prioritize patient outcomes over profit motives, readers can visit Sen. Markey’s website at markeyforhealthcare.com/

By Eleanor Harrison

As a content writer at newseasoning.com, I infuse flavor into words, crafting compelling stories that captivate and inform our audience. With a keen eye for detail and a passion for creativity, I strive to create content that not only engages but also inspires. Whether I'm concocting a savory blog post or whipping up a spicy product description, I pour my heart and soul into every piece I write. Join me on this flavorful journey as we explore the tantalizing world of content creation together.

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