Steward Health Care Sells Physician Group to Optum Care: What Does it Mean for Patient Care?

Optum Care acquires physician group from struggling Steward Health Care

Steward Health Care in Massachusetts has recently sold its physician group to Optum Care, as announced by Senator 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 marks a new chapter for the struggling healthcare provider.

Senator Markey expressed his concern over Steward’s financial situation and urged for a change in their practices. He emphasized the importance of ensuring patients and providers are at the forefront of any healthcare decisions, while also stressing the need for cost control measures. Markey urged Optum Care to demonstrate their commitment to patient care and cost control as they take over the physician group.

The senator also called for healthcare reforms that prioritize patient outcomes over profit motives. As chair of the Senate Health, Education, Labor, and Pensions Subcommittee on Primary Health and Retirement Security, he has invited Steward CEO Dr. Ralph de la Torre to testify at a congressional hearing in Boston on April 3rd.

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