Steward Health Care Files For Bankruptcy, Aims For New Loan For Restructuring
Steward Health Care, a U.S. health care system with 31 hospitals across eight states, filed for Chapter 11 bankruptcy protection in Texas in early May. The company said its facilities would operate as normal during the bankruptcy. In the restructuring, it is seeking initial funding of $75 million and up to an additional $225 million upon the satisfaction of certain conditions acceptable to Medical Properties Trust.
Texas-based Steward is the largest private physician-owned for-profit health care network in the U.S. It is finalizing the terms of debtor-in-possession financing from Medical Properties Trust, its . . .