Fri. Jun 14th, 2024
Optum Care acquires physician group from struggling Steward Health Care

Senator Edward J. Markey of Massachusetts has recently announced that Steward Health Care, which operates nine healthcare facilities in the state, has sold its physician group to Optum Care. This news comes amidst financial difficulties for Steward, which is currently struggling with accumulated debt. The company was previously owned by Cerberus Capital Management, a private equity firm that made substantial profits from Steward.

Senator Markey expressed his concern over Steward’s financial instability and urged for a change in 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.

Markey highlighted the need for healthcare reforms that prioritize patient outcomes over profit motives. 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.

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By Aiden Nguyen

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