Tue. Jun 25th, 2024
UnitedHealth acquires doctor network from Steward Health Care

Steward Health Care, a troubled hospital operator in Massachusetts, is facing a financial crisis that has impacted its eight hospitals. In an effort to stabilize its finances, Steward has made the decision to sell its nationwide physician network to UnitedHealth’s Optum Care unit. This move is part of Steward’s overall plan to strengthen its national system of 33 hospitals, especially after falling behind in payments to various parties last year.

On Tuesday, a subsidiary of Optum called Collaborative Care Holdings, LLC, officially filed notice with the state’s Health Policy Commission regarding the sale. While the documents filed did not include a specific price tag for the sale, Optum officials did not provide immediate comment on the matter. This potential acquisition of the physician network by Optum Care could potentially provide a financial boost for Steward Health Care as it navigates its ongoing financial challenges.

The doctors group known as Stewardship Health is being proposed for sale. The sale is expected to provide additional revenue for Steward as it continues to struggle financially. The move comes after Steward fell behind in payments to various parties last year and is now looking for ways to stabilize its finances. The sale of the physician network is just one piece of a larger plan by Steward to strengthen its national system of 33 hospitals and ensure long-term success.

By Aiden Nguyen

As a content writer at newscholarly.com, I delve into the realms of storytelling with the power of words. With a knack for research and a passion for crafting compelling narratives, I strive to bring forth engaging and informative articles for our readers. From decoding complex concepts to unraveling current events, I aim to captivate and educate through the art of writing. Join me on this journey as we explore the ever-evolving landscape of news and knowledge together.

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