Steward Health Care, the largest physician-led and minority-owned integrated health care system in the U.S., has announced plans to sell several hospitals in Massachusetts.

As part of these agreements, Lifespan will acquire Morton Hospital and Saint Anne’s Hospital, while Lawrence General Hospital will take ownership of Holy Family Hospital in Methuen and Haverhill.

Additionally, an agreement is being finalized for Boston Medical Center to acquire Good Samaritan Medical Center and St. Elizabeth’s Medical Center.

These transactions, pending customary approvals including those from the Bankruptcy Court, are expected to enhance patient care and outcomes across the state.

The chosen acquirers, Lifespan, Lawrence General Hospital, and Boston Medical Center, have established records of effectively serving communities in the Northeast.

These sales are positioned to ensure the continuation of essential healthcare services in Massachusetts as Steward Health Care proceeds with its Chapter 11 restructuring.

Steward Health Care is receiving legal and financial advisory support from Weil, Gotshal & Manges LLP, McDermott Will & Emery LLP, Cain Brothers (a division of KeyBanc Capital Markets Inc.), Leerink Partners LLC, and AlixPartners, LLP.




Source: businesswire.com

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