Steward Health Care Faces Financial Crisis, Sells National Physician Network to Optum Care for Possible Boost

UnitedHealth acquires doctor network from Steward Health Care

Steward Health Care, a troubled hospital operator with eight Massachusetts hospitals, is currently facing a financial crisis that has impacted its finances. 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.

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