Washington (March 13, 2024) - Senator Edward J. Markey (D-Mass.), chair of the Senate Health, Education, Labor, and Pensions (HELP) Subcommittee on Primary Health and Retirement Security, invited Steward Health Care Chairman and Chief Executive Officer Ralph de la Torre to attend and testify at the April 3, 2024 field hearing that will examine the impact of for-profit companies on health care access.
Steward Health Care—which operates nine health care facilities across Massachusetts—is currently facing significant financial insecurity as a result of previously accumulated debt. Steward Health Care was previously owned by Cerberus Capital Management, a private equity company that generated $800 million in profit from Steward. Steward’s inability to pay its debt has resulted in financial instability among several of the hospitals it owns, creating a risk to patients and health providers.
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