Bankrupt Steward Health Finds Buyers For Two Hospitals Amid Senate Probe

Bankrupt system to sell facilities in Louisiana and Arkansas
Deals announced after Senate asked Steward CEO to testify

US lawmakers want Steward Health founder and CEO Ralph de la Torre to face questioning over the bankrupt company’s financial arrangements. Photographer: Michael Nagle/Bloomberg

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By Jonathan Randles

July 22, 2024 at 3:58 PM UTC

This article is for subscribers only.

Bankrupt Steward Health said it found buyers for two of its hospitals in Arkansas and Louisiana, as the nation’s largest for-profit health system braces for a bipartisan Senate investigation into its financial woes.

Steward is selling the Wadley Regional Medical Center in Hope, Arkansas, to Pafford Health Systems Inc. and Glenwood Regional Medical Center in West Monroe, Louisiana, to an affiliate of American Healthcare Systems. Pafford and AHS have agreed to pay $200,000 and $500,000 for the hospitals, respectively, and assume certain liabilities, according to court documents filed on Sunday.