A Michigan-based, for-profit health care company that specializes in distressed hospitals made a bid to buy all of Steward’s Massachusetts hospitals out of bankruptcy, but the bid was rejected as not viable, WBUR has learned.
A Michigan-based health care company that specializes in distressed hospitals made a bid to buy all of Steward’s Massachusetts hospitals out of bankruptcy, but the bid was rejected as not viable, WBUR has learned.
Steward's critics, including the Massachusetts Nurses Association, have argued the company should give greater consideration to all bidders to avoidCarney Hospital in Dorchester. Bawahab said Insight has “extensive experience assuming leadership of distressed, underperforming healthcare organizations across the country and turning them into sustainable operations that meet the needs of the communities we serve.” The company operates or manages hospitals in Michigan, Illinois, New Jersey and other states.“Carney and Nashoba Valley did not receive qualified bids.
The Healey administration is developing a plan to prop up the new operators of the Steward hospitals with streams of public funding. Administration officials said the recently approved state budget provides $35 million a year for three years to help the new hospital operators. Combined with matching federal funds, the new operators will receive $80 million a year for the next three years.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
'Qualified bids' sent in for all Mass. Steward hospitals, Healey says'We've received qualified bids. We are evaluating those now, and it's currently with the parties right now in New York,' Gov. Maura Healey told reporters Tuesday. '... My focus remains on protecting jobs, protecting patients and protecting the stability of the health market here in Massachusetts.
Read more »
Healey doubles down on calls for Steward Health to leave Mass.The company is also facing pressure from federal officials. U.S. Rep. Stephen Lynch said last week that Congress could issue subpoenas to compel Steward executives to share financial information.
Read more »
Michigan State arch-rival Michigan expected to be hit with NOA from NCAAMichigan State's arch-rival, Michigan, will reportedly receive a Notice of Allegations {NOA} from the NCAA this week.
Read more »
Recruiting violations by Michigan State's arch-rival Michigan revealedThe recruiting violations surrounding Michigan State's arch-rival Michigan were finally made public.
Read more »
Sherrone Moore breaks down the Michigan football O-line battles, talks depthThe Michigan head coach talked about the new-look Michigan offensive line.
Read more »
Michigan State's Jonathan Smith on first game against MichiganMichigan State coach Jonathan Smith is joining yet another in-state rivalry.
Read more »