Financially embattled hospital operator Steward Health Care has struck a deal to sell its nationwide physician network to Optum, a subsidiary of UnitedHealth Group, as it works to stabilize its finances.
Democratic U.S. Sen. Edward Markey called on Wednesday, March 27, 2024, for greater oversight of a deal that financially embattled hospital operator Steward Health Care has struck to sell its nationwide physician network to Optum, a subsidiary of UnitedHealth Group, at a press conference in his office at the John F. Kennedy Federal Building in Boston. Markey said Optum must show it can protect health care access by controlling costs and putting patients and providers first.
The documents filed with the state did not include a cost for the transaction. Under the deal, Optum would aquire a Steward affiliate that includes the company’s primary care doctors and other clinicians in nine states. “This is a significant proposed change involving two large medical providers, both in Massachusetts and nationally, with important implications for the delivery and cost of health care across Massachusetts,” Seltz said in a statement.The commission's review of the transaction shouldn't delay state and federal antitrust authorities from doing their own review to protect patient access and affordability, Democratic Massachusetts House Speaker Ronald Mariano said.
Democratic U.S. Sen. Edward Markey said for-profit companies that participate in the health care system must understand that their decisions have direct impacts on patients and communities. U.S. Sen. Elizabeth Warren, a fellow Massachusetts Democrat, said her top priority is making sure Steward’s hospitals in Massachusetts stay open.
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