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Schrock said Steward has real value, despite carrying a $9 billion debt load. “It never really stabilized the company,” Schrock said. Steward is putting all of its hospitals up for sale. It intends to hold auctions on June 28 for its hospitals outside of Florida and July 30 for its nine hospitals in Florida. Schrock said those timelines were negotiated as part of the new $75 million bankruptcy loan, and that Steward would seek more time to sell its hospitals if necessary.
Persons: Steward, Ray Schrock, Chris Lopez, , ” Schrock, “ There’s, Schrock, Lopez, Organizations: Health Care, Stewardship Health, Care, Medical Properties Trust Locations: Houston, Massachusetts, Florida
BOSTON (AP) — 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. Maura Healey has said state monitors are keeping eye on the nine health care facilities operated by Steward Health Care in Massachusetts, including hospitals in some of the state’s poorer communities. Emails to Steward Health Care and Optum seeking comment were not immediately returned. 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. “After years of gross profiteering and mismanagement, Steward’s latest plan raises more serious questions about the future of the Massachusetts health care system," Warren said in a written statement.
Persons: , Maura Healey, Optum, David Seltz, , ” Seltz, Ronald Mariano, Democratic U.S . Sen, Edward Markey, ” Markey, , Sen, Elizabeth Warren, Steward’s, Warren, Steward Organizations: BOSTON, Health Care, UnitedHealth, Steward Health Care, Department of Public Health, Steward, Democratic Massachusetts, Democratic U.S ., Health, Education, Labor, Primary Health Locations: Massachusetts, The Dallas, Boston, U.S
The executive director for enforcement and market oversight at the U.K.’s Financial Conduct Authority, which also supervises compliance by U.K. cryptocurrency firms with anti-money-laundering laws, said he would step down next spring, the agency said Tuesday. Steward served as the executive director of enforcement at the Securities & Futures Commission of Hong Kong. He previously served as deputy executive director of enforcement for the Australian Securities and Investments Commission. Newsletter Sign-up WSJ | Risk and Compliance Journal Our Morning Risk Report features insights and news on governance, risk and compliance. PREVIEW Since January 2021, the FCA has served as the anti-money-laundering (AML) compliance supervisor for cryptocurrency firms in the U.K.
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