Steward is the hospital management company owned by Private Equity Firm Cerberus Capital Management which purchased several Catholic hospitals in Massachusetts and now it appears they are looking at 2 more community hospitals to add to their ownership and 11 urgent care centers. As this has moved along they created their own insurance plan too. The plan, administered through Tenet Health Plans, is called Steward Community Choice.
Steward Healthcare Outlines New Insurance Plan Called the Community Choice Plan Limiting Most Care to Their Owned Hospitals
Steward purchased on other hospital in the area in Rhode Island, Landmark but the deal is not complete yet and conditions are still being negotiated. Landmark didn’t have a ton of options.
Blue Cross Sues Financially Stressed Landmark Hospital in Rhode Island-Court To Determine New Owner in April
Pushing forward with its plans to expand out of state, Steward Health Care System LLC, which has amassed a chain of 10 community hospitals in Massachusetts, signed a letter of intent to buy financially struggling Mercy Health System of Maine from a Catholic hospital group.
The letter, which does not spell out financial terms, gives Boston-based Steward exclusive rights to negotiate with Mercy’s owner, Catholic Hospital East, a Pennsylvania-based network of 35 hospitals and other health care facilities operating in 11 states from Maine to Florida.
Toward that end, the parties would sign an agreement committing Steward to maintaining the Catholic church’s ethical and religious health care directives, including a prohibition on abortions. A similar pact was signed with Catholic authorities in Massachusetts when Steward acquired the six Caritas hospitals.