Steward Health Care to Sell Nationwide Physician Network in Effort to Strengthen Financials, Boost Financial Position.

UnitedHealth acquires doctor network from Steward Health Care

Steward Health Care, a troubled hospital operator in Massachusetts, is facing a financial crisis that has affected its eight hospitals. In an effort to stabilize its finances, Steward has made the decision to sell its nationwide physician network to UnitedHealth’s Optum Care unit. This move is part of Steward’s overall plan to strengthen its national system of 33 hospitals, especially after falling behind in payments to various parties last year.

On Tuesday, a subsidiary of Optum called Collaborative Care Holdings, LLC, officially filed notice with the state’s Health Policy Commission regarding the sale. While the documents filed did not include a specific price tag for the sale, Optum officials did not provide immediate comment on the matter. However, this potential acquisition of the physician network by Optum Care could potentially provide a financial boost for Steward Health Care as it navigates its ongoing financial challenges.

The doctors group known as Stewardship Health is being proposed for sale. This move comes after Steward fell behind in payments to various parties last year and is part of their efforts to improve their financial position. The sale of Stewardship Health will allow them to focus on their core business and potentially improve their bottom line.

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