In a recent discussion about health care access, affordability, and staffing in southeastern Massachusetts, Health and Human Services Secretary Kate Walsh highlighted the challenges posed by the property and leasing situation at Steward Health Care hospitals. The administration is struggling to find a buyer due to the complex financial structure in place at Steward.
Walsh, who has a background in leadership roles at various health care organizations, emphasized the need for creative solutions to navigate the uncertainties surrounding Steward’s future. She emphasized the importance of ensuring that patients continue to receive care, families are supported, and opportunities for health care system reform are not overlooked in eastern Massachusetts. Despite the challenges, Walsh expressed confidence in the team’s ability to find innovative ways to address the complex situation at Steward Health Care.
The hospitals were sold years ago, and now the system leases them back, making potential acquirers hesitant to get involved. This presents a significant obstacle as the administration works to address the financial crisis at Steward and its impact on other providers. The unique financing arrangement at Steward presents a challenge for both potential buyers and acquirers who may be hesitant to take on such a complex financial situation. The system is currently facing financial difficulties due to this arrangement.
