BOSTON — Bankrupt Steward Health Care announced Thursday that it has entered into definitive agreements to sell certain Massachusetts-based hospitals.
Terms of the asset agreements indicate that Rhode Island-based Lifespan will purchase Morton Hospital in Taunton and Saint Anne’s Hospital in Fall River, while Lawrence General Hospital will purchase Holy Family Hospital locations in Methuen and Haverhill, Steward’s Chief Restructuring Officer John Castellano said in a news release.
An agreement to sell Steward’s Good Samaritan Medical Center in Brockton and St. Elizabeth’s Medical Center in Boston to Boston Medical Center is in the process of being finalized, according to Castellano.
“As Steward continues to progress through the ongoing Chapter 11 proceedings, we are thrilled to have identified such qualified acquirers for hospitals in the Commonwealth that are critical to the health of underserved populations,” Castellano said in a statement. “In Lifespan, Lawrence General Hospital, and Boston Medical Center, we have found partners with established track records of treating communities in the northeast United States. Through these transactions, the people of the Commonwealth will continue to receive critically needed care while Steward continues to focus on its ongoing Chapter 11 process.”
In a statement, Gov. Maura Healey welcomed the arrival of Lifespan and the removal of Steward from Massachusetts.
“This agreement accomplishes our goal of maintaining and protecting access to care and jobs in Southeastern Massachusetts and the Merrimack Valley while removing Steward Health Care from Massachusetts once and for all,” Healey said. “I am grateful to Secretary Kate Walsh and Commissioner Robbie Goldstein for their and their team’s incredible leadership and work navigating us through this challenging time. I welcome Lifespan, its leadership, and its team to Southeastern Massachusetts and appreciate Lawrence General Hospital for stepping up to preserve care in the Merrimack Valley. All of us will work hard to bring this over the finish line.”
Healey said the state is continuing to support the communities impacted by the upcoming closures of Steward’s Nashoba Valley and Carney hospitals.
Formed in 1994, Lifespan is a not-for-profit health system based in Providence. It’s comprised of the three teaching hospitals of The Warren Alpert Medical School of Brown University: Rhode Island Hospital and its Hasbro Children’s Hospital, The Miriam Hospital, and Bradley Hospital.
Lifespan is also comprised of Newport Hospital, Gateway Healthcare, Lifespan Physician Group, and Coastal Medical.
The Dallas-based healthcare system currently operates more than 30 hospitals across Arizona, Ohio, Pennsylvania, Arkansas, Florida, Louisiana, Texas, and Massachusetts.
This is a developing story. Check back for updates as more information becomes available.
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