NEW YORK, May 6 (Reuters) - Steward Health, which
operates 30 hospitals in nine U.S. states, filed for Chapter 11
bankruptcy in Texas on Monday, aiming to secure a new loan from
its landlord Medical Properties Trust ( MPW ).
The privately-owned hospital chain said it would continue
serving patients as normal during its bankruptcy.
Steward has sought short-term financing and to sell its
physician group Stewardship Health, but the disposal has not
come together as quickly as planned, forcing it to seek up to
$225 million in financing from Medical Properties Trust ( MPW ).
"Steward was forced to seek alternative methods of bridging
its operations," Steward CEO Ralph de la Torre said on Monday.
"With the additional financing in this process, we are
confident that we will keep hospitals open, supplied, and
operating so that our care of our patients and our employees is
maintained," de la Torre added in a statement.
Steward recently closed a hospital in Massachusetts, where
state officials and politicians have said it did not disclose
the extend of its financial troubles until they were deep enough
to imperil medical care.
Massachusetts Health and Human Services Secretary Kate Walsh
said on Monday that the state has been preparing for a possible
bankruptcy and would work to "support an orderly transfer of
ownership that protects access to care, preserves jobs and
stabilizes our health care system".