Steward Health Care, the largest privately owned, for-profit health system in the U.S., announced after filing for bankruptcy this week that it will sell all of its 31 hospitals in auction sales.
The Dallas-based company said during a hearing at the U.S. Bankruptcy Court for the Southern District of Texas that its hospitals, located in eight states, will remain operating during the bankruptcy process.
The company's bankruptcy filing lists 30 creditors who are owed a total of more than $500M, including the federal government, which is owned more than $32M in reimbursements for insurance overpayments.
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