Steward Health Care System

Steward Health Care is the largest physician-owned, private, for-profit health care network in the U.S. — attending to 2.2 million people during more than twelve million physician and hospital visits annually.[3][5] Headquartered in Dallas, Steward’s integrated health care model employs 40,000 people at thirty-five hospitals and hundreds of urgent care, skilled nursing, and primary and specialty care medical practice locations across eleven states and the country of Malta.[6] Steward Health Care is led by CEO Ralph de la Torre, a Cuban-American physician, engineer and cardiac surgeon.[7]

Steward Health Care

Industry	Healthcare
Predecessor	Steward Health Care System
Founded	2010
Founder	Ralph de la Torre[1]
Headquarters	Dallas, Texas[2] , US
Area served	Massachusetts, Arizona, Arkansas, Colorado, Florida, Louisiana, Ohio, Pennsylvania, Texas, Utah and Malta
Key people	Ralph de la Torre, CEO/President/Founder
Revenue	~$8 Billion
Number of employees	>40,000
Website	www.steward.org
Footnotes / references [3][4]

History

Steward Health Care was started by Ralph de la Torre, when Caritas Christi Health Care system was sold to the private equity firm Cerberus Capital Management in 2010; after the transaction, Caritas was converted to a for-profit company and renamed Steward Health Care.[8]

In June 2020, Steward became the nation’s largest physician-owned health care system, after Steward physicians acquired a 90 percent controlling interest in the company.[5]

The company covers approximately three million full-risk patients through its integrated care network, hospitals, managed care and health insurance services in Arizona, Arkansas, Florida, Louisiana, Massachusetts, New Hampshire, New Jersey, Ohio, Pennsylvania, Texas, and Utah, as well as in Malta.[9]

In September 2016, The Boston Globe reported Steward Health Care System had made a deal to expand its operations. Steward lined up $1.25 billion from a real estate investment firm that will help the Boston-based company finance a national expansion, pay off debt, and return money to the private equity firm that bought it in 2010. Steward said Medical Properties Trust would buy all of its hospital properties for $1.2 billion, lease the properties back to Steward, and pay $50 million for a five percent equity stake in the company. The deal became final in September, 2017.[10]

In February 2017, Steward Health Care acquired eight hospitals from Community Health Systems, including three hospitals in Ohio, two in Pennsylvania and three in Florida.[11]

In May 2017, Steward announced a proposed merger with Iasis Healthcare, headquartered in Franklin, Tennessee, making Steward the largest private for-profit hospital operator the largest in the United States. The merger made Steward the parent organization to thirty six hospitals across ten states, with revenues of nearly $8 billion.[12]

In October 2017, Steward completed its acquisition of eighteen Iasis Healthcare hospitals in a deal that was reportedly for $2 billion.[3]

In February 2018, Steward announced that its top management will move to Dallas, Texas from Boston.[4]

Business model

Steward intended to become a low-price leader in the provision of high quality care.[7] Consistent with this model, the System had taken steps to reduce the direction of surgical patients toward teaching hospitals in the Boston area.[7] The System has also worked with payers to negotiate patient group-oriented budget pricing.[7]

Steward comprises Steward Medical Group and Steward Health Care Network, its network of primary care and specialty providers.[13]

Additional Steward services include Steward Health Choice, a managed risk platform which covers lives in Arizona, Massachusetts and Utah.[14]

Hospitals

Hospital	Location	Bed count	Emergency Department	Founded	Notes
St. Elizabeth's Medical Center	Brighton, MA	252	Yes	1868	Founded by Third Order of St. Francis. Steward's tertiary care center.
Carney Hospital	Dorchester, MA	150	Yes	1863	Founded by Daughters of Charity of Saint Vincent de Paul and Andrew Carney. First Catholic hospital in New England.
Good Samaritan Medical Center	Brockton, MA	267	Yes	1993	Merger of Cardinal Cushing General Hospital and Goddard Memorial Hospital
Holy Family Hospital	Methuen, MA	261	Yes	1950	Formerly Bon Secours Hospital, founded by Sisters of Bon Secours.
Norwood Hospital	Norwood, MA	264	Yes	1902	Formerly Willett Cottage Hospital
Saint Anne's Hospital	Fall River, MA	160	Yes	1906	Founded by Dominican Sisters of the Presentation
Holy Family Hospital at Haverhill	Haverhill, MA	122	Yes	1887	Formerly Merrimack Valley Hospital and Hale Hospital
Nashoba Valley Medical Center	Ayer, MA	57	Yes	1964	Formerly Beth Israel Deaconess-Nashoba
Quincy Medical Center	Quincy, MA	196[15]	Yes	1890	Main hospital closed. ER is open and used as a satellite facility of Carney Hospital
Morton Hospital and Medical Center	Taunton, MA	152	Yes	1888	Formerly Morton Hospital & Medical Center
New England Sinai Hospital	Stoughton, MA	212	No		NESH is a long-term post-acute rehab hospital.
Davis Hospital and Medical Center	Layton, UT	220	Yes	1976
Jordan Valley Medical Center	West Jordan, UT	172	Yes	1983
Jordan Valley Medical Center- West Valley	West Valley City, UT	102	Yes	1963	formerly Pioneer Valley Hospital
Mountain Point Medical Center	Lehi, UT	40	Yes	2015	Opened in 2015 as a newly constructed campus of Jordan Valley Medical Center
Salt Lake Regional Medical Center	Salt Lake City, UT	158	Yes	1883	Formerly Holy Cross Hospital founded by Sisters of Holy Cross
Mountain Vista Medical Center	Mesa, AZ	178	Yes		Operates as a campus of St. Luke's Medical Center
St. Luke's Medical Center	Phoenix, AZ	200	Yes
St. Luke's Behavioral Health Center	Phoenix, AZ	124	No
Tempe St. Luke's Hospital	Tempe, AZ	87	Yes		Operates as a campus of St. Luke's Medical Center
Odessa Regional Medical Center	Odessa, TX	225	Yes	1975
Southwest General Hospital	San Antonio, TX	327	Yes
St. Joseph Medical Center	Houston, TX	790	Yes	1887
The Medical Center of Southeast Texas	Port Arthur, TX	199	Yes
The Medical Center of Southeast Texas—Victory Campus	Beaumont, TX	17	Yes	2005
Wadley Regional Medical Center	Texarkana, TX	370	Yes	1900
Glenwood Regional Medical Center	West Monroe, LA	278	Yes	1962
Wadley Regional Medical Center at Hope	Hope, AR	79	Yes
Easton Hospital	Easton, PA	196[16]	Yes	1890	Sold to St.Luke's University Health Network (SLUHN) in Allentown/Bethlehem, PA in July 1, 2020
Sharon Regional Medical Center	Sharon, PA	220[17]	Yes
Melbourne Regional Medical Center	Melbourne, FL	119[18]	Yes	2002
Rockledge Regional Medical Center	Rockledge, FL	298[19]	Yes	1941
Sebastian River Medical Center	Sebastian, FL	150[20]	Yes	1974[21]
Trumbull Regional Medical Center	Warren, OH	346[22]	Yes
Hillside Rehabilitation Hospital	Warren, OH	69[23]	No
Gozo General Hospital[24]	Victoria, Malta	270[25]	Yes
Karin Grech Hospital[24]	Pieta, Malta		No

See also

Partners HealthCare

References

1. "Ralph de la Torre M.D." Bloomberg L.P. February 21, 2019.
2. Jessica Bartlett (August 28, 2018). "Steward Health Care officially moves HQ to Dallas". Boston Business Journal.
3. Kacik, Alex (2017-10-02). "Steward closes $2B acquisition of Iasis' 18 hospitals". Modern Healthcare. Retrieved 2017-10-03.
4. McCluskey, Priyanka Dayal (2018-02-23). "Steward Health Care to move top executives to Dallas". The Boston Globe. Retrieved 2018-02-24.
5. "Physicians acquire Steward Health Care from private equity firm". Modern Healthcare. June 2, 2020.
6. "Steward Health Care". Steward Health Care. Retrieved September 25, 2012.
7. Liz Kowalczyk (September 17, 2012), "Steward hires away top surgeon from Mass. General", The Boston Globe, Business section, bostonglobe.com, retrieved September 25, 2012
8. Priyanka Dayal McCluskey (September 26, 2016). "Steward gets $1.25b to fund expansion, repay Cerberus". The Boston Globe.
9. "First Choice Healthcare Solutions Announces Strategic Partnership and Equity Investment with Steward Health Care". GlobeNewswire. February 7, 2018.
10. Jessica Bartlett (September 29, 2017). "Steward closes deal to acquire 18 hospitals in six states". Boston Business Journal.
11. Melanie Evans (September 29, 2017). "Community Health Sells Eight Hospitals to Steward Health Care". The Wall Street Journal.
12. Dayal McCluskey, Priyanka (2017-05-19). "Steward Health Care merges with Tenn. hospital system". The Boston Globe. Retrieved 2017-05-19.
13. Beth Jones Sanborn (December 11, 2018). "Steward Health Care Network workflow automation yields 161% increase in care coordination". Healthcare Finance.
14. "Steward Health Completes Acquisition Of IASIS Healthcare". PR Newswire. September 29, 2017.
15. Encarnacao, Jack. "Births to return to Quincy Medical Center". The Patriot Ledger, Quincy, MA.
16. "Learn More About Easton Hospital | Easton PA". www.easton-hospital.org. Retrieved 5 September 2019.
17. "Learn About Sharon Regional Medical Center | Sharon PA". www.sharonregionalmedical.org. Retrieved 5 September 2019.
18. "Melbourne Regional Medical Center | A Steward Hospital | Melbourne FL". www.melbourneregional.org. Retrieved 5 September 2019.
19. "Rockledge Regional Medical Center | A Steward Hospital | Rockledge FL". www.rockledgeregional.org. Retrieved 5 September 2019.
20. "Sebastian River Medical Center | A Steward Hospital | Sebastian FL". www.sebastianrivermedical.org. Retrieved 5 September 2019.
21. "Learn About Sebastian River Medical Center | Sebastian FL". www.sebastianrivermedical.org. Retrieved 5 September 2019.
22. "Learn About Trumbull Regional Medical Center | Warren OH". www.trumbullregional.org. Retrieved 5 September 2019.
23. "Learn About Hillside Rehabilitation Hospital | Warren OH". www.hillsiderehabhospital.org. Retrieved 5 September 2019.
24. "International | Steward Health Care". www.steward.org. Retrieved 5 September 2019.
25. "Gozo General Hospital: Steward Health Care Malta". www.stewardmalta.org. Retrieved 5 September 2019.

Further reading

Weisman, Robert (August 12, 2011). "Unions, hospitals face off". Boston Globe.