BOSTON – Bankrupt Steward Health Care is selling its doctors group, Stewardship Health, to Rural Healthcare Group, which is owned by a private equity firm.
In the announcement , Steward did not reveal the amount of the sale, which it called a “definitive agreement.”
The sale is subject to bankruptcy court and regulatory approval before becoming official.
“Stewardship Health will continue to serve its loyal patient following in the Commonwealth of Massachusetts under new ownership,” the company said in a statement.
Earlier this year, Steward said it was selling the physician network to Optum Care , a subsidiary of UnitedHealth Group. According to the Boston Globe , that deal was never finalized.
Why is Steward Health Care going out of business?
Steward Health Care filed for bankruptcy back in May and then put all of its U.S. hospitals up for sale .
Steward owns nine hospitals in Massachusetts. Two of them, Carney Hospital in Dorchester and Nashoba Valley Medical Center in Ayer, will close at the end of this month, despite pushback from the community and lawmakers.