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We believe that future healthcare
management must completely integrate
long-term clinical needs with investments.

As physicians first, we will focus on creating
structures and timelines that meet the long-
term needs of our communities and the
short-term needs of our patients.”
Dr. Ralph de la Torre
CEO, Steward Health Care
Physicians acquire Steward Health
from private equity fi rm
By Shelby Livingston

group of physicians Physician medical group that future healthcare
has acquired a acquisitions accelerating management must
A controlling stake Acquisitions by private completely integrate long-
in Steward Health Care, a equity groups increased 136 term clinical needs with
Dallas-based health system 131% from 2013 to 2016 investments. As physicians

operating hospitals in first, we will focus on
nine states. creating structures and
Steward last week 88 timelines that meet the
said that it structured a 72 long-term needs of our
recapitalization transaction 59 communities and the short-
in which private equity term needs of our patients,”
firm Cerberus Capital de la Torre said in a news

Management transferred release.
its controlling stake to a Cerberus, which has about
management group of 2013 2014 2015 2016 $42 billion in assets under
Steward physicians led by Percentage of management, has owned
Steward CEO Dr. Ralph de total acquisitions Steward since 2010. In
la Torre. in the South March, Steward announced

The physicians will Note: Some it would close a 200-bed
control 90% of the company, acquisitions 43.9% hospital in Pennsylvania
spanned more
while Medical Properties than one region or 184 amid the pandemic.
Trust will maintain its and were counted Pennsylvania Gov. Tom Wolf
more than once.
10% stake. The deal gives agreed to provide $8 million

Steward the fi nancial in emergency funding to
Source: “Private Equity Acquisitions of
strength to navigate the Physician Medical Groups Across Specialties, the hospital in exchange for
COVID-19 pandemic, the 2013-2016,” JAMA Feb. 18, 2020 Steward keeping the hospital
company said. open until the end of April.

“The COVID-19 global Steward operates 35
pandemic has exposed serious defi ciencies hospitals and employs more than 40,000

in the world’s healthcare systems, with a healthcare professionals. The health system’s
disproportionate impact on underserved employed medical groups see 6 million
communities and populations. We believe patients annually. 

4 Modern Healthcare | June 8, 2020