entertainment

Steward Health Care, which once trumpeted its community hospital system as a low-cost alternative to Boston’s medical goliaths before expanding nationally and falling into a deep financial crisis, filed for bankruptcy protection early Monday morning.

Under Chapter 11 of the US bankruptcy code, Steward will become a “debtor in possession,” continuing to operate its 32 hospitals in eight states while it seeks to restructure its debt under court supervision. Steward has eight hospitals in eastern Massachusetts, though its Norwood Hospital remains closed following a flood.

advertisement

“Steward does not expect any interruptions in its day-to-day operations, which will continue in the ordinary course throughout the [bankruptcy] process,” it said in a news release posted at 3:27 a.m. “Steward’s hospitals, medical centers and physician’s offices are open and continuing to serve patients and the broader community and our commitment to our employees will not change.”

STAT+ Exclusive Story

Already have an account? Log in

This article is exclusive to STAT+ subscribers

Unlock this article — plus in-depth analysis, newsletters, premium events, and networking platform access.

Already have an account? Log in

Already have an account? Log in

Monthly

$39

Totals $468 per year

Totals $468 per year

Starter

$30

for 3 months, then $39/month

Then $39/month

Annual

$399

Save 15%

Save 15%

11+ Users

Custom

Savings start at 25%!

Savings start at 25%!

2-10 Users

$300

Annually per user

$300 Annually per user

Get unlimited access to award-winning journalism and exclusive events.