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Steward Health Care Faces Financial Crisis: Sells Physician Network to UnitedHealth’s Optum Care Unit

UnitedHealth acquires doctor network from Steward Health Care

Steward Health Care Faces Financial Crisis: Sells Physician Network to UnitedHealth’s Optum Care Unit

Steward Health Care, a hospital operator that operates eight hospitals in Massachusetts, is facing a financial crisis. In an attempt to stabilize its finances, the company has made the decision to sell its nationwide physician network to UnitedHealth’s Optum Care unit. This move is part of Steward’s overall plan to strengthen its national system of 33 hospitals, especially after falling behind in payments to various parties last year.

On Tuesday, a subsidiary of Optum called Collaborative Care Holdings, LLC, officially filed notice with the state’s Health Policy Commission regarding the sale. While the documents filed did not include a specific price tag for the sale, Optum officials did not provide immediate comment on the matter. If this potential acquisition of the physician network by Optum Care goes through, it could potentially provide a financial boost for Steward Health Care as it navigates its ongoing financial challenges.

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