Steward Health Care to Participate in Hearing at Massachusetts State House on Monday – NBC Boston

Private Equity Ownership at Steward Health Care: A Look at the Financial Crisis and the Need for Change

Amid the ongoing financial crisis at Steward Health Care, Massachusetts lawmakers are holding a hearing to examine private equity ownership in the healthcare sector. The crisis has raised concerns about the lack of transparency from companies like Steward, which owns nine hospitals in the state.

Governor Maura Healey has placed blame on the company’s management for this situation. Lawmakers heard from a government watchdog warning about the dangers of industry consolidation, for-profit ownership, and private equity investment in healthcare during the hearing.

Health Policy Commission Executive Director David Seltz presented data showing a significant increase in the involvement of private equity in healthcare transactions in Massachusetts over recent years. The percentage of transactions involving private equity interests has more than doubled, raising concerns about the future of healthcare in the state. Seltz emphasized the need for urgent action to address these trends before they escalate further.

The data presented by the Health Policy Commission underscores the growing concerns about the impact of private equity ownership in the healthcare industry. The need for transparency and accountability in healthcare practices is becoming increasingly urgent as the industry continues to evolve.


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