Steward Health Care Sells Physician Group to Optum Care: Concerns Raised by Senator Markey for Massachusetts Healthcare System

As reported by Sen. Edward J. Markey, Steward Health Care in Massachusetts is selling its physician group to Optum Care. The company, which operates nine health care facilities in Massachusetts, is facing financial instability due to accumulated debt. Previously owned by Cerberus Capital Management, Steward made $800 million in profit from the sale.

Senator Markey expressed concerns about Steward’s financial situation and its impact on hospitals in Massachusetts and beyond. He emphasized the importance of moving away from Steward’s financial insecurity for the state’s healthcare system. Markey hopes that Optum Care will prioritize controlling costs and prioritizing patients and providers, as it takes over the physician group.

The senator also criticized the healthcare system for focusing more on profit than patient outcomes. He believes that healthcare reform is necessary to address these issues. As chair of the Senate HELP Subcommittee on Primary Health and Retirement Security, Markey has invited Steward CEO Dr. Ralph de la Torre to testify at a congressional hearing in Boston on April 3.