BOSTON — (AP) — Steward Health Care said it has reached an agreement to sell its nationwide physicians network to a private equity firm.
The deal comes as Steward is scheduled to go before a bankruptcy court judge Friday on its plan to sell six hospitals in Massachusetts. The Dallas-based company announced its bankruptcy May 6.
In a statement released Monday, Steward said it has entered into a “definitive agreement” to sell its Stewardship Health business — which includes about 5,000 physicians in Massachusetts and nine other states treating about 400,000 patients — to Rural Healthcare Group, an affiliate of Kinderhook Industries LLC, a private equity firm.
Steward said the deal, which is subject to regulators’ review, will result in strong patient and physician outcomes. “Stewardship Health will continue to serve its loyal patient following in the commonwealth of Massachusetts under new ownership,” the company said in a statement Monday.
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