Home Industries Health Services Lifespan to acquire Morton, St. Anne’s hospitals from Steward Health Care

Lifespan to acquire Morton, St. Anne’s hospitals from Steward Health Care

By

Katie Castellani

-

08/16/2024

RI-Hospital-1-696x385 — LIFESPAN CORP. is on track to take over two hospitals in Massachusetts owned by Steward Health Care./Courtesy of Lifespan.

PROVIDENCE – Lifespan Corp. is on track to take over two hospitals in southeastern Massachusetts owned by cash-strapped Steward Health Care. Massachusetts Gov. Maura T. Healey announced Friday operations of Morton and St. Anne’s Hospitals in Taunton and Fall River would be transferred to Lifespan. The deal, which still needs to be finalized, also includes

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PROVIDENCE – Lifespan Corp. is on track to take over two hospitals in southeastern Massachusetts owned by cash-strapped Steward Health Care. Massachusetts Gov. Maura T. Healey announced Friday operations of Morton and St. Anne’s Hospitals in Taunton and Fall River would be transferred to Lifespan. The deal, which still needs to be finalized, also includes plans to transition three other Steward hospitals to new ownership. “Today, we are taking steps to save and keep operating the five remaining Steward Hospitals, protecting access to care in those communities and preserving the jobs of the hard-working women and men who work at those hospitals,” Healey said. “Our team under Secretary Kate Walsh worked day in and day out to secure new, responsible, qualified operators who will protect and improve care for their communities. We’re grateful for the close collaboration of the Legislature to develop a fiscally responsible financing plan to support these transitions.” Jessica Wharton, a spokesperson for Lifespan, said the health system is still “...finalizing the terms of a bid” to purchase the hospitals. Once the bid is finalized and designated by the current owners as the best bid, will be filed with the bankruptcy court. The terms of Lifespan’s purchase of the hospitals are subject to the court’s approval. Also, the transaction will require state and federal regulatory approvals and a satisfaction of sale contingencies. Steward Health Care filed for bankruptcy protection on May 6, but pledged to maintain the eight hospitals it operates in Massachusetts. The Dallas-based company operates more than 30 hospitals nationwide, including Massachusetts facilities: St. Elizabeth’s in Brighton, Carney Hospital in Dorchester, Good Samaritan Medical Center in Brockton, Holy Family Hospital in Methuen and Haverhill Hospital in Haverhill, Morton Hospital in Taunton, Nashoba Valley Medical Center in Ayer, Norwood Hospital, and St. Anne’s in Fall River. The company filed for protection in the U.S. Bankruptcy Court for the Southern District of Texas. On July 26, Steward announced it was closing Carney Hospital in the Dorchester neighborhood of Boston and Nashoba Valley Medical Center in Ayer, a town about 45 miles west of Boston. Lifespan, which is changing its name to Brown University Health, owns Rhode Island Hospital, Miriam Hospital, Newport Hospital and Bradley Hospital. The deals will not affect the fate of Carney or Nashoba Valley Hospitals. Healey says her administration is focusing on transitioning care and supporting workers and helping them find new jobs. Healey said her administration will also take control of Saint Elizabeth's through eminent domain to help keep the hospital open and help transition “When it comes to finalizing a deal for Saint Elizabeth’s, MPT, Macquarie and Apollo have repeatedly chosen to put their own interests above the health and wellbeing of the people of Massachusetts,” said Healey. “Enough is enough. Our administration is going to seize control of Saint Elizabeth’s through eminent domain so that we can facilitate a transition to a new owner and keep this hospital open.” Healey said new owners of Stewards’ hospitals, including Lifespan, would receive financial aid “...cash advances, capital support and maximizing federal matches.” Healey said all Steward hospitals are currently open and treating patients. Material from The Associated Press was used in this report. Katie Castellani is a PBN staff writer. You may contact her at Castellani@PBN.com.