![]() ![]() Since completing the deal to come to South Florida, Steward struck a deal to sell all of its hospitals in Utah to HCA Healthcare. "I pretty much predict that we're not going to get a penny out of South Florida for a few years because every penny (the hospitals) make, I'm going to reinvest." I'm not worried about that," de la Torre said. "We will make money from operations day one on them. Steward is much larger now and is making a big play for South Florida patients. Three months after launching the effort, it ended with no deal. At that time, Jackson was in financial trouble and it would have represented a hybrid business model, considering Jackson’s status as the safety net public hospital in Miami and Steward is a for-profit company. In 2011, the company offered to buy Miami's Jackson Health System for $1.1 billion dollars. Steward tried to get into the regional health care industry 10 years ago. The Florida Channel Leon County Judge John Cooper on June 30, 2022, in a screen grab from The Florida Channel. Just from pure demographics, it makes a lot of sense. ![]() We know that it's a market that is positioned for continued growth. "We absolutely love the South Florida market. "These facilities have a number of things that make them incredibly appealing to us," said Stewart Health North America president Dr. Steward has expanded its hospital and medical center footprint from its traditional base in Massachusetts to 10 states and two countries. De la Torre, a cardiac surgeon, put together Steward Health through a series of deals over the past 11 years with the help of a private equity investor. Steward Health Care is the largest physician-owned health network in the country. Together the facilities have more than 2,000 hospital beds. The deal that is personal expands Steward's presence in Florida with North Shore Medical Center, Hialeah Hospital, Palmetto General, Coral Gables Hospital and Florida Medical Center. It was very personal and it is very personal." "It's where I go when I visit my mom, my brother. It's home for many of us," he said.ĭe la Torre grew up in Florida after his parents fled Cuba in 1960. ![]() In August, the company closed on a $1.1 billion purchase of five hospitals in Miami-Dade and Broward counties. It is the newest player in the South Florida health care market. Ralph de la Torre ignored that adage.ĭe la Torre is the founder, chairman and CEO of Steward Health Care. Steward is among the nation’s largest and most successful accountable care organizations (ACO), with more than 5,500 providers and 43,000 health care professionals who care for 12.3 million patients a year through a closely integrated network of hospitals, multispecialty medical groups, urgent care centers, skilled nursing facilities and behavioral health centers.īased in Dallas, Steward currently operates 39 hospitals across Arizona, Arkansas, Florida, Louisiana, Massachusetts, Ohio, Pennsylvania, Texas, and Utah.There's a saying that business should not be personal. Together we are on a mission to revolutionize the way health care is delivered - creating healthier lives, thriving communities and a better world. One that provides our patients better, more proactive care at a sustainable cost, our providers unrivaled coordination of care, and our communities greater prosperity and stability.Īs the country’s largest physician-led, tax paying, integrated health care system, our doctors can be certain that we share their interests and those of their patients. Nearly a decade ago, Steward Health Care System emerged as a different kind of health care company designed to usher in a new era of wellness. We look forward to leading the industry in this new era of health care and continuing to provide world class care to our patients." The extension of our ABL coupled with our reengineered structure position us extraordinarily well for the coming year. Steward used lessons from the pandemic to refocus its nationally acclaimed value-based model. Ralph de la Torre commented, "The Covid pandemic, and its aftermath, exposed serious fault lines in the traditional approach to health care. as Administrative Agent, the new agreement amends and restates in its entirety Steward’s previous credit agreement. DALLAS, December 22, 2022-( BUSINESS WIRE)-Steward Health Care System LLC (Steward) today announced the completion of the extension of their ABL agreement with its lenders, through December 2023. ![]()
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