Steward Health Files Chapter 11 as It Seeks Landlord Funding

Steward Health Care System LLC has filed for Chapter 11 bankruptcy while negotiating a rescue loan with its landlord, Medical Properties Trust Inc. The Massachusetts-based healthcare provider, operating 33 hospitals across nine U.S. states, cited financial struggles due to increased costs and inadequate government reimbursements. Medical Properties Trust is set to provide a debtor-in-possession loan to help Steward Health restructure and maintain operations during the bankruptcy process.