A Michigan-based health care company that specializes in distressed hospitals made a bid to buy all of Steward’s Massachusetts hospitals out of bankruptcy, but the bid was rejected as not viable, WBUR has learned.
Steward's critics, including the Massachusetts Nurses Association, have argued the company should give greater consideration to all bidders to avoidCarney Hospital in Dorchester. Bawahab said Insight has “extensive experience assuming leadership of distressed, underperforming healthcare organizations across the country and turning them into sustainable operations that meet the needs of the communities we serve.” The company operates or manages hospitals in Michigan, Illinois, New Jersey and other states.“Carney and Nashoba Valley did not receive qualified bids.
The Healey administration is developing a plan to prop up the new operators of the Steward hospitals with streams of public funding. Administration officials said the recently approved state budget provides $35 million a year for three years to help the new hospital operators. Combined with matching federal funds, the new operators will receive $80 million a year for the next three years.