Steward agrees to sell doctor’s group for $245M

BOSTON, Mass. (WLNE) — Steward Health Care has agreed to sell its physician’s network to a private equity firm for $245 million.

Rural Healthcare Group is owned by Kinderhook, LLC, a primary care provider organization.

RHG’s mission is to “improve the lives of people living in underserved areas through high-quality primary care.”

In a release, they stated the sale will “result in strong patient and physician outcomes, and [the company] will continue to serve its loyal patient following in the Commonwealth of Massachusetts under new ownership.”

Steward has received approval to close Carney Hospital in Dorchester and Nashoba Valley Medical Center in Ayer.

Employees voiced their concerns over the closure during an open meeting with the Massachusetts Department of Public Health last night.

Steward filed for Chapter 11 bankruptcy back in May.

Steward has delayed their sales hearing for Friday, as they said they have received bids to acquire six of their Massachusetts hospitals which includes Saint Elizabeth’s Medical Center, Saint Anne’s Hospital, Good Samaritan Medical Center, Holy Family Hospital – Haverhill, Holy Family Hospital – Methuen, and Morton Hospital.