Massachusetts Gov. Maura Healey has committed $417 million over a span of three years to ensure the operation of six Dallas-based Steward Health Care hospitals under new ownership.
The funding includes $332 million in supplemental payments and $85 million in advances for expected claims in the future, a spokesperson for the governor shared with Becker's on Sept. 6.
U.S. Bankruptcy Court Judge Christopher Lopez approved the sale of the six facilities to three different health systems on Sept. 4.
Under the sale, Boston Medical Center will purchase Brockton, Mass.-based Good Samaritan Hospital and St. Elizabeth's Medical Center in Boston for $140 million, Providence, R.I.-based Lifespan will acquire Taunton, Mass.-based Morton Hospital and Fall River, Mass.-based St. Anne's Hospital for $175 million and Lawrence (Mass.) General Hospital will purchase Holy Family Hospital in Methuen (Mass.) and Holy Family Hospital in Haverhill (Mass.) for $28 million.
The funding will support both Holy Family Hospitals, Saint Anne's Hospital, Morton Hospital and Good Samaritan Medical Center.
Information regarding finances for St. Elizabeth's will be available at a later time as Ms. Healey's administration works to take over the hospital by eminent domain and transfer it to Boston Medical Center, the spokesperson said.
The commonwealth committed $72 million to the hospitals' operations between August and September, making the total funding $489 million. In August, Mr. Lopez approved $30 million for the hospitals and another $42 million in September from the commonwealth.