The chairman of the Miami-Dade County Commission has sent a letter to members of the Public Health Trust, which governs struggling Jackson Health, saying the county will oversee the process of evaluating Steward Health Care System's $1.1 billion bid to by Jackson Health, according to a Miami Herald report.
Joe Martinez, chairman of the commission, sent a letter to John Copeland, chairman of the Public Health Trust, saying "take no further action thereon without the prior approval of the County Commission," according to the report.
Steward is owned by private equity firm Cerberus Capital Management. Its bid to buy Jackson, which lost $105 million in its fiscal year 2010, surprises some members of the Trust. However, Ernesto de la Fe, a Trust member and investment banker, said earlier this week that the firm's interest in Jackson signals that there is potential to make money on the health system in a way that its current leaders have failed to realize, according to a separate Miami Herald report.
Read more coverage on Jackson Health:
- Boston's Steward Healthcare Bids $1.1B for Miami's Jackson Health System
- Miami's Jackson Health Says It Needs $32M to Remain Open Through Summer
Joe Martinez, chairman of the commission, sent a letter to John Copeland, chairman of the Public Health Trust, saying "take no further action thereon without the prior approval of the County Commission," according to the report.
Steward is owned by private equity firm Cerberus Capital Management. Its bid to buy Jackson, which lost $105 million in its fiscal year 2010, surprises some members of the Trust. However, Ernesto de la Fe, a Trust member and investment banker, said earlier this week that the firm's interest in Jackson signals that there is potential to make money on the health system in a way that its current leaders have failed to realize, according to a separate Miami Herald report.
Read more coverage on Jackson Health:
- Boston's Steward Healthcare Bids $1.1B for Miami's Jackson Health System
- Miami's Jackson Health Says It Needs $32M to Remain Open Through Summer