Dallas-based Steward Health Care has closed the sale of its physician group, Stewardship Health, to Nashville, Tenn.-based Rural Healthcare Group, a primary care provider organization and part of Kinderhook Industries.
Here are four things to know:
1. Steward, which sought Chapter 11 protection May 6, entered into a definitive agreement in early August to sell Stewardship Health to RGH for a reported $245 million in cash. Stewardship Health comprises Steward Health Care Network and the Steward Medical Group.
3. Under the acquisition, Stewardship will be rebranded as Revere Medical. The new group plans to invest in the Stewardship infrastructure legacy across technology and people to drive care quality in its networks and clinics, according to an Oct. 31 news release.
4. Revere Medical will work to ensure patients still have access to their existing hospitals, specialists and providers.
5. "The next step is to integrate the two organizations while making further investments to bolster the delivery of care," Benson Sloan, CEO of Revere Medical, said in the release. "As Revere Medical, our mission of improving the lives of people in underserved areas through high-quality care remains unchanged."