Steward CEO May Face Contempt Over Bankruptcy
Steward CEO May Face Contempt Over Bankruptcy
Steward CEO May Face Contempt Over Bankruptcy
News summary

Steward Health Care CEO Ralph de la Torre refused to testify before the U.S. Senate Committee on Health, Education, Labor & Pensions, leading to plans to hold him in contempt. Senators criticized de la Torre for prioritizing personal wealth and corporate profits over patient care, resulting in understaffed hospitals and inadequate medical supplies. Steward Health Care, which filed for bankruptcy in May, has been selling off its hospitals to manage its $9 billion debt. Witnesses, including nurses, highlighted severe impacts on patient care, with some using personal funds to buy essential supplies. The hearing intensified scrutiny on private equity's role in healthcare, with calls for regulatory reforms. An agreement was reached to keep remaining Steward hospitals open during their sale and transition, alleviating immediate concerns from stakeholders.

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