UNH - US Healthcare Landlord Medical Properties Trust's Largest Tenant Steward Health Goes Bankrupt Sparks Regulatory Concerns | Benzinga
Medical Properties Trust Inc’s (NYSE:MPW) tenant Steward Health Care plunged into Chapter 11 bankruptcy, posing significant financial risks for hospitals across eight states.
State regulators, alarmed by the precarious situation, have intensified scrutiny over the Steward Health Care System. With a network of 30 hospitals catering to 2.2 million patients annually, the chain’s recent struggles have underscored alarming incidents, including the evacuation of an intensive-care unit due to bats, unpaid travel nurses, and equipment shortages.
Unlike typical bankruptcies, Steward’s predicament stands out as it lacks secured financing. The company’s reliance on its landlord, Medical Properties Trust, for liquidity has raised eyebrows.
Despite owing billions, the Wall ...