Steward Health Care strikes deal to sell its nationwide physician network to Optum

abcnews.go.com:

Financially embattled hospital operator Steward Health Care has struck a deal to sell its nationwide physician network to Optum, a subsidiary of UnitedHealth Group, as it works to stabilize its finances

BOSTON — Financially embattled hospital operator Steward Health Care has struck a deal to sell its nationwide physician network to Optum, a subsidiary of UnitedHealth Group, as it works to stabilize its finances.

The move comes as Gov. Maura Healey has said state monitors are keeping eye on the nine health care facilities operated by Steward Health Care in Massachusetts, including hospitals in some of the state’s poorer communities.

The Dallas-based company operates more than 30 hospitals nationwide.

Before the sale can be completed, the Massachusetts Health Policy Commission must review the proposal.

The commission doesn’t have the authority to block a transaction but can refer findings to the state Attorney General's office, the Department of Public Health, or other Massachusetts agencies for possible further action.

The documents filed with the state did not include a cost for the transaction. Under the deal, Optum would aquire a Steward affiliate that includes the company’s primary care doctors and other clinicians in nine states.

Health Policy Commission Executive Director David Seltz said the panel is committed to a “rigorous, data-driven oversight of health care market changes to bring important information to the public.”

He said details of the proposal will be studied to examine potential effects on health care costs, quality, access and equity. The sale can’t be completed until after the commission’s review and any additional reviews by state or federal antitrust authorities.

“This is a significant proposed