for-profit hospitals

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Steward Continues Buying Spree; Globe Reports Deal for Lowell Hospital


The Boston Globe’s Rob Weisman reports here:

Steward Health Care System this morning unveiled its second deal in the past four days to acquire an eastern Massachusetts hospital, saying it has a letter of intent to buy Saints Medical Center in Lowell.

Saints is a 157-bed Catholic community hospital formed through the merger of two separate local hospitals in the late 1990s. Under the letter of intent, it will retain its Catholic identity as it affiliates with Steward, which runs six other Catholic hospitals in the state, including St. Elizabeth’s Medical Center and Carney Hospital in Boston.

Financial terms will be negotiated in an asset purchase agreement, which is expected to take another 30 to 60 days.

For more background and a helpful overview of what it may mean as more hospitals shift from non-profit to for-profit status, see last week’s Globe story on the topic here.

From Health Care Scandals To Florida’s Governor’s Mansion

Wilfredo Lee/AP

Our colleague Scott Hensley at NPR provides some valuable historical perspective on the newly elected governor of Florida, Rick Scott, noting that Mr. Scott has the rep of being the “Darth Vader of the hospital industry” from his old days heading the chain Columbia/HCA.

Read his fascinating piece here. It recalls the huge fines for fraud that Rick Scott’s company had to pay, and quotes a “rip-roaring” op-ed from Florida novelist Carl Hiaasen titled “Scott is either incompetent or a lying crook.” Can’t wait until Hiaasen uses Mr. Scott as one of those larger-than-life characters — or maybe he already has?