Steward Health Care
PE-Owned1 Documented ImpactCerberus sold off hospital real estate in sale-leaseback deals extracting ~$800M, loaded debt, and extracted dividends while hospitals deteriorated. Patients suffered, multiple states investigated. Filed bankruptcy in 2024.
Ownership Information
Steward Health Care is owned by Cerberus Capital. Private equity ownership often leads to cost-cutting, price increases, and reduced quality of service as firms prioritize returns for investors over customers and employees.Learn more about PE ownership impact →
Timeline
Steward Health Care founded
Acquired by Cerberus Capital for $246 million
Steward Health Care collapsed after Cerberus extracted $800M+ in sale-leasebacks
Cerberus sold hospital real estate, extracted dividends, and loaded debt while hospitals deteriorated. Patients suffered from understaffing and equipment failures. Multiple states investigated. Filed bankruptcy May 2024 with 30,000+ employees affected.
How Cerberus Bled Steward Health Care Dry
Boston Globe →Before vs. After PE Acquisition
Hospitals in crisis
Reported 2024
Before PE
30+ hospitals operational
After PE
Bankrupt, hospitals closing
↓ 100%
Community Reviews
Share your experience →Tracked Locations
CA (1)
San Diego
4947 Main St
San Diego, CA 92101
555-883-1818
CO (1)
Denver
838 Main St
Denver, CO 80201
555-122-9564
IN (1)
Indianapolis
3659 Main St
Indianapolis, IN 46201
555-889-8447
MA (1)
Boston
9236 Main St
Boston, MA 02101
555-182-3888
NY (1)
New York
3870 Main St
New York, NY 10001
555-823-2856