Hospitals & Healthcare Systems
Steward Health Care
Cerberus 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.
- FOUNDED
- 2010
- ACQUIRED
- Cerberus Capital, 2010, $246 million
- IMPACTS
- 1 documented
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Editorial Record
maintained by DeathbyPE. Every claim links to a public source.Timeline
Steward Health Care founded
Acquired by Cerberus Capital for $246 million
Steward Health Care collapsed after Cerberus extracted $800M+ in sale-leasebacks
CriticalClosure / BankruptcyCerberus 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
Before / After
Hospitals in crisis
reported 2024
before 30+ hospitals operational
after Bankrupt, hospitals closing
-100%
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