Tuesday’s bankruptcy court hearing regarding the sale of several Steward Health Care hospitals in Massachusetts has been postponed until Friday. The company has received binding bids from local operators for six Massachusetts hospitals, including Saint Elizabeth’s Medical Center and Morton Hospital. A deal with Massachusetts includes $30 million in advance Medicaid payments to keep the hospitals open through August, with $11 million due on Friday. However, the postponement could affect the second round of payments of $19 million, which are dependent on court approval of the sale by August 15. The court filing also moved sales hearings for hospitals in Arizona and Florida to September 10 and postponed hearings for hospitals in Ohio, Pennsylvania, and Texas. The reason for the postponement was not provided in the filing. Massachusetts officials have not commented on how this delay will impact the payment agreement. Steward Health Care has already received court approval to close Carney Hospital and Nashoba Valley Medical Center. The company is in the process of selling off its physician network and multiple hospitals in Massachusetts, Arkansas, and Louisiana. The fate of these institutions is in the hands of the lenders as the bankruptcy proceedings continue.
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