Bankrupt Steward Strikes Hospital Lease Pact With Landlord MPT

 

• Deal with Medical Properties Trust would settle lease claims
• MPT agrees to take over hospital operations and cover expenses

Bankrupt Steward Health Care has reached an agreement in principle with its landlord Medical Properties Trust Inc. to resolve billions of dollars of lease obligations that would provide a path toward keeping most of its hospitals open.

Steward said Friday that MPT has agreed to take over its existing hospitals and cover the operational expenses of the medical centers. The deal, which must be approved by a bankruptcy judge, is supported by Steward’s secured lenders, and a committee of the hospital operator’s unsecured creditors.

https://www.bloomberg.com/news/articles/2024-08-30/bankrupt-steward-strikes-hospital-lease-pact-with-landlord-mpt?srnd=homepage-europe