For Immediate Release - January 30, 2013

AG Issues Monitoring Reports on Steward Health Care System

Reports Are First Under Five-Year Agreement

BOSTON – The first set of reports by the Attorney General’s Office evaluating Steward Health Care System’s first year of operations has been released.

In connection with its approval of Steward’s acquisition of non-profit Caritas Christi Health Care in November 2010, Attorney General Martha Coakley’s office executed agreements with Steward to monitor Steward’s impact on the Massachusetts health care market and to enforce specific provisions of the purchase agreement related to the public interest.

Today, the AG’s office released two reports concerning its five-year monitoring of Steward: a Compliance Monitoring Report reviewing Steward’s compliance with the purchase agreement, and an Impact Monitoring Report reviewing Steward’s impact on the market.

The review reinforces previous findings that Steward acquired community hospitals in deteriorating financial condition and with significant deferred capital investment needs.  The first year review indicates that Steward is striving to meet its stated goal of keeping more care in the community.  One year of performance information is not enough to predict how Steward will perform in future years.

In future reports, the AGO will present information on Steward’s activity year-over-year to enable longitudinal assessment of Steward’s impact and to better analyze trends.

This comprehensive first year review was conducted by a team from AG Coakley’s Health Care Division and Non-Profit Organizations/Public Charities Division that includes AAG Karen Tseng and AAG Nora Mann, as well as Division Chiefs Tom O’Brien and Mary Beckman.  

#########

Follow us on Twitter – View our Photos – Visit our Website