Steward Health Care’s bankruptcy may hit a critical point Thursday morning as several hospitals in its network could be auctioned off. The company filed for bankruptcy on May 6, prompting the auction of hospitals that have attracted multiple bids on the open market.
The hospitals in question are located in Brockton, Taunton, Fall River, Brighton, Dorchester, Methuen, Haverhill, and Ayer. In a statement, Steward Health Care acknowledged the bids and mentioned ongoing evaluations. However, the Department of Public Health leaders suggested the auction could be delayed as Steward seeks more interest from potential buyers.
This development coincides with a decline in patient numbers at many of these hospitals. Since the beginning of the year, several hospitals, including both Boston facilities, have experienced a 33% drop in patients. Meanwhile, non-Steward hospitals are reporting an increase in emergency room visits and admissions.
Despite these challenges, the state health commissioner confirmed that most Steward hospitals still meet state and federal health standards.
If the auction proceeds on Thursday, a sale hearing is scheduled in the U.S. Bankruptcy Court on July 31.
