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   Zauberlehrling (rvaughnmd@med-mastodon.com)'s status on Sunday, 28-Jan-2024 09:50:01 JST Zauberlehrling

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   Another community hospital system crisis.

   Surgeries postponed, president steps down at Steward hospital amid financial crisis

   The hospital chain is $50 million behind on rent, according to Rep. Stephen Lynch, and looking to sell all nine remaining Massachusetts hospitals, but most urgently Holy Family, Nashoba Valley, St. Elizabeth’s and Norwood Hospital.

   https://www.boston25news.com/news/local/surgeries-postponed-president-steps-down-steward-hospital-amid-financial-crisis/FWNB4RW3SBEPXEF65GJBCCAHFI/

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     Zauberlehrling (rvaughnmd@med-mastodon.com)'s status on Sunday, 28-Jan-2024 09:49:59 JST Zauberlehrling

     in reply to

     Private equity does what it does. If you give a scorpion a ride ... expect to get stung

     "For ten years, the hospital chain, which originated as an agglomeration of nun-operated Boston-area neighborhood hospitals known as Caritas Christi, was owned by the private equity firm Cerberus, which extracted more than $800 million in excess of its investment out of the hospitals, then left during the pandemic."

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     Zauberlehrling (rvaughnmd@med-mastodon.com)'s status on Sunday, 28-Jan-2024 09:50:00 JST Zauberlehrling

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     Erstwhile Boston media darling Steward Health Care has been strip-mining hospitals for a decade now. The power elite may finally be paying attention.

     State Rep. Mike Echols, who represents northern Louisiana and used to operate a large physician practice in the state, described Steward to the Prospect as “one of those corporate terrorists who come in and loot the ship and drain it dry.”

     https://prospect.org/health/2024-01-26-massachusetts-hospital-nightmare-steward-health/

     AnthonyJK-Admin repeated this.