- Optum, a subsidiary of UnitedHealth Group, has decided to withdraw from its previously announced agreement to acquire Steward Health Care’s physician group, as confirmed by the Massachusetts Health Policy Commission (HPC). The deal, originally disclosed in March as a key part of Steward’s bankruptcy proceedings, faced criticism from lawmakers and other critics. According to Mickey O’Neill, communications director for the HPC, Optum has notified them of its intention to terminate the deal, although formal filings have not yet been withdrawn. Steward Health Care, which operates 31 hospitals across several states, continues to navigate bankruptcy proceedings, with the impact of this development on its restructuring efforts yet to be fully determined. (Article here)
July 16, 2024
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