US Healthcare Landlord Medical Properties Trust's Largest Tenant Steward Health Goes Bankrupt, Sparks Regulatory Concerns

Benzinga05-08

Medical Properties Trust Inc’s (NYSE:MPW) tenant Steward Health Care plunged into Chapter 11 bankruptcy, posing significant financial risks for hospitals across eight states. State regulators, ...

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With a network of 30 hospitals catering to 2.2 million patients annually, the chain’s recent struggles have underscored alarming incidents, including the evacuation of an intensive-care unit due to bats, unpaid travel nurses, and equipment shortages.Related:Unpaid Rent Drama: Medical Properties Trust’s Stock Nosedives As Tenant Steward Struggles, Prompting New Loan.Unlike typical bankruptcies, Steward’s predicament stands out as it lacks secured financing. The company’s reliance on its landlord, Medical Properties Trust, for liquidity has raised eyebrows.Despite owing billions, the Wall Street Journalnotedthat Steward is negotiating a $300 million loan from Medical Properties Trust to sustain its operations thro","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"IE00BJJMRY28.SGD":"Janus Henderson Balanced A Inc SGD","IE00B2B36J28.USD":"JANUS HENDERSON GLOBAL LIFE SCIENCES \"I1\" (USD) INC","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","BK4533":"AQR资本管理(全球第二大对冲基金)","LU0234572021.USD":"高盛美国核心股票组合Acc","BK4203":"医疗保健房地产投资信托","IE00B19Z9P08.USD":"LEGG MASON CLEARBRIDGE US AGGRESSIVE GROWTH \"A\" (USD) INC","LU0310799852.SGD":"FTIF - Templeton Global Equity Income A MDIS SGD","MPW":"Medical Properties Trust","LU0058720904.USD":"联博国际健康护理基金A","LU0353189763.USD":"ALLSPRING  US ALL CAP GROWTH FUND \"I\" (USD) ACC","IE00BZ1G4Q59.USD":"LEGG MASON CLEARBRIDGE US EQUITY SUSTAINABILITY LEADER \"A\"(USD) INC (A)","IE0004445015.USD":"JANUS HENDERSON BALANCED \"A2\" (USD) ACC","IE00B19Z9Z06.USD":"Legg Mason ClearBridge - US Aggressive Growth A Acc USD","IE00B19Z3B42.SGD":"Legg Mason ClearBridge - Value A Acc SGD","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","IE00B7SZLL34.SGD":"Legg Mason ClearBridge - Value A Acc SGD-H","LU0158827948.USD":"ALLIANZ GLOBAL SUSTAINABILITY \"A\" (USD) INC","BK4154":"管理型保健护理","LU0320765059.SGD":"FTIF - Franklin US Opportunities A Acc SGD","IE00B1BXHZ80.USD":"Legg Mason ClearBridge - US Appreciation A Acc USD","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","IE0002270589.USD":"LEGG MASON CLEARBRIDGE VALUE \"A\" (USD) INC","LU0122379950.USD":"贝莱德世界健康科学A2","LU0316494557.USD":"FRANKLIN GLOBAL FUNDAMENTAL STRATEGIES \"A\" ACC","IE0002141913.USD":"JANUS HENDERSON GLOBAL LIFE SCIENCES \"I2\" (USD) ACC","LU0211327993.USD":"TEMPLETON GLOBAL EQUITY INCOME \"A\" (USD) ACC","IE00BKVL7J92.USD":"Legg Mason ClearBridge - US Equity Sustainability Leaders A Acc USD","LU0211326839.USD":"TEMPLETON GLOBAL INCOME \"A\" (USD) INC","IE00BJJMRZ35.SGD":"JANUS HENDERSON GLOBAL LIFE SCIENCES \"I2\" (SGDHDG) ACC","BK4225":"医疗保健房地产信托","LU0256863811.USD":"ALLIANZ US EQUITY \"A\" INC","HCSG":"医疗保健服务","LU0211328371.USD":"TEMPLETON GLOBAL EQUITY INCOME \"A\" (MDIS) (USD)   INC","LU0029864427.USD":"TEMPLETON GLOBAL \"A\" (USD) INC","LU0114720955.EUR":"SUSTAINABLE GLOBAL HEALTH CARE \"A\" INC","IE00BFSS7M15.SGD":"Janus Henderson Balanced A Acc SGD-H","IE00B894F039.SGD":"Legg Mason ClearBridge - US Aggressive Growth A Acc SGD-H","BK4137":"综合支持服务","LU0109391861.USD":"富兰克林美国机遇基金A Acc","LU0238689110.USD":"贝莱德环球动力股票基金","IE00B19Z9505.USD":"美盛-美国大盘成长股A Acc","IE00B19Z3581.USD":"Legg Mason ClearBridge - Value A Acc USD","IE00BJJMRX11.SGD":"Janus Henderson Balanced A Acc SGD","LU0417517546.SGD":"Allianz US Equity Cl AT Acc SGD","UNH":"联合健康","BK4532":"文艺复兴科技持仓","LU0266013472.USD":"AXA WF - Framlington Longevity Economy A Cap USD","LU0289739699.SGD":"AB INTERNATIONAL HEALTH CARE PORTFOLIO \"A\" (SGD) ACC","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC"},"translate_title":"美国医疗保健房东医疗财产信托的最大租户管家健康破产，引发监管担忧","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"UNH":1,"MPW":1,"HCSG":1},"content_text":"Medical Properties Trust Inc’s (NYSE:MPW) tenant Steward Health Care plunged into Chapter 11 bankruptcy, posing significant financial risks for hospitals across eight states. \nState regulators, alarmed by the precarious situation, have intensified scrutiny over the Steward Health Care System. With a network of 30 hospitals catering to 2.2 million patients annually, the chain’s recent struggles have underscored alarming incidents, including the evacuation of an intensive-care unit due to bats, unpaid travel nurses, and equipment shortages.\nRelated: Unpaid Rent Drama: Medical Properties Trust’s Stock Nosedives As Tenant Steward Struggles, Prompting New Loan.\nUnlike typical bankruptcies, Steward’s predicament stands out as it lacks secured financing. The company’s reliance on its landlord, Medical Properties Trust, for liquidity has raised eyebrows. \nDespite owing billions, the Wall Street Journal noted that Steward is negotiating a $300 million loan from Medical Properties Trust to sustain its operations through the bankruptcy proceedings.\nSteward Health Care’s assurance regarding uninterrupted operations has done little to assuage concerns. Dr. Ralph de la Torre, the CEO, maintains that despite the challenging healthcare landscape, the company has strived for operational success.\nIn Massachusetts, where Steward represents a significant portion of hospital capacity, regulators and competitors are mobilizing contingency plans. The state is actively seeking new owners for Steward hospitals to safeguard medical access, jobs, and healthcare stability.\nThe complexity of Steward’s bankruptcy is exacerbated by its intricate ties with Medical Properties Trust, potentially leading to conflicts between creditor interests and regulatory imperatives. Laura Coordes, an expert in hospital bankruptcy, highlights the inherent conflict between regulatory and bankruptcy goals.\nRegulatory interventions could translate into diminished returns for creditors like Medical Properties Trust. Medical Properties Trust, already bearing substantial exposure as Steward’s largest Tenant and lender, faces potential losses amid restructuring efforts.\nRegulators wield significant influence in bankruptcy proceedings, aiming to safeguard public health and community well-being. Their interventions could shape the outcome of Steward’s restructuring, impacting stakeholders and healthcare delivery.\nMonday, Medical Properties Trust approved the funding of $75 million in debtor-in-possession financing and said it has not committed to providing additional funding beyond this amount.  \nIn March, Steward Health Care entered a deal to sell its nationwide physician network to UnitedHealth Group Inc’s (NYSE:UNH) Optum Care unit.\nRead Next: Biggest US Hospital Land Owner Medical Properties Trust’s Prospect Medical Deal On Hold – What It Means For Investors?\nPrice Action: MPW shares closed at $4.5 on Monday.\nPhoto via Shutterstock\n\"ACTIVE INVESTORS' SECRET WEAPON\" Supercharge Your Stock Market Game with the #1 \"news & everything else\" trading tool: Benzinga Pro - Click here to start Your 14-Day Trial Now!\nGet the latest stock analysis from Benzinga?\n\nThis article US Healthcare Landlord Medical Properties Trust's Largest Tenant Steward Health Goes Bankrupt, Sparks Regulatory Concerns originally appeared on Benzinga.com\n© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.5","shortVersion":"4.22.5","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2433780655"}