Steward Health Care has entered definitive agreements to sell four Massachusetts hospitals and is finalizing the sale of two others.
Steward, which has been selling off facilities and other assets after filing for bankruptcy in May, said Thursday the agreements are all pending regulatory approval, including bankruptcy court proceedings. Financial details were not disclosed.
Related: Massachusetts finds new operators for six Steward hospitals
The Dallas-based health system entered definitive agreements to sell two Holy Family Hospital campuses in Methuen and Haverhill, Massachusetts, to Lawrence General Hospital in Lawrence, Massachusetts. Providence, Rhode Island-based Lifespan Health System also signed definitive agreements to purchase Morton Hospital in Taunton and St. Anne's Hospital in Fall River.
Steward said it is finalizing agreements with Boston Medical Center for the sale of Good Samaritan Medical Center in Brockton and St. Elizabeth's Medical Center in Brighton.
In late July, Steward announced layoffs of 1,200 employees across two Massachusetts hospitals not included in any of the latest sale negotiations: Carney Hospital in Dorchester and Nashoba Valley Medical Center in Ayer. Both institutions are expected to close at the end of this month.
Soon after the layoffs were announced, the system signed a definitive agreement to sell off its physician group to private equity firm Rural Healthcare Group for $245 million.
Following the physician group sale, Boston Medical, Lifespan and Lawrence agreed to tentatively take over operations for facilities In Massachusetts. A week prior, Steward secured $30 million in financing from the state of Massachusetts to keep the six facilities open.
