The deal facilitated by U.S. Bankruptcy Judge Christopher Lopez involves Steward Health handing over its hospitals to Medical Properties Trust as part of its bankruptcy proceedings.
In the new arrangement, Healthcare Systems of America will act as the interim manager for several South Florida hospitals, ensuring operations continue while the ownership transition occurs.
This transition aims to keep the hospitals operational while allowing Steward Health to exit its lease obligations, thus moving forward in alleviating its financial burdens.
Medical Properties Trust will withdraw its financial claims against Steward Health, representing a significant shift in the operational management of the hospitals in South Florida.
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