The American Prospect reports, in hindsight, it should have been easy to figure out how Steward Health Care would begin circling the drain more than a decade ago. Key point:
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.