Steward to Become Largest Privately-Owned For-Profit Hospital Operator in the U.S.
Steward Health Care LLC ("Steward") and IASIS Healthcare LLC ("IASIS") today announced they have entered into a definitive agreement to merge their operations. The transaction will make Steward the largest private for-profit hospital operator in the United States with 36 hospitals across ten states, managed care operations in Arizona, Utah and Massachusetts, and projected revenues of almost $8 billion in 2018, the first year of consolidated operations. The merger is expected to close in the third calendar quarter of 2017, subject to customary regulatory approvals, terms and conditions. Terms of the transaction were not disclosed. ... |