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Senate Launches Investigation into Steward Health Care's Bankruptcy

Bipartisan committee subpoenas CEO Ralph de la Torre over allegations of financial mismanagement and corporate greed.

Overview

  • Steward Health Care operates 31 hospitals across eight states and filed for Chapter 11 bankruptcy in May.
  • CEO Ralph de la Torre is accused of profiting millions while hospitals faced severe financial issues.
  • The Pensions Committee's investigation is its first subpoena since 1981.
  • Senators highlight the impact on patient care, including incidents where essential supplies were unavailable.
  • The investigation aims to address broader concerns about private equity's role in the healthcare system.