Steward Health Care Completes Agreement With Lenders to Extend Current Credit Agreement Through December 2023

DALLAS--(BUSINESS WIRE)--Steward Health Care System LLC (Steward) today announced the completion of the extension of their ABL agreement with its lenders, through December 2023. Led by Citibank, N.A. as Administrative Agent, the new agreement amends and restates in its entirety Steward’s previous credit agreement.

Steward Chairman and CEO Dr. Ralph de la Torre commented, “The Covid pandemic, and its aftermath, exposed serious fault lines in the traditional approach to health care. Steward used lessons from the pandemic to refocus its nationally acclaimed value-based model. The extension of our ABL coupled with our reengineered structure position us extraordinarily well for the coming year. We look forward to leading the industry in this new era of health care and continuing to provide world class care to our patients.”

About Steward Health Care System:

Nearly a decade ago, Steward Health Care System emerged as a different kind of health care company designed to usher in a new era of wellness. One that provides our patients better, more proactive care at a sustainable cost, our providers unrivaled coordination of care, and our communities greater prosperity and stability.

As the country’s largest physician-led, tax paying, integrated health care system, our doctors can be certain that we share their interests and those of their patients. Together we are on a mission to revolutionize the way health care is delivered - creating healthier lives, thriving communities and a better world.

Steward is among the nation’s largest and most successful accountable care organizations (ACO), with more than 5,500 providers and 43,000 health care professionals who care for 12.3 million patients a year through a closely integrated network of hospitals, multispecialty medical groups, urgent care centers, skilled nursing facilities and behavioral health centers.

Based in Dallas, Steward currently operates 39 hospitals across Arizona, Arkansas, Florida, Louisiana, Massachusetts, Ohio, Pennsylvania, Texas, and Utah.