State officials in Massachusetts confirmed Thursday they expect to provide more than $489 million over three years to help hospitals owned by the bankrupt, for-profit company Steward Health Care transition to new owners and keep serving patients. Some of that money has already flowed to the hospitals to help pay salaries and other expenses while Steward finalized sales agreements. A bankruptcy court judge in Houston approved the deals Wednesday, and they are scheduled to close by the end of this month. The judge also approved $42 million in immediate state aid to ensure the hospitals can make payroll next week and continue operating until the deals close. That will bring the total funding the state has provided so far to $72 million, in the form of advance payments for care the hospitals are providing to Medicaid patients.
