Steward Health Care finds last-minute funds to stay open

Steward Health Care says it secured $225 million in funding to stay open through its bankruptcy.

Why it matters: The Dallas-based hospital system, which operates eight hospitals in Massachusetts, was days away from running out of money, the Boston Globe reported.

State of play: Steward plans to seek approval for the loan in bankruptcy court later this week, WBUR reported.

• Steward didn't name the lenders, but noted they had given it funding before.
• The loan is expected to keep the hospital system funded into the fall.

Flashback: Steward filed for Chapter 11 bankruptcy this spring with $75 million in debtor-in-possession financing from its landlord, Alabama-based Medical Properties Trust.

• Steward said it has more than 100,000 creditors and liabilities between $1 billion and $10 billion, WBUR reported.
• Several state officials, including Gov. Maura Healey, called on Steward to leave Massachusetts after the hospital system's financial problems surfaced.

What's next: Steward plans to sell off its hospitals and physician network at a pair of auctions , including seven Massachusetts hospitals on June 27:

• Holy Family Hospital in Methuen and Haverhill
• Nashoba Valley Medical Center in Ayer
• St. Elizabeth's Medical Center in Brighton
• Carney Hospital in Dorchester
• Good Samaritan Medical Center in Brockton
• Morton Hospital in Taunton
• Saint Anne's Hospital in Fall River

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