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Personal fairness purchaser hires 2 Steward leaders: 5 issues to know


Two former executives of Dallas-based Steward Well being Care at the moment are C-suite leaders on the personal fairness group that bought the well being system’s doctor follow, Boston Enterprise Journal reported Nov. 26.

5 issues to know:

1. The transfer drew criticism from Massachusetts Sen. Ed Markey, who outlined issues in a Nov. 25 letter to the CEO of the personal fairness group. The group rebranded from Rural Healthcare Group to Revere Medical after buying Steward’s follow buy, the Enterprise Journal reported.

2. The Senate’s Well being, Schooling, Labor and Pensions Committee, for which Mr. Markey serves as a subcommittee chair, has sought to carry former Steward CEO Ralph de la Torre accountable for points that led to the well being system submitting for Chapter 11 chapter in Could.

“I’m involved that the identical Stewardship executives who drove that healthcare supplier into the bottom will now take the reins at Revere Medical,” Mr. Markey wrote within the letter. “These executives shouldn’t be permitted to fail up and place in jeopardy one other healthcare supplier on which Massachusetts residents will come to rely.”

3. Andrew Herman, chief development officer at Nashville, Tenn.-based Revere Medical, beforehand served as CFO of Steward Well being Care Community and later held the identical function on the Stewardship division, in response to his LinkedIn profile.

4. Joseph Weinstein, MD, serves as Revere Medical’s chief medical officer and beforehand held the identical function at Steward Well being Care since 2016, in response to his LinkedIn profile.

5. Mr. Markey criticized the choice to retain Steward executives concerned throughout what he described because the system’s “disastrous monetary and operational decline.” He requested a number of questions in his letter, together with how Revere Medical’s govt crew will differ from Steward’s and what modifications can be applied to forestall previous errors. He requested a response by Jan. 10.

Revere Medical was not instantly obtainable for remark. This story can be up to date if extra data turns into obtainable.

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