Parent company of Wadley Medical seeks relief through Chapter 11 bankruptcy filing

Hospital to continue providing services as normal

Today, Steward Health Care (“the Company”), a national fully integrated value- based healthcare system and the largest physician-led hospital operator in the United States, announced that it has commenced an in-court restructuring process through the filing of voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas.

The Company is finalizing the terms of debtor-in-possession financing from Medical Properties Trust for initial funding of $75 million and up to an additional $225 million upon the satisfaction of certain conditions acceptable to Medical Properties Trust.