Steward Health Enters Florida Market After Billion-Dollar Deal

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Steward Health has now become one of the largest health care providers in South Florida after buying five hospitals in a $1.1 billion deal. The health care entity is the largest physician-owned hospital network in the country.

Steward Health is expanding its presence in cooperation with North Shore Medical Center, Hialeah Hospital, Palmetto General, Coral Gables Hospital, and Florida Medical Center.

“These facilities have a number of things that make them incredibly appealing to us,” said Steward Health North America Pres. Dr. Sanjay Shetty. “We absolutely love the South Florida market. We know that it’s a market that is positioned for continued growth. Just from pure demographics, it makes a lot of sense. Health care is a growth industry.”

Steward is currently run by Dr. Ralph de la Torre, who serves as chairman and CEO. He grew up in South Florida as his parents fled communist Cuba in 1960. He said the move to expand into South Florida was very personal.

“It’s where I go when I visit my mom, my brother,” Torre said. “It was very personal and it is very personal.”

As a result of the billion-dollar purchase back in August, Steward Health opted to sell its shares of all its hospitals in Utah to HCA Healthcare.

Earlier this month, Steward announced its first regional president for the South Florida Region: Dr. Marisela Marrero. Marrero will oversee the five hospitals acquired in the recent deal. She is adding to her plate as she has been serving as President of Hialeah Hospital since August.

“Dr. Marrero has a firmly established and impressive track record as a clinician and visionary administrator that makes her uniquely qualified to lead Steward’s South Florida Region,” said Sanjay Shetty, M.D., Steward’s President of North America. “She has a strong understanding of how to deliver exceptional community-based, value driven care particularly within underserved, diverse communities. I’m confident that Dr. Marrero will seamlessly partner with our team members and community partners to lead this important region to new heights during these challenging times.”

Steward is currently based in Dallas, Texas and has a total of 5,500 health care providers and over 43,000 healthcare professionals under its umbrella. Many of the senior leadership within Steward also have deep ties to Florida.

“As a Floridian with close family ties to the area, I am proud of Steward’s significant investment in the people of South Florida, whose tight-knit communities and vibrant diversity have always represented the very best of American culture,” de la Torre said in a statement.

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Grant Holcomb is a reporter at The Florida Capital Star and The Star News Network. Follow Grant on Twitter and direct message tips.
Photo “Money” by SCR3AMFR3AK. Background Photo “North Shore Medical Center (Miami)” by John Nuno. CC BY-SA 4.0. 

 

 

 

 

 

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