PHOTO: JOHN TLUMACKI
Steward Health Care, which has struggled financially during a period of rapid expansion, on Monday, May 6th, filed for Chapter 11 bankruptcy protection. The company owns 30 hospitals in eight states, including Massachusetts, Florida and Texas, where it is based.
The bankruptcy filing lists 30 creditors that are owed a total of more than $500 million, including the U.S. government, and Steward owes more than $32 million in reimbursements for insurance overpayments. Steward's debts likely are much higher, experts told CBS News, and this ultimately could be one of the largest hospital bankruptcies in U.S. history.
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