Ralph de la Torre will step down as CEO of troubled Steward Health Care next week, the company said Saturday, after the US Senate held him in criminal contempt for refusing to testify about cost-cutting decisions at the 31 hospitals. of the group before filing for bankruptcy.
In a statement, the Dallas-based company said de la Torre will no longer serve as CEO and chairman as of Oct. 1, as part of an agreement in principle reached earlier this month.
A spokesperson for de la Torre confirmed that the former heart surgeon “has amicably separated from Steward on mutually acceptable terms” and “will continue to be a tireless advocate for improving reimbursement rates for the underprivileged patient population.”
The Senate voted unanimously Wednesday to hold de la Torre in criminal contempt of Congress after he refused to appear at a Sept. 12 hearing before the Senate Health, Education, Labor and Pensions Committee looking into Steward’s financial problems. De la Torre had been summoned to attend the hearing.
Steward, the largest private hospital network in the US, filed for bankruptcy in May, seeking to sell all of its hospitals and deal with $9 billion in debt. The company has sold several hospitals since that application.
“Dr. de la Torre urges continued focus on this mission and believes that Steward’s financial challenges shine a much-needed spotlight on Massachusetts’ continued failure to fix the structure of health care and inequities in its state system,” his spokesman said.
Some hospitals affected by Steward’s financial problems were based in Massachusetts.
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Reference;
Reuters (2024) Steward Health CEO who refused to testify to US Senate will step down By Reuters, Investing.com. Investing.com. Available at: https://www.investing.com/news/stock-market-news/steward-health-ceo-who-refused-to-testify-to-us-senate-will-step-down-3637649 (Accessed: 29 September 2024).
