Steward Health Care Enters Into Agreement With Lenders to Extend Current Credit Agreement

DALLAS--(BUSINESS WIRE)--Steward Health Care System LLC (Steward) today announced that it has entered into an agreement with its lenders, led by Citibank, N.A. as Administrative Agent, that amends and restates in its entirety Steward’s previous credit agreement. The Agreement provides an interim extension of the maturity of the previous credit agreement, and Steward expects a further long-term extension of the maturities.

Steward Health Care CFO Christopher Dunleavy, commented, “We are pleased to confirm the extension of our ABL/credit agreement with our lenders. Our business continues to strengthen quarter by quarter. We are pleased with our current financial performance and are well-placed for the future of care delivery.”

About Steward Health Care System:
Nearly a decade ago, Steward Health Care System emerged as a different kind of health care company designed to usher in a new era of wellness. One that provides our patients better, more proactive care at a sustainable cost, our providers unrivaled coordination of care, and our communities greater prosperity and stability.

As the country’s largest physician-led, tax paying, integrated health care system, our doctors can be certain that we share their interests and those of their patients. Together we are on a mission to revolutionize the way health care is delivered - creating healthier lives, thriving communities and a better world.

Steward is among the nation’s largest and most successful accountable care organizations (ACO), with more than 5,500 providers and 43,000 health care professionals who care for 12.3 million patients a year through a closely integrated network of hospitals, multispecialty medical groups, urgent care centers, skilled nursing facilities and behavioral health centers.

Based in Dallas, Steward currently operates 39 hospitals across Arizona, Arkansas, Florida, Louisiana, Massachusetts, Ohio, Pennsylvania, Texas, and Utah.