In February 2017, Steward Health Care acquired eight hospitals from Community Health Systems, including three hospitals in Ohio, two in Pennsylvania and three in Florida. The deal became final in September, 2017. Steward said Medical Properties Trust would buy all of its hospital properties for $1.2 billion, lease the properties back to Steward, and pay $50 million for a five percent equity stake in the company. Steward lined up $1.25 billion from a real estate investment firm that will help the Boston-based company finance a national expansion, pay off debt, and return money to the private equity firm that bought it in 2010. In September 2016, The Boston Globe reported Steward Health Care System had made a deal to expand its operations. The company covers approximately three million full-risk patients through its integrated care network, hospitals, managed care and health insurance services in Arizona, Arkansas, Florida, Louisiana, Massachusetts, New Hampshire, New Jersey, Ohio, Pennsylvania, Texas, and Utah, as well as in Malta. In June 2020, Steward became the nation's largest physician-owned health care system, after Steward physicians acquired a 90 percent controlling interest in the company. Steward Health Care was started by Ralph de la Torre, when Caritas Christi Health Care system was sold to the private equity firm Cerberus Capital Management in 2010 after the transaction, Caritas was converted to a for-profit company and renamed Steward Health Care.
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