Steward Health Files Chapter 11 Bankruptcy in Texas (Correct)

Steward Health Care System LLC filed for bankruptcy early Monday as it’s finalizing a rescue loan with landlord Medical Properties Trust Inc.

The Dallas-based firm sought Chapter 11 protection in the Southern District Court of Texas and listed assets and liabilities of $1 billion to $10 billion. The bankruptcy petition allows Steward Health to keep operating while it seeks approval for a restructuring plan.

Steward operates more than 30 hospitals across eight states and employs some 30,000 people, according to its bankruptcy website. It’s the biggest private tax-paying hospital chain in the country and has been struggling ...