Steward Health Care extends current credit agreement through December 2023

Yesterday, Steward Health Care System announced the completion of the extension of their ABL agreement with its lenders, through December 2023. Led by Citibank, N.A. as administrative agent, the new agreement amends and restates in its entirety Steward’s previous credit agreement. Steward Chairman and CEO Dr. Ralph de la Torre commented, "The Covid pandemic, and its aftermath, exposed serious fault lines in the traditional approach to health care. Steward used lessons from the pandemic to refocus its nationally acclaimed value-based model. The extension of our ABL coupled with our reengineered structure position us extraordinarily well for the coming year. We look forward to leading the industry in this new era of health care and continuing to provide world class care to our patients."