Investigation reveals how investors made millions as Steward Health Care system collapsed
PBS News Hour - Segments
PBS NewsHour
4.1 • 1K Ratings
🗓️ 12 September 2024
⏱️ 7 minutes
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| 0:00.0 | The CEO of the nation's largest private for-profit hospital chain is under fire for ignoring a subpoena to testify before the Senate today. |
| 0:10.0 | The hearing looked at the financial collapse of Stewart Healthcare, |
| 0:13.2 | that's a hospital group created by a private equity firm, |
| 0:16.6 | generated huge fortunes for its investors and its CEO, |
| 0:20.2 | but left patients in dangerous, sometimes deadly conditions. |
| 0:24.0 | William Bringham has the story. |
| 0:26.0 | Jeff, Stewart's health care CEO, |
| 0:29.0 | Dr Ralph de la Torres, |
| 0:31.0 | skipped today's hearing |
| 0:32.0 | where he would have been questioned about his |
| 0:34.3 | role in the bankruptcy of this nationwide hospital chain. According to an |
| 0:39.0 | investigation by the Boston Globe, Stuart Health's 30-plus hospitals were some of the worst in the |
| 0:45.2 | nation. Six of its remaining hospitals in Massachusetts are for sale and two |
| 0:50.0 | others have closed. Several witnesses who worked for Stewart provided damning testimony today |
| 0:56.4 | about the role that corporate profits played in Stewart's downfall. That included a nurse |
| 1:02.2 | who described one example of how the chain's habit of not paying vendors |
| 1:07.3 | created horrible circumstances for grieving parents. |
| 1:11.4 | Sadly enough, sometimes babies die, newborn babies die, and the practice is to place the babies's remains in a bereavement box and take it to the morgue. |
| 1:27.0 | Stuart didn't pay the vendor and they weren't any bereavement boxes and nurses |
| 1:36.8 | were forced to put babies remains in cardboard shipping boxes. |
| 1:42.0 | For more on the downfall of this hospital chain, I'm joined by Mark Arsenal. |
| 1:46.9 | He's part of the Boston Globe Spotlight Investigative team that did this series. |
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