On Anniversary of Steward Health Care Bankruptcy, Warren, Markey Push For Accountability for Ralph de la Torre and other Steward, MPT Executives

Text of Letters (PDF)
Washington, D.C. –Today, on the one-year anniversary of Steward Health Care’s (Steward) bankruptcy filing, U.S. Senators Elizabeth Warren (D-Mass.) and Ed Markey (D-Mass.) wrote to the Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) seeking accountability for Ralph de la Torre and other Steward and Medical Properties Trust (MPT) executives who walked away with millions of dollars while making decisions that drove the hospital system into bankruptcy.
“Dr. de la Torre and other Steward executives engaged in years of unusual deals with corporate partner Medical Properties Trust, using Steward’s increasingly scarce capital to fund Dr. de la Torre’s luxurious jet-setting lifestyle,”wrote the senators to the Department of Justice. “Meanwhile, patient care at Steward’s hospitals suffered, with management failures causing a vast human toll, tallied in lives lost, suffering endured, physical injuries, and moral indignities.”
On May 6, 2024, after years of financial problems, Steward declared bankruptcy, leading to the closure of two hospitals in Massachusetts and costing taxpayers, front-line health care workers, and small businesses in the state hundreds of millions of dollars. When the Senate Committee on Health, Education, Labor, and Pensions (HELP) subpoenaed Dr. de la Torre for answers on Steward’s bankruptcy, he failed to appear at his hearing and was later held in criminal contempt by a unanimous vote of the Senate.
In the letter to Attorney General Pam Bondi,the senators wrote, “[a]s evidenced by the unanimous contempt referral, the Senate believes this matter is serious, meriting a criminal investigation by the Department. We urge DOJ to give appropriate weight and consideration to the bipartisan and unanimous nature of this referral.”
The senators are also pushing for the SEC to open an investigation into MPT and its relationship with Steward and whether MPT may have violated securities laws by misleading investors and the public.
Senator Warren, one of the nation’s leading bankruptcy experts, has led congressional oversight of Steward’s failures and repeatedly called out the harms of private equity ownership on health care costs and quality of care, and has fought to prevent companies from taking advantage of the bankruptcy system:
In February 2025, Senator Warrenquestionedprivate equity executive Stephen Feinberg, President of Cerberus Capital Management and nominee for Deputy Secretary of Defense, on his actions to enrich himself and his investors at the expense of Steward Health Care patients and workers.
In November 2024, Senator Elizabeth Warren (D-Mass.) and Representative Jake Auchincloss (D-Mass.) sent aletterpushing the Massachusetts Health Policy Commission to hold the Rural Healthcare Group accountable for protecting Steward patients and doctors.
In October 2024, Senator Warrenled colleaguesin reintroducing the Stop Wall Street Looting Act, comprehensive legislation to fundamentally reform the private equity industry and level the playing field by forcing private investment firms to take responsibility for the outcomes of companies they take over, empowering workers and protecting investors. This reintroduction comes after private equity firm Cerberus looted Steward Health Care, leaving hospitals, patients, and workers hanging out to dry.
In September 2024, Senator Warren released astatementfollowing Steward CEO Ralph de la Torre’s refusal to comply with a congressional subpoena.
In September 2024, Senators Warren and Markey (D-Mass.), alongside Representatives Auchincloss and Lynch,sent a letterto RHG raising concerns over its proposed acquisition of Steward Health Care’s physician group, Stewardship Health.
In September 2024, Senator Warrenurgedthe IRS to crack down on Real Estate Investment Trusts (REITs) squeezing the health care industry.
In August 2024, Senators Warren and Markeyrequested informationfrom private equity firm Apollo Global Management (Apollo) on the company’s role in Steward’s bankruptcy, and urged Apollo to work in good faith to facilitate the sale of Steward’s Massachusetts hospitals.
In July 2024, Senators Warren and Markeywroteto Medical Properties Trust and Macquarie Infrastructure Partners, owners of Steward’s eight Massachusetts hospitals, urging them to offer lease concessions to keep the hospitals open and viable.
In June 2024, Senators Warren and Markeyintroducedthe Corporate Crimes Against Health Care Act of 2024 to root out corporate greed and private equity abuse in the health care system, specifically preventing what happened with Steward from happening again.
In June 2024, Senator Warrenwroteto the DOJ, FTC, and HHS calling out high health care costs due to vertically-integrated insurers, private equity companies, and pharmaceutical companies that are driving health care consolidation.
In June 2024, Senators Warren, Brown (D-Ohio), and Markeywroteto the Director of the U.S. Trustee Program (USTP), calling for USTP to move to appoint a Chapter 11 trustee to run the company in place of Steward’s current management and to monitor the hospitals’ bankruptcy proceedings to protect patients and local communities.
In May 2024, Senator Warren sent aletterto the U.S. Department of Health and Human Services and the U.S. Centers for Medicare & Medicaid Services, urging them to support communities and health care providers affected by the crisis caused by Steward’s financial mismanagement.
In April 2024, Senators Warren and Senator Markey (D-Mass.) sent a letter to six private credit funds that are holders of Steward’s debt,asking thema series of questions about their loans and calling on them to offer loan modifications that could potentially help keep the hospitals afloat.
In April 2024, Senators Warren and Markey called out Medical Properties Trust and Macquarie Infrastructure Partners for exploiting Steward Hospitals, andurgedthem to help keep the hospitals open.
In April 2024, Senators Warren, Markey, and the rest of the MA delegationurgedthe FTC and DOJ to closely scrutinize UnitedHealth Group’s proposed acquisition of Steward Health Care’s physician group, Stewardship Health.
In April 2024, Senator Warrendeliveredremarks at a Senate hearing in Boston titled, “When Health Care Becomes Wealth Care: How Corporate Greed Puts Patient Care and Health Workers at Risk,” which centered on Steward Health Care’s Massachusetts hospitals.
In April 2024, Senators Warren and Ed Markey (D-Mass.)called outprivate equity firm Cerberus Capital Management (Cerberus) for its role in creating Steward Health Care’s financial challenges, following Cerberus’s reply to the Massachusetts congressional delegation’s February 2024 probe.
In March 2024, Senator Warrenreleaseda statement about Steward’s plan to sell its physician group Stewardship Health to UnitedHealth Group’s subsidiary Optum.
In March 2024, Senators Warren and Markeysent a letterto Steward CEO and Chairman Dr. Ralph de la Torre, calling on him to testify at a congressional hearing in Boston.
In March 2024, Senators Warren and Markeysent a letterto Dr. de la Torre, blasting him for years of financial mismanagement, private equity schemes, and executive profiteering that have led to Steward Health Care’s financial crisis.
In February 2024, Senators Warren and Markey, along with all nine members of the Massachusetts congressional delegation,senta letter to Cerberus seeking answers from the private equity firm for its role in creating the current financial challenges at Steward hospitals.
In January 2024, Senator Warrenreleased a statementabout Steward’s financial situation and allegations of patient neglect at Steward facilities.
In January 2024, Senator Warren led the Massachusetts congressional delegation in aletterto the CEO of Steward Health Care pressing the company to brief them on Steward’s financial position, the status of their Massachusetts facilities, and their plans to ensure the communities they serve are not abandoned.
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