Steward Health CEO Resigns Amid Scrutiny and Bankruptcy

The CEO of Steward Health Care, Ralph de la Torre, has stepped down from his position following months of scrutiny and controversy surrounding the company's financial struggles and bankruptcy filing. De la Torre's departure comes after he failed to testify before a U.S. Senate panel investigating Steward's financial dealings.

Steward Health Care, a network of 30 hospitals across the country, has faced criticism for its troubled recent history, particularly in New England where several of its hospitals are located. A CBS News investigation revealed how private equity investors and de la Torre extracted hundreds of millions of dollars from the company while healthcare workers and patients struggled to access essential supplies.

In August, Steward closed two Massachusetts hospitals, leaving over 1,200 workers jobless. The company's bankruptcy filing in May further raised concerns about its financial stability and the impact on patient care.

Following de la Torre's resignation, several prominent politicians expressed their dissatisfaction and called for further accountability. Senator Bernie Sanders of Vermont stated that Congress would hold de la Torre accountable for his actions, while Senator Elizabeth Warren of Massachusetts demanded his prosecution for contempt and investigation for potential criminal activity. Senator Ed Markey of Massachusetts also emphasized the need for legal repercussions, highlighting de la Torre's alleged extraction of millions for personal gain while patients and staff suffered.

De la Torre's resignation is effective October 1st. The Senate has approved a resolution to hold him in criminal contempt for failing to testify, and the matter has been referred to a federal prosecutor. Additionally, a whistleblower has come forward to Congress alleging that de la Torre and other Steward executives engaged in illegal activities to secure a hospital contract abroad.

The future of Steward Health Care remains uncertain as the company navigates bankruptcy proceedings and faces ongoing investigations. The impact of de la Torre's leadership and the company's financial struggles on patients and employees continues to be a major concern.