An area senator tells WHAV Holy Family Hospital did receive bids from potential buyers when last week’s bankruptcy sale deadline closed.
Sen Pavel M. Payano broke the news Monday during an appearance on WHAV’s “Win for Breakfast,” marking the first confirmation that there were any expressions of interest at all. It remains unclear whether any the amounts cover both the Methuen and Haverhill campuses or whether they hinge on concessions from the hospitals’ landlord, Medical Properties Trust.
“I don’t know how many bids, but I have heard of a few companies that have put a bid in,” Payano said.
The senator, who represents Haverhill, Methuen and Lawrence, said he expects more details will be released this week. As for the landlord—to whom Steward sold all of its properties in 2016—he said the two companies may actually be more closely related than most realize.
“Steward sold their properties to a company called MPT. I’m told that either Steward or there’s certain people within Steward that own stock in MPT. So, many advocates believe that they just basically sold it to themselves,” he said.
He added Steward sold its land and properties at “absurd” prices, much higher than amounts they paid themselves. Even if bidders are willing to pay the high rents, the hospitals’ futures would again be up in the air down the road.
“It’s one of these issues where even if they were to lower the cost and, say, they’re going to give a 10-year lease, what happens in 10 years to whatever hospital comes in?” He asked.
The senator said there is pressure, however, on Medical Properties Trust to sell to those bidding on the hospitals.
“The best solution—the pie in the sky—is whatever hospital does come in that they be able to own the property as well.”
Adding insult to injury, Payano said “informal sources” have told him the hospital’s equipment is 10 to 20 years old and parts are no longer being made. Even many of the physicians have left, he added.
Of those bidding, Payano said, some seek to “showcase” their vision on how to transform health care in this region.