April 26, 2022 – Steward Health Care, LLC (Steward), one of the nation’s largest physician-led integrated health care systems, and among the top performing accountable care organizations in the country, today announced the purchase of the former Miami Medical Center property from Nicklaus Children’s Health System.
Founded by Ralph de la Torre, MD, who grew up in Florida as the son of Cuban immigrants, Steward Health Care’s physician-led model was built to unlock access to the highest-quality care at a sustainable cost. Steward is committed to providing personalized, ongoing medical services that improve patients’ physical, emotional, and mental wellbeing. As integrated care institutions, Steward’s hospitals function on a community model, engaging with local employees and community groups as partners.
“We are thrilled to grow our South Florida commitment to patients through the reopening of a hospital once critical to the city of Miami and its residents,” said Marisela Marrero, M.D., Steward Regional President for South Florida. “We are resolved to providing better, more accessible care, and further engaging with Miami’s wholly diverse communities, including patients in nearby Coral Gables — which has been without easily accessible, high-quality care for years.”
This latest Steward acquisition further expands the company’s commitment to bringing high-quality care to more communities in the Florida market and increases its South Florida network to six hospitals. Steward acquired five area hospitals in August 2021, including North Shore Medical Center, Coral Gables Hospital, Hialeah Hospital, Palmetto General Hospital, all in Miami-Dade County, as well as Florida Medical Center in Broward County.
“After a thorough process which included the review of multiple options for the sale of the property, Nicklaus Children’s decided to sell to Steward Health,” said Matthew A. Love, President and CEO of Nicklaus Children’s. “We look forward to continue serving children in South Florida and collaborating with Steward, as we do with other health systems in our community,” he said.
The hospital facility, located at 5959 NW 7th St in Miami, was initially acquired in 2014 and refurbished as part of a joint venture involving 60 physician investors, Children’s Health Ventures, Inc., a subsidiary of Nicklaus Children’s Health System, and Nueterra, a global organization with expertise in collaborating with physicians and health systems to fund, build and manage healthcare facilities, also formerly known as Pan American Hospital. When the joint venture did not meet expectations, the hospital closed in 2017 and Nicklaus Children’s later acquired the hospital and associated properties.
“We are pleased that Steward will utilize it for adult care services, while we continue our longstanding focus on meeting the care needs of the region’s children,” said Love.
About Steward Health Care
Nearly a decade ago, Steward Health Care System emerged as a different kind of health care company designed to usher in a new era of wellness. One that provides our patients better, more proactive care at a sustainable cost, our providers unrivaled coordination of care, and our communities greater prosperity and stability. As the country’s largest physician-led, tax paying, integrated health care system, our doctors can be certain that we share their interests and those of their patients. Together we are on a mission to revolutionize the way health care is delivered – creating healthier lives, thriving communities and a better world.
Steward is among the nation’s largest and most successful accountable care organizations (ACO), with more than 5,500 providers and 43,000 health care professionals who care for 12.3 million patients a year through a closely integrated network of hospitals, multispecialty medical groups, urgent care centers, skilled nursing facilities and behavioral health centers.
Based in Dallas, Steward currently operates 39 hospitals across Arizona, Arkansas, Florida, Louisiana, Massachusetts, Ohio, Pennsylvania, Texas, and Utah.
About Nicklaus Children’s Health System
Nicklaus Children’s Health System (NCHS) is the parent organization of Nicklaus Children’s Hospital, South Florida’s only licensed specialty hospital exclusively for children. The 309-bed nonprofit hospital, known as Miami Children’s Hospital from 1983 through 2014, was founded in 1950 by Variety Clubs International and is renowned for excellence in all aspects of pediatric medicine, with many programs routinely ranked among the nation’s best by U.S. News & World Report. The health system also includes Nicklaus Children’s Hospital Foundation, the organization’s 501c3 fundraising arm; a network of nonprofit outpatient and urgent care centers situated in Miami-Dade, Broward, Palm Beach and Martin counties; Pediatric Specialists of America, a nonprofit physician practice subsidiary; and an ambulatory surgery center. NCHS is the region’s only healthcare system exclusively for children.
