“Dr. de la Torre will be held accountable for his greed and the damage he has caused the American people and our nation’s healthcare system.”
Taking aim at Steward Health Care CEO Dr. Ralph de la Torre’s refusal to comply with a Senate subpoena, U.S. Sen. Bernie Sanders on Friday said the committee he chairs will still hold a hearing next week on the company’s bankruptcy and healthcare industry greed.
“Working with private equity vultures, Steward Health Care CEO Dr. Ralph de la Torre has made hundreds of millions of dollars ripping off patients and healthcare providers across the country,” said Sanders, who heads the Senate Committee on Health, Education, Labor, and Pensions (HELP).
“This outrageous display of corporate greed has resulted in more than 30 Steward hospitals in eight states being forced to declare bankruptcy, putting patients and communities at risk,” added the senator, who said the hearing is set to take place next Thursday at 10:00 am Eastern time.
“Ralph de la Torre has made hundreds of millions of dollars ripping off patients and health care providers across the country.”
Steward is trying to auction off all 31 of its hospitals in order to pay down its debt. As Common Dreamsreported, the HELP committee—which includes 10 Republicans—voted 20-1 in July to investigate Steward Health Care’s bankruptcy, and 16-4 to subpoena de la Torre.
“Dr. de la Torre will be held accountable for his greed and the damage he has caused the American people and our nation’s healthcare system,” Sanders said Friday. “Is it my hope that Dr. de la Torre will do the right thing, change his mind, and join our hearing to provide testimony? Yes. But let me be clear: With or without him, this hearing is going forward.”
“We will expose his fraud, and put his greed on display,” the senator added. “I look forward to hearing from patients, medical professionals, and community members whose lives have been upended by Dr. de la Torre and his private equity cronies.”
Another HELP committee member, Sen. Ed Markey (D-Mass.), and Sen. Elizabeth Warren (D-Mass.), who is a bankruptcy law expert, on Wednesday accused de la Torre of using Steward-owned hospitals “as his personal piggy bank.”
De la Torre—who according to Steward’s bankruptcy filing received more than $4 million in compensation between May 2023 and April 2024—has also come under fire for his 2021 purchase of a 190-foot megayacht believed to be worth around $40 million. That year, Steward’s owners paid themselves millions of dollars in dividends.
On Thursday, CBS Newsreported that in 2017 Steward executives including de la Torre illegally conspired with Maltese officials in order to secure a hospital contract, according to a whistleblower.
While a spokesperson for the executive denied any wrongdoing, whistleblower Ram Tumuluri alleged in a complaint to the U.S. Congress that “in touting Steward’s supposed competitive advantage in Malta… de la Torre boasted that he could issue ‘brown bags’ to government officials if necessary to close transactions.”
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