Timeline for sale of Steward Health Care hospitals [Video]

Steward Health Care, the operator of the third largest hospital system in Massachusetts and one of the state’s largest employers, is aiming to sell its Massachusetts hospitals before the end of June, but the company’s lawyer said that timeline may be aggressive.The Texas-based company declared bankruptcy on Monday, seeking legal protection to restructure its debt while leaving its hospitals open.A virtual hearing in federal bankruptcy court was held on Tuesday morning, the start of a months-long process that Massachusetts government leaders hope provide some transparency into the troubled company’s finances.The for-profit, private equity-backed hospital group’s troubles exploded into view this year with the revelation that it owed about $50 million in unpaid rent. Steward officials subsequently closed one facility and have expressed interest in selling their other holdings.According to Reuters, in court documents filed before the hearing, Steward said it had over $9 billion in total liabilities, including $1.2 billion …