CHRISTUS Health had been designated as the stalking horse bidder during auction process. The transaction remains subject to satisfaction of closing conditions, including receipt of necessary regulatory approvals.

 “We are pleased, through this transaction, to have ensured continuity of care for our patients and the communities we serve,” said John Castellano, Steward’s Chief Restructuring Officer. “We are also deeply appreciative of our dedicated employees who have continued to provide excellent patient care during this time of transition.”

Steward is represented by Weil, Gotshal & Manges LLP (Restructuring Counsel), McDermott Will & Emery LLP (Regulatory Counsel), Cain Brothers, a division of KeyBanc Capital Markets Inc. (Healthcare Investment Banker), Leerink Partners LLC (Healthcare Investment Banker), and AlixPartners, LLP (Financial Advisor).