The for-profit hospital chain Steward Health Care System more than doubled its operating losses to $55 million in 2013, according to newly released financial documents.
Steward submitted its consolidated financial statements to state officials this week, resolving a dispute that began many months ago when the information was first requested. All of the state’s hospital operators must report financial numbers to the state.
“We are pleased to have resolved this matter,” said Brooke Thurston, Steward’s spokeswoman.
The documents, which include redactions of what Steward called proprietary information about non-hospital business, show the company made nearly $2.1 billion in revenue in 2013, up slightly from 2012. But it also lost more on operations -- $55 million, up from $22 million.
Steward, backed by the New York private equity firm Cerberus Capital Management, operates 10 hospitals in Eastern Massachusetts, many of them struggling. Its properties include St. Elizabeth’s Medical Center and Carney Hospital in Boston. In December, Steward shuttered the 196-bed Quincy Medical Center.
The state’s Center for Health Information and Analysis fined Steward in November for failing to turn in the financial documents, but Steward is disputing the $5,000 penalty.
“Our legal team is currently assessing CHIA’s options to ensure compliance,” spokesman Andrew Jackmauh said.
Related:
• Quincy says goodbye to hospital ‘up the hill’
• Quincy Medical Center seeks fiscal turnaround
• Rival assails state waiver for Steward Health Care
Priyanka Dayal McCluskey can be reached at priyanka.mccluskey@globe.com. Follow her on Twitter @priyanka_dayal.