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The Boston Globe

Business

Steward lost money in its first year, but complied with rules

Steward Health Care System lost money in its first year, but complied with conditions imposed by the state in 2010 when it recommended Steward be allowed to take over the six Caritas Christi Health Care hospitals, according to a report released Wednesday by the Massachusetts attorney general’s office.

The 70-page report looks at the Boston-based company’s compliance with its commitments — such as whether it retained employees, maintained services, and made capital improvements — as well as its market impact. But it covers only the fiscal year ending Sept. 30, 2011, and the eight hospitals and 1,840 physicians that were part of the health care system that year, making most of its data 16 months old.

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