Dallas-based Steward Health unloads division amid bankruptcy

Dallas-based Steward Health Care System is selling its managed-care businesses for $245 million, a deal that would keep its primary-care doctors separate from the bankrupt firm’s troubled hospital system. An affiliate of private investment firm Kinderhook Industries agreed to buy Steward Medical Group and Steward Health Care Network — collectively called Stewardship Health — outbidding lenders who had offered to cancel $225 million in debt in return for the managed-care business, according to court documents. Kinderhook’s Rural Healthcare Group plans to make significant investments in Stewardship’s infrastructure, according to a...