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dossiers · Steward Health Care

Steward Health Care: legal identity, equity classes and control

The retained filings distinguish System, Holdings, Investors and MPT’s preferred investment. Different layers and dates must not be collapsed into a single current ownership percentage.

published
14 oct 2026
updated
15 oct 2026
records as of
14 oct 2026
entities
240
sources
121
cite entities.csv

1The legal entity and its registrations

analysisSteward Health Care System LLC (System) is the Delaware entity identified in the May 2024 bankruptcy petition by EIN 27-2473240. A retained Delaware certificate identifies company number 4801236. Its principal business address was in Dallas. Florida’s foreign-company record identifies registration M17000003154 and records revocation for failure to file an annual report on 25 September 2026.

Sources (8)

1 2 3 4 5 6 7 8

qualification
The Florida status concerns registration in that state; it does not by itself establish dissolution in Delaware. An earlier Florida filing uses “Systems” with the same EIN and registration number. The 2025 Florida entry spells the restructuring officer John J. Castellano, whereas the signed bankruptcy declaration says John R. Castellano; this discrepancy is retained rather than silently treated as a different person. A lapsed LEI registration is not evidence that the company ceased to exist.

2Common equity, preferred interests and ownership layers

analysisAt the May 2024 petition date, Steward Health Care Holdings LLC owned all of System. Non-debtors Steward Health Care Investors LLC and MPT Sycamore Opco LLC were disclosed as holding approximately 90.1% and 9.9% of Holdings respectively. The earlier 2020 financial statements instead describe Holdings’ 100 common units in System and MPT Sycamore’s 10.98779 preferred units. Those preferred units arose from $50 million and $100 million investments in 2016 and 2017.

Sources (8)

1 9 10 11 12 13 14 15

qualification
These are different dates, legal levels and classes of interest. The unit count must not be presented as an identical percentage of voting control. The 2024 declaration calls MPT’s interest passive and non-voting. Some subsidiaries had outside minority partners; a group relationship does not imply that every subsidiary was wholly owned. The 2024 Investors loan balance included interest, while its $363.3 million original principal was a separate measurement.

3The transfer to management control

analysisThe retained 2025 complaint describes a May 2020 management buyout in which Cerberus funds exchanged their interests for a $350 million convertible note. It says RDLT-SHCI Manager LLC became manager of Investors and that de la Torre controlled that manager. A November 2022 securities filing independently traces voting and disposition authority through Santa Clara Holdings, RDLT-SHCI Manager and RDLT-SHCI Investor to Investors and Sparta. It reports de la Torre’s beneficial ownership of 18,066,223 CareMax shares, or 16.3%, at that filing date.

Sources (5)

10 16 13 17 18

qualification
The complaint’s allegations of improper control and bad-faith distributions are not judicial findings. Beneficial voting authority over CareMax securities is not a direct ownership percentage in every company in the chain. A separate January 2021 letter concerns Steward Health Care International Investors LLC; its similar name is not grounds to merge it with Steward Health Care Investors LLC.
response
Cerberus says its note was an obligation of management and MPT affiliates, not the hospital operating company. De la Torre says the 2021 dividend was duly approved and partly offset his personal guarantee.

4Inactive registrations are not proof of dissolution

analysisThe Florida search records list several Steward hospital and holding registrations as inactive, including Florida Holdings, FMC, HH, Health Care Network, Melbourne, NSMC, PGH, Rockledge, Sebastian River, CGH and Emergency Physicians. The detailed Florida Holdings record gives document M17000001741, Delaware formation, and revocation for failure to file an annual report on 25 September 2026.

Sources (5)

19 20 21 22 23

qualification
Inactive foreign-registration status in Florida is not proof that the Delaware company was dissolved, that a successor hospital ceased operating, or that every subsidiary shared the same revocation date.
Sources (23)
  1. Company statement source · s-d4 identified by category only · Company statement
  2. Corporate registry concerning Steward or the identified proceeding Florida Division of Corporations
  3. Corporate registry source · s-d21 identified by category only · Corporate registry
  4. Corporate registry concerning Steward or the identified proceeding Florida Division of Corporations
  5. Corporate registry concerning Steward or the identified proceeding Florida Division of Corporations
  6. Corporate registry concerning Steward or the identified proceeding Florida Division of Corporations
  7. Corporate registry concerning Steward or the identified proceeding Florida Division of Corporations
  8. Other source · s-d55 identified by category only · Other
  9. Company statement concerning Steward or the identified proceeding U.S. Securities and Exchange Commission
  10. Company statement source · s-d14 identified by category only · Company statement
  11. Company statement source · s-d23 identified by category only · Company statement
  12. Corporate registry concerning Steward or the identified proceeding Florida Division of Corporations
  13. Company statement source · s-d28 identified by category only · Company statement
  14. Media source · s-d146 identified by category only · Media
  15. Company statement concerning Steward or the identified proceeding Commonwealth of Massachusetts
  16. Company statement concerning Steward or the identified proceeding U.S. Securities and Exchange Commission
  17. Media source · s-d148 identified by category only · Media
  18. Media source · s-d152 identified by category only · Media
  19. Corporate registry concerning Steward or the identified proceeding Florida Division of Corporations
  20. Corporate registry concerning Steward or the identified proceeding Florida Division of Corporations
  21. Corporate registry concerning Steward or the identified proceeding Florida Division of Corporations
  22. Corporate registry concerning Steward or the identified proceeding Florida Division of Corporations
  23. Corporate registry concerning Steward or the identified proceeding Florida Division of Corporations

Recorded connections

cite this dossier

DossierTwist, “Steward Health Care: ownership, bankruptcy and the disputed financial transfers”, dt.006, 14 October 2026 (updated 15 October 2026), https://dossiertwist.com/dossiers/steward-health-care/

Free to read, cite and republish with credit under CC BY 4.0: credit “DossierTwist” and link to the dossier.

Data: JSON, CSV and the network graph.

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