Steward Health has announced on Monday that it along with its current leaders has secured a $150 million loan, which will give the company the opportunity to reorganize.

This comes as Steward faces lawsuits, which allege unpaid bills at sites such as Trumbull Regional Hospital. According to Businesswire, the loan is part of a six-point action plan that will enable the organization to emerge as a sustainable business and move into its next operational phase.

Businesswire reports that the $150 million infusion will provide additional liquidity allowing Steward to reset its operations and address vendor obligations.

As part of the agreement, the lenders have provided an additional "vote of confidence" in this plan, increasing their financial commitment to Steward, as well as extending their forbearance agreement through April 30 to give Steward time to execute this plan.

According to Businesswire, Steward's clinicians and staff are its primary "asset."

In order to maintain staffing and levels of care, Steward has negotiated new labor agreements with Massachusetts Nursing Association and Service Employees International Union to secure and maintain its pension plan.

The company has also instituted a plan to attract nursing employees to work at its busiest hospitals and offered "referral fees" to current employees of up to $40,000 per hired employee.

According to Businesswire, Steward is in the process of selling "non-essential assets" such as Steward-owned aviation and downsizing its non-patient footprint through back office consolidations.

21 News is working to learn what exactly Steward's "non-essential assets" are.

You can read more about Steward's current financial situation in our related coverage below.