Formerly owned by a private equity firm, Steward Health Carefiledfor Chapter 11 bankruptcy in May 2024 in the largest hospital sector bankruptcy in several decades. The hospital operator was one of the largest private for-profit hospital operators in the U.S., with 31 hospitals ...
hospital bankruptcies and closures, surprise medical billing, and Medicare fraud. Patients have no indication of how PE ownership affects their care, nor can regulators conduct proper oversight."
A private equity fund is managed by a general partner (GP), typically the private equity firm that established the fund. The GP makes all of the fund's management decisions. It also contributes 1% to 3% of the fund's capital to ensure it hasskin in the game. In return, the GP earns...
Evidence shows that when a private equity firm takes over a hospital, the quality1 of care declines and costs2 for patients rise. Private equity ownership in healthcare also has harmful effects on medical education and the workforce, which is already suffering grave shortages in the US, ...
After weeks with no surgical date and no call back — and news of hospital operating-room closures and elective surgery cancellations — she put her mind to other options. Porteous acknowledges joint replacement surgery is not urgent the way that heart or cancer surger...
The coronavirus pandemic is all-consuming. Reports of the number of COVID-19 cases, the number of confirmed deaths and predictions of worsening conditions are terrifying. The widespread closures of schools, businesses and places of public accommodation are alarming. The short- and long-term economic...