Sick Profit: Investigating Private Equity’s Stealthy Takeover of Health Care Across Cities and Specialties
Private equity firms have shelled out almost $1 trillion to acquire nearly 8,000 health care businesses.
Private Equity ‘Gambit’ Squeezes Excessive ER Charges From Routine Births
Hospitals, boosted by private equity-backed staffing companies, have embraced a new idea: the obstetrics emergency department.
Private equity-backed Headlands Research heralded its covid-19 vaccine trials as a chance to boost participation among diverse populations, then it shuttered multiple sites that conducted them.
Investors are putting money into everything from emergency room obstetrics units and dermatology practices to nursing homes and hospice care — from cradle to grave.
Four Seasons Health Care collapsed after years of private equity investors rolling in one after another to buy its business, sell its real estate, and at times wrest multimillion-dollar profits from it through complex debt schemes. The deal-making failed to account for the true cost of senior care.
Investors are banking on increased demand in death care services as 73 million baby boomers near the end of their lives.
Two Missouri towns are without operating hospitals after private equity-backed Noble Health left both facilities mired in debt, lawsuits, and federal investigations. The hospitals’ new operator, Platinum Health, agreed to buy them in April for $2 and laid off the last employees in early September.
The U.S. Labor Department investigates Noble Health after former employees of its shuttered Missouri hospitals say the private equity-backed owner took money from their paychecks and then failed to fund their insurance coverage.
Private equity firms are seeing opportunities for profit in hospice care, once the domain of nonprofit organizations. The investment companies are transforming the industry — and might be jeopardizing patient care — in the process.
Noble Health swept into two small Missouri towns promising to save their hospitals. Instead, workers and vendors say it stopped paying bills and government inspectors found it put patients at risk. Within two years — after taking millions in federal covid relief and big administrative fees — it locked the doors.
At a moment when half of U.S. states stand poised to outlaw or sharply curtail abortion services, the nation’s most popular emergency contraception brand rests in the unlikely stewardship of two private equity firms.
Colorado lawmakers approved a measure that will make it easier for people to fix their power wheelchairs when they wear out or break down, but arcane regulations and manufacturers create high hurdles for nationwide reform.
An aging population in need of regular cancer screenings has driven private equity companies, seeking profits, to invest in many gastroenterology practices and set up aggressive billing practices. Steep prices on routine tests are one consequence for patients.
In his State of the Union address, President Joe Biden decried these financial arrangements, which two members of the powerful House Ways and Means Committee had already asked the Government Accountability Office to investigate.
Nearly all psychiatric residential treatment centers for children in South Carolina operate as for-profit businesses — some backed by private equity — and many prioritize out-of-state kids because it’s better for the bottom line. The scramble to secure treatment for children and teenagers has become so competitive that South Carolina will spend millions more each year as of April 1 to keep out-of-state patients from flooding the state’s treatment facilities.