Becker's Healthcare June 11, 2024
Massachusetts Sens. Elizabeth Warren and Ed Markey have introduced the Corporate Crimes Against Health Care Act of 2024 in an attempt to remove “corporate greed and private equity abuse” in healthcare.
In a June 11 joint press release, Ms. Warren and Mr. Markey shared how private equity fund assets have more than doubled, hitting $8.2 trillion in 2023 and pointed to how lax corporate transparency and accountability laws have allowed private equity to harm nursing homes, provider practices, hospitals and other healthcare entities.
Dallas-based Steward Health Care’s financial woes were also mentioned. The 31-hospital health system, which has facilities in Massachusetts, filed for bankruptcy on May 6 and is attempting to offload its hospitals and physician group, Stewardship Health.
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