Becker's Healthcare December 7, 2023
Iowa Sen. Chuck Grassley and Rhode Island Sen. Sheldon Whitehouse, ranking member and chair of the Senate Budget Committee, respectively, have launched an investigation into the effects of private equity ownership on hospitals.
The senators sent letters to the CEOs of private equity firms Apollo Global Management and Leonard Green & Partners, Brentwood, Tenn.-based Lifepoint Health, Birmingham, Ala.-based Medical Properties Trust and Culver City, Calif.-based Prospect Medical Holdings, as well as the CEO of Ottumwa (Iowa) Regional Health Center.
They argue that many hospitals experienced significant workforce cuts and reduced quality of care since coming under private equity ownership, and “have been stripped of valuable assets, including their real estate, leaving them saddled with debt,” according to a Dec. 6...
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