Keckley Report November 22, 2021
The STAT headline last Tuesday read: “How America’s largest Catholic hospital system is moonlighting as a private equity firm” The news organization’s investigation involved “interviews with nearly two dozen academic experts, financial analysts, accountants, and community organizers and a review of more than 3,500 pages of financial disclosures, lawsuits, and previously undisclosed internal financial documents.”
STAT’s Rachel Cohrs wrote “Rather than passively investing in private equity funds, the practice of several major nonprofit hospitals, Ascension has over the past six years actively made investment decisions to play the private equity game itself, for profit. The investigation reveals how far a wealthy, religious, tax-exempt health system can migrate toward behaving like a Wall Street firm — and how little such a...
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