Private equity firms put profits over patients, Senate panel says
January 14, 2025 by Susan Rupe
Private equity is putting profits over patients, a Senate Budget Committee report said as the panel looked into two private equity firms’ efforts to squeeze more money out of hospitals in underserved areas.
The Senate’s latest investigation unearthed thousands of documents detailing the financial maneuvers of two private equity firms: Leonard Green & Partners and Apollo Global Management.
The report stems from an inquiry by Sen. Chuck Grassley, R-Iowa, into private equity’s role in a series of patient sexual assaults by a nurse practitioner at an Iowa hospital, Ottumwa Regional Health Center. ORHC has been under PE ownership since 2010, when it was acquired by the PE-owned hospital operator RegionalCare, which was later acquired by Apollo. Global Management.
Wink’s Moore on the Market: Private equity is under the microscope.
See here, for the story of how one Iowa hospital was squeezed by PE.
Thank you Susan Rupe at InsuranceNewsNet. -sjm