Senate Report Highlights Detrimental Impact of Private Equity on Hospitals

Politics

1 year ago

News sources:

Credited from: CBSNEWS

A **Senate Budget Committee** report harshly criticizes two **private equity firms** for undermining patient safety in underserved hospitals.
The report, based on extensive investigations, highlights **financial manipulations** by Leonard Green & Partners and Apollo Global Management.
Senators emphasize that these firms prioritize their **profits over patient health**, contributing to staffing shortages and hospital closures.
Investigation reveals significant evidence of **financial mismanagement**, including substantial **dividends to executives** while neglecting hospital care.
Concerns remain about **continued underinvestment** in rural health facilities, with implications for quality care and community access.

Read more at the original article: CBS News.