Find more information on the issues deeply affected by private equity investments:
As more workers petition to form unions, employers are turning to union avoidance firms and anti-union persuaders. Union busting firms use tactics like creating anti-union literature and holding captive audience meetings where workers are discouraged from…
Workers at Industrial Hana, a Guatemalan factory that produced garments for Lucky Brand, were left without a job or legally mandated severance pay when the factory suddenly shuttered in October 2023. Industrial Hana failed to pay$1.56 million in…
Senate Budget Committee chair, Sheldon Whitehouse (D-RI), and co-chair, Chuck Grassley (R-IA) have announced that they are launching a bipartisan investigation into the impacts of private equity ownership of hospitals. Alongside the announcement of the investigation, the Senators sent…
In CT and PA, the future remains uncertain for Prospect’s financially distressed hospitals and the communities they serve. Prospect Medical Holdings, a safety net hospital system with 16 hospitals across California, Connecticut, Pennsylvania, and Rhode Island,[1] is facing…
Private equity firm Prospect Medical Holdings Inc. (formally owned by PE firm Leonard Green & Partners) purchased a financially struggling hospital near Philadelphia with promises of restoring profitability and securing the community’s healthcare needs. However, after seven years, Delaware County…
In August 2023, CHG Healthcare Services, a medical staffing company, implemented a $530 dividend recapitalization.[1] This is the company’s sixth dividend recapitalization[2] since it was acquired by private equity firms Leonard Green and Partners and Ares…
Rhode Island Lt. Gov. Sabina Matos, a top contender in the 1st Congressional District race, is being scrutinized for her previous support of a healthcare transaction that potentially endangered the future of two local hospitals, according to…
Last month, Washington Monthly published a story looking closely at safety net hospitals and the private equity firms that own these facilities. Washington Monthly March 24, 2023: Private Equity and Its Hospitals…
Investment firm Cedar Health Group has acquired the former Nix Behavioral Health Hospital in San Antonio, which has sat vacant for three years after being shut down by its parent company Prospect Medical Holdings.[1] Prospect is a safety…
In the first month of 2023, two major private equity-owned behavioral health chains have announced closures and layoffs. Private equity-backed Delphi Behavioral Health Group disclosed in January, in compliance with the Worker Adjustment and Retraining Notification (WARN) Act, that it…
A Case Study on Leonard Green & Partners’ Ownership of Prospect Medical Holdings Prospect Medical Holdings is a safety net hospital system that was owned by private equity firm Leonard Green & Partners from 2010-2021. Over the course of…
Prospect Medical Holdings, a hospital chain that owned 17 hospitals in 5 states, has been under fire recently for causing irreparable harm to communities and workers for its hospital closures in Pennsylvania. The Private Equity…
