Find more information on the issues deeply affected by private equity investments:
PESP resources on Prospect Medical Holdings and Leonard Green & Partners for reporters and researchers Reports How Private Equity Raided Safety Net Hospitals and Left Communities Holding the Bag – November 29, 2022…
Private equity firms have become increasingly powerful players in Michigan’s economy, with nearly 9% of the state’s private sector workforce at private equity-controlled companies.[1] Backed by billions from institutional investors, including pension funds like the State…
Crozer Health, a safety net health system with hospitals in eastern Pennsylvania, is shuttering operations at its remaining two hospitals and various outpatient locations. It is laying off 2,651 workers.[1] Crozer’s parent company,…
The first quarter of 2025 saw a disproportionate number of large private equity bankruptcies. 7 out of 10 bankruptcies at companies with over $1 billion in liabilities were at companies owned by a private equity firm, despite private…
Joann, the fabric and craft store, was one of the many private equity-backed companies to file for bankruptcy in 2024.[1] In February, the company announced it would close all stores and lay off 19,000 employees.
PESP has released the Private Equity Bankruptcy Tracker A running list of U.S. bankruptcies connected to private equity Updated February 12, 2025 Key Findings Disproportionate Role in Bankruptcies Private equity firms played a role in 56% (27 of 48…
On January 7, the US Senate Budget Committee released the findings of a year-long investigation of private equity ownership of hospitals. The bipartisan effort was led by Senate Budget Committee Chairman Sheldon Whitehouse (D-RI) and Ranking Member Charles E.
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…
