Find more information on the issues deeply affected by private equity investments:
Prospect Closures and Layoffs are Legacy of Private Equity Ownership 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 the past two years, Kohl’s has been embroiled in proxy fights with the hedge fund Macellum Advisors. Macellum proposed an alternate slate of directors before the 2022 Annual Meeting, and…
Last week Kohl’s shareholders rejected a bid from activist investors to take over the board, voting to leave the company’s board of directors intact. Earlier this year private equity firms Sycamore Partners and Leonard Green & Partners made offers…
Private Equity Stakeholder Project Jim Baker was a recent guest on Nick Hanauer’s Pitchfork Economics podcast. Pitchfork Economics’ host Hanauer interviews economic and political thinkers in an exploration of society’s growing inequality. Baker explained the private equity’s growth and the…
Reporting on a Pennsylvania four-hospital system’s risk of collapse, WHYY noted that asking that he “decline to approve Prospect Medical Holdings’ proposed change of ownership until Leonard Green & Partners returns the fees and dividends it collected from Prospect.” WHYY…
United for Respect, Private Equity Stakeholder Project, and Americans for Financial Reform today announced that they had sent the below letter to Kohl’s Corporation’s (NYSE: KSS) Board of Directors and Investors. The groups urged the board and…
Large private equity firms have continued to leave a major economic footprint in the healthcare industry. Since 2009, private equity investment in healthcare has outpaced the rate of private equity investments in general. According to data provider Pitchbook, investment in…
The State of Massachusetts is suing private-equity-owned Aspen Dental Management for deceptive practices, alleging that the company has “has cheated thousands of Massachusetts consumers through a series of bait and switch dental advertising campaigns in a variety of media,…
The Philadelphia Inquirer in February reported on Prospect Medical Holdings’ agreement to sell financially troubled Crozer Health after making deep cuts to staffing. The Philadelphia Inquirer, February 10, 2022: Prospect Medical has preliminary deal to sell Crozer Health The…
Following a National Bureau of Economic Research study that found a 10 percent increased mortality rate of patients at private equity-owned nursing homes, U.S. Representative Pramila Jayapal earlier this month introduced the Healthcare Ownership Transparency Act, which will…
In 2021, private equity firms extracted a record-breaking $34.9 billion in debt-funded dividends from companies they own,[1] including dividends from US healthcare companies. Dividend recapitalizations are transactions by which private equity firms load debt onto companies they own…
Peggy Malone, RN, has been a nurse for 32 years, all of them at the Crozer-Chester Medical Center in Upland PA. She testified at the October 20, 2021, U.S. Senate Committee on Banking, Housing and Urban Affairs hearing “Protecting…
