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Last month, Eileen O’Grady, PESP healthcare director, testified before a field subcommittee of the U.S. Senate Health, Education, Labor and Pensions (HELP) Committee. The focus of the hearing was “When Health Care Becomes Wealth Care: How Corporate Greed Puts…
Corporate landlords have a large amount of control over the US housing market. [1] This places them in a unique position of having enough power to impact the class and racial makeups of certain communities.
Each month, PESP’s Healthcare Team will be putting together a roundup that shares the latest news stories related to private equity in healthcare and highlights the work that our team has published in the last month. In the news…
On April 23, New York State Comptroller Thomas P. DiNapoli, trustee of the New York State Common Retirement Fund, announced the fund’s adoption of a Responsible Workforce Management Policy and Principles for its…
On March 15, Minnesota Attorney General Keith Ellison announced that he reached a settlement with Progress Residential, HavenBrook Homes, and related companies for his February 2022 lawsuit.[1] The lawsuit alleged that the “syndicate of corporations”[2] under-maintained…
In light of continued investor interest in healthcare and the risks associated with private equity ownership of healthcare companies, the Private Equity Stakeholder Project is tracking private equity-backed healthcare acquisitions. Below is a list of private equity healthcare buyouts,…
Private equity firm Platinum Equity owns prison and jail telecom contractor Aventiv Technologies (formerly Securus). The largest and one of the most predatory providers of phone and communications services to U.S. jails, prisons, and detention centers, Aventiv relentlessly preys upon incarcerated people…
A Business Insider story profiled multiple hospitals that have closed in recent years. The hospitals in question, all struggling financially, had three key things in common. Firstly, they served economically disadvantaged communities with limited healthcare access. Secondly, these hospitals…
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A piece in Popular Information contrasts recent reporting on a so-called “explosion” in squatting cases with the very real affordable housing crisis plaguing tenants across the United States. Popular Information, March 26, 2024:…
In 2023, a surge in bankruptcies hit the healthcare sector, sending shockwaves through critical services across the nation. Today, the Private Equity Stakeholder Project (PESP) reveals alarming data in its latest report, “Private Equity Healthcare Bankruptcies…
Key Points 2023 saw a wave of bankruptcies at private equity-owned companies. At least 17 (21%) of the 80 healthcare companies that filed for bankruptcy in 2023 were owned by private equity firms. Another wave of PE-driven healthcare bankruptcies is…
