Private equity expands in healthcare through nonprofit joint ventures
April 3, 2026
Private equity expands its reach in healthcare through joint ventures with nonprofit providers
Over the past several years, private equity has substantially expanded its presence across the healthcare system, buying up hospitals, nursing homes, doctors’ practices, ambulatory surgery centers, home health and hospice providers, and a variety of other healthcare companies.
At the same time, several large healthcare providers have gone bankrupt during or following private equity ownership, including Steward Health Care, Prospect Medical Holdings, and Genesis HealthCare.
Private equity firms have increasingly drawn scrutiny from federal andstate policymakers and regulators seeking to address private equity impacts on healthcare providers.
In addition to acquiring healthcare providers outright, private equity firms and private equity-owned healthcare companies have also sought to expand their presence by establishing joint ventures with nonprofit health systems and providers to own and operate a wide range of healthcare providers – including acute care hospitals, inpatient rehabilitation facilities, home health and hospice agencies, urgent care facilities, and others.
The Private Equity Stakeholder Project has built an initial list of hundreds of healthcare facilities operated by private equity joint ventures with nonprofit health systems and other healthcare companies.
In the coming months, we will be releasing research on private equity healthcare joint ventures and their impacts on healthcare costs, quality, and patients’ access to care.
If you are aware of additional private equity healthcare joint ventures or their impacts on patients, healthcare workers, and communities, please get in touch.
