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Private Equity in Healthcare – PESP’s November 2023 Roundup

December 1, 2023

Each month, PESP’s Healthcare Team will be putting together a roundup of 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

Ban on Surprise Medical Bills Pushes More Health Bonds to BrinkBloomberg

  • After the No Surprises Act (a federal law to curb surprise medical bills in the US) triggered a handful of the year’s biggest bankruptcies, Bloomberg reports that “investors are eyeing corporate-debt piles for potential pain ahead.” KKR’s Global Medical Response, Blackstone’s TeamHealth, and Whistler Capital’s Radiology Partners are among the companies with hefty payments coming due.

3 adult day cares in southern New Hampshire closing, leaving families scrambling to find optionsWMUR

CMS finalizes transparency rule targeting REITs, private equity ownersMcKnight’s

  • The Centers for Medicare & Medicaid Service (CMS) issued a new rule today that requires nursing homes to report more details about their ownership structure and type, including whether they are PE-owned. In a fact sheet on the rule published this morning, CMS officials said the agency had become “increasingly concerned about the quality of care at nursing homes, especially those owned by private equity companies and other types of investment firms.”

Private equity-backed Texas company seeks to reopen behavioral health beds in JacksonMississippi Today

  • Behavioral health company Oceans Healthcare, which is owned by Webster Equity Partners, is seeking to reopen St. Dominic Memorial Hospital’s psychiatric unit in Jackson, MS. PESP’s Eileen O’Grady is cited: “O’Grady said while it’s generally a good thing that more behavioral health beds could open in Jackson, she is wary of any private-equity owned organization getting involved in behavioral health care.”

Private equity raises bets on Botox-dealing medspasPitchbook

  • Private equity interest in the delivery of Botox injections, laser hair removal and specialized facials across the US is growing rapidly as the medspa industry matures and investors recognize those services have become habits for many consumers.

FTC Chief Gears Up for a Showdown With Private Equity – KFF Health News

  • Federal Trade Commission Chair Lina Khan confirmed in an interview that her agency wants to send a message with its suit against U.S. Anesthesia Partners and its PE owner, Welsh, Carson, Anderson & Stowe. According to Khan, Welsh Carson and USAP “bought up the largest anesthesiology practices, then jacked up prices and entered into price-setting and market-allocation schemes. This action puts the market on notice that we will scrutinize roll-up schemes.”

Healthcare team’s latest blogs, reports, and media mentions 

REPORT: Private Equity In Durable Medical Equipment: How Private Equity Profits Off of Disabled and Chronically Ill Americans

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