A bipartisan Senate inquiry into private equity ownership of healthcare facilities believes that this results in a 'business model that places profits before provider retention and patient safety,' according to a letter from the Senate Committee on the Budget to chief executives at PE firms Leonard Green & Partners, Prospect Medical Holdings, and the REIT Medical Properties Trust.
The letter was one of a number sent to a set of private equity firms with significant healthcare holdings. Other PE firms receiving letters were Apollo Global Management, Lifepoint Health, and Ottumwa Regional Health Center.
Signing the letters were committee chairman Sen. Sheldon Whitehouse (D-RI) and ranking member Chuck Grassley (R-IA).
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