This is exactly what happened in Delco and why nearly 3,000 people lost their jobs, 4 hospitals closed, and patients lost their access to care.
We’re rebuilding our healthcare assets and moving forward, but this shouldn’t have been legal in the first place.
Especially if you're a private equity firm: if, say, PE buys a hospital through a leveraged buyout, the firm loads up the hospital with debt to fund the deal. When it comes time to pay the bill, private equity isn't on the hook for it—the hospital is.
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