A dear friend sent me The Plundering of America’s Hospitals by Bethany McLean. It covers a lot of what private equity is doing in the healthcare industry. Interestingly enough, Veritext’s holding company, Leonard Green, is one of the private equity companies causing havoc.
The most interesting part of it all is the article notes at the end that even if Congress follows the money and investigates, there’s no belief that they’d be able to get the money back.
Therein it mentions at least one hospital, with about 700 jobs, might close.
So let’s recap. We’re dealing with people who are experts at saving bad investments through weakening the financial positions of companies, even where that’ll cause the quality of medical services to take a dive and possibly kill people or erase jobs.
They control the largest court reporting company.
What kind of damage might be possible?
