US EditionRegulations for Hospital Purchases by Private Equity Clears Pa. House
- Lawmakers and Governor Ned Lamont could not agree on a bill to regulate private equity ownership of hospitals and healthcare networks, despite ongoing negotiations until the session's last day.
- Governor Lamont expressed disappointment over the lack of a vote but favored increased transparency rather than restrictions on private equity ownership.
- Senator Jeff Gordon stated, 'This problem is not getting better; our hospitals have been decimated by this.'
- The Connecticut Hospital Association is concerned about the impact of private equity on financial struggles, with Senior Vice President Paul Kidwell emphasizing the need for protections and increased support for hospitals.
11 Articles
11 Articles
Doctor at now-closed ER issues warning about hospital buyouts
Max Cooper, a former emergency room doctor at the now-closed Crozer Hospital in Delaware County, spoke about the dangers of private equity firms purchasing hospitals and then shutting them down for profit. Prospect Medical Holdings, which closed four Delaware County hospitals in the last three years, purchased Corzer in July 2016 for $300 million. The company promised to keep the hospital open for 10 years, but closed it with very little warning…
Bill limiting private equity purchases of health care systems passes Pa. House
A bill that would place restrictions on private equity transactions involving health systems moved one step forward as state representatives passed the measure and it now moves to the state Senate. By a vote of 121 to 82 that included some Republicans, HB 1460 passed the House and now moves to the Senate, where previous versions have failed. Gov. Josh Shapiro came to Delaware County last month touting the legislation. Gov. Josh Shapiro outside o…
Lawmakers, governor can't agree on how to regulate private equity ownership of hospitals
Lawmakers and Gov. Ned Lamont are regrouping after they failed to agree on a bill to regulate private equity ownership of hospitals and healthcare networks. A bipartisan group of members of the legislature’s Public Health Committee said they were negotiating with Lamont (D-Connecticut) right up until the last day of session last Wednesday, but couldn’t reach an agreement. “I think...
The Herald
Regulations for hospital purchases by private equity clears Pa. House
HARRISBURG — The Pennsylvania House approved legislation expanding oversight of the attorney general into hospital mergers and acquisitions, a measure intended to prevent for-profit companies and private equity investors from gutting health care facilities and causing closures.
Reform bill on hospital mergers and acquisitions amended, in line for House vote
HARRISBURG — Lawmakers in the Pennsylvania House approved two amendments to legislation designed to enhance accountability when hospitals are purchased by for-profit companies backed by private equity.
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