Private equity looted 3 Connecticut hospitals. Services cut, nurses buying their own supplies etc. They will do it to your hospital if we don't stop this trend right now. 1/ Today I'm releasing a report on the truth about private equity in health care. tinyurl.com/adangerousprospect
2/ In 2016, private equity backed Prospect Medical Holdings bought three cash-strapped hospitals in Connecticut with the promise they'd invest in upgrades. The plan was to shore up the hospitals so they could offer better care for patients. It was sold as a win-win. They lied.
3/ Instead, private equity deployed the “buy, strip, flip” playbook. It’s exactly as destructive as it sounds. Buy a vulnerable hospital. Strip it of staff, services and assets - scam and squeeze every dollar possible out of patients. Flip whatever’s left for a big payout.
4/ The impact was devastating. No doctors on overnight shifts. Basic medical supplies ran out. Ceilings were falling and elevators stopped working. More patients experienced complications. The staff were heroic in trying to patch together good care.
5/ The nurses, doctors, and hospital staff continued providing the best care possible as Prospect starved them of resources. Some even bought supplies and food for patients out of their own pocket when Prospect refused to pay the vendors. But it was a losing battle.
Private Equity can’t heal your ailments. Their ghoulish practices have no place in real estate, healthcare or education.
6/ Meanwhile, their private equity bosses were cashing out. They borrowed $457 million to give a payout to shareholders. One CEO made so much money, he owned two luxury mansions in LA just 11 minutes away from each other. Then they just divested and walked away.
7/ But the hospitals? They're bankrupt now. The patients they serve have nowhere else to go. Most private equity firms don't care about providing good health care. They care about making $$ and they're willing to devastate communities to turn a profit. We shouldn’t let them.
How many of society’s problems today are funded by private equity?
Read 'Bad Company' by Megan Greenwell.. almost all the bad things that happened to Retail.. PE.
Thank you. I downloaded the audio today.
8/ That’s why I put out this report. Private equity is already coming for clinics and nursing homes. Lawmakers at every level must act before they get their hands on every part of our health care system. Read more: tinyurl.com/adangerousprospect
Too bad some elected leaders don't DO SOMETHING about it. Get new leadership to start.
www.bostonglobe.com/2025/07/17/m... Same story in Massachusetts
Thank you Senator Murphy. The US has lost its way in allowing this socially damaging behavior. When you have many many people disadvantaged by something, and a tiny minority profiting from it, there's no reason it should be legal. I'm not even slightly anti-capitalist. But all systems need controls.
Look at what Prospect Medical Holdings did to Delaware County, Pennsylvania.
Did they own Crozier?
Yes. They owned Crozer
They are literally trickling us down to the grave.
It’s legalized robbery.
Private Equity Firms Should Work To Benefit Society, Not Just Their Investors, Partners, and Shareholders !!
Every one of those CEO’s needs to be in prison for making money off the back of working ppl’s health. Their is by far to many CEO’s that give no crap about the consumers that have to purchase their shit and make them all that damn money!
Private equity destroys everything it touches. Toss it all.
Private equity bought a couple urology practices in Tucson. They folded and now we wait months to have kidney stones removed.
@skyview.social Please unroll. Thank you.
Worse and worse. Register DEMOCRATIC!
They just did the same thing to Crozer Health System in the Philadelphia suburbs, leaving a health care desert in the City of Chester and Delaware County.
Time to PASS LAWS.
This absolutely needs to be illegal. Health care is one of those things that should be a service and not "for profit."
This is incredibly sad. I was born at Manchester Hospital and the folks at Rockville Hospital saved my life. I would not be here if not for either of those institutions.
After you read Chris Murphy's report, please read this book! I worked in labs of 2 hospitals in the Life Point system (Danville, VA & Beckley, WV) before private equity sunk its predatory hooks into it. blogs.cfainstitute.org/investor/202...
Typical Trump
Buying food for patients? Thank you for your hard work senator
My understanding is that business collusion is illegal. The organized and coordinated purchase of industries to control the market was outlawed in the early 20th century. What changed that?
Wld appreciate a report on private equity in home rentals too. Same thing: buy cheap property; jack up rents to where ppl have to move out but there's no place to go b/c pvt equity has jacked up rents. No property improvements; treat tenants like shit and then force them out. Regulate them to max.
They’re basically car-jackers.
Good analogy!!
I'm glad you're shining a light on something that would easily escape scrutiny. This is important even in light of everything else going on.
This applies to veterinary hospitals as well.
What is Chris Murphy going to do Abt this Israeli official caught by FBI on a sting operation where this official was trying to have sex w an underage girl in our soil and no outrage ,no reporting by MSM and no comments from both parties. Democrats or Republicans.
The legacy media & the MSM blackout this Israeli official on US soil seeking under age children to have sex w &the entire US syst once again refuse to report crimes by Israeli in our cntry. Bth parties do this for all the richest ppl & Israel all the time while we get f by Congress.
WHY ISN'T THIS SHIT ILLEGAL MAKE IT ILLEGAL AND KILL CITIZENS UNITED WHILE YOU'RE AT IT
I have been worried about this for a long time. Keep private equity out of health care. This is where the true death panels will come from - private equity.
Trump’s bill already creating death panels. ldi.upenn.edu/our-work/res...
They don’t care who they murder.
Private equity ruins every business it touches.
How can they be stopped? We seem the most corrupt nation in the world. Americans make money by destroying instead of creating.
They call it vulture capitalism for a reason.
Can we force PE to buy law offices instead of hospitals?
They're too busy buying politicians
well, what are you going to do about it?
Stop voting for people who embrace corruption for starters.
Where did Mnuchin disappear to?
Private equity companies are in the business of making money. They’ll purchase a company and bleed it dry until there’s nothing left but bones. Then they’ll find some sucker to take it off their hands. In the end it’s the people who end up getting screwed.
They’re leeches.
If no one can afford health care or insurance, how do these companies make money? When millions of people are thrown off their healthcare plans, that means millions are not paying premiums to these companies. Again, how do they make money when no one is paying them?
That's what they do; doesn't matter if it is a hospital or something else.
The Romney / Bain capital model: Load them up with debt paid to the VC 'management' company, then declare bankruptcy, screwing the vendors and sticking the pension plan on PBGC ( taxpayers ! ). All 'perfectly legal' !
It's legalized theft & destruction, whether they do it to hospitals or retail businesses. Tie in the "banks" that knowingly give them huge loans to aquire assets they intend to destroy & it's conspiracy. Why hasn't this been made illegal? Class action suits?
Seems like the loan was under false pretense. They should be personally responsible
We're also going to see religious organizations buying up more hospitals. They're already all over the place, and since they're private, they don't have to treat issues/humans they "don't like." So many people are about to have literally no where to get healthcare 💔😡
We lost our community hospital, Carney Hospital in Dorchester, MA, due to the horrific mismanagement of the for-profit Steward Healthcare. Still waiting for justice for their CEO. Solidarity!
corporations don't care #EndCitizenUnited #AbolishTheEC
Julia Roberts tried to warn us.
Capitalism eventually destroys everything of value.
Yes. If the private sector does best for everything like the conservative capitalists insist then they should allow for a public option.
Exactly. We, the People, created a publicly funded healthcare financial system that has operated for decades, Medicare/Medicaid. There is no reason there can't be a buy-in offered to the People, by the People. Good healthcare is in the interest of all of us. Only greed thinks otherwise.
It's the root of all evil 😈
...encompassing all 7 deadly sins.
It's the Mitt Romney playbook they follow.
Private profit must be removed from every aspect of healthcare
Mitt Romney's true religion: The Cult of Mammon.
These ppl should be seeing the inside of courtrooms as defendants. Unless some are held CRIMINALLY liable for actions like this it won’t stop. Similar to HCA & infamous Sen Rick Scott, aka 5th Amendment Scott. www.rollingstone.com/politics/pol...
Effers
What's the name of this private equity thats murdering people ??
They also created a healthcare desert in a Philadelphia suburb resulting in the closing of 3 hospitals in Delaware County. Vultures
If a Grand Old Nazi party member's mouth is moving, IT IS LYING.
The problem with Congress is, Let’s encourage “innovation” and immoral characters to flood the market and ask questions later. Rinse and repeat. By the time the public catches on, substantial if not irreversible damage has been done.
GOOD revealing what private equity is & how it has changed corps ownership in America is the real story. It's not just hospitals. It's every sector in the 80s it was just a few ultra wealthy on their own damaging corps, now they group their money together. It's time for Private Equity REGULATIONS
It's the republican way steal steal steal
It sickens me.
Vote every republican out. EVERY LAST ONE.
Woohoo yay capitalism
Has there EVER been a better case for Universal Healthcare and non- profit hospitals?
"Bwaaa haha you really duped em with that "affordable" health care nonsense. Right?"
They've done it in Oregon. The only primary care providers now available in my community are physician assistants and nurse practitioners. Trying to see an internal medicine provider or specialist is nearly impossible.
Hospice care groups & veterinarian offices are going, too Hospice care was too obviously after profits. Worst time to have to deal with their crap
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They (Prospect and all the practices that ran under them) also got hacked and my doctor could not access my records for WEEKS. They were operating blind.
The only solution is to rid the world of billionaires once and for all! I can guarantee that every single one has committed crimes. So, hold them accountable! Freeze their assets while on trial. Then, redistribute them to the bottom 90% once their in prison. 1/2
Afterwards, pass laws to ensure billionaires never exist again. Break all existing monopolies; and there are numerous. Ensure that no business is ever too big to fail! Pass laws for the public funding of all elections. No districts. Popular vote only at all levels. 2/2
It would be fantastic if your report had any effect whatsoever on PE in healthcare. But let’s not pretend that it will. Not until your fellow lawmakers and party leadership is no longer beholden to PE will this go anywhere.
That’s a #FACT. We must have new Leadership in order to move forward.
Not just leadership.
FACT
Private equity is a scourge ‼️‼️
Um the gov will bail them out CEO have no worries.
How has the private equity scam continued to persist? Like privatization, I’ve never seen ONE example of it creating a positive outcome for anyone but investors.
Thank you Senator.
We need to ban profiteering from public services like hospitals. The only winners are the rich when it happens.
#ReleaseTrumpEpsteinFiles
They just killed two essential hospitals in Delaware County in Pa. Two!!!
Blackrock is buying up power companies now. We are in deep trouble.
They did it to our local hospital in central Massachusetts . Now we don't have one. People need to drive a long way to get medical care at hospitals which are becoming overwhelmed
Privatisation is theft.
Pretty soon we'll have to bring our own caregivers, meds and supplies with us to the hospital. DIY surgery could be next.
The billionaires are out of control. They have to be taxed out of control.
Private equity needs to be banned. They destroy everything they touch and get rich doing it. It is a big part of why we have a budding oligarchy in this country.
All healthcare should be nonprofit
Private equity in housing has already caused the housing crisis. Private schools open the door to private equity in education.
🙏🏼✅️🩺🔍⚕️🥼 GO! drassassociates.com/perpending-p...
They just bought Suma hospital in Akron which is one of the area’s largest employers. Nothing good happens when vulture capitalists take over. Healthcare should never be for profit.
This is Trump land. #TrumpIsCorrupt #TaxTheRich
Private equity should be fucking illegal!!
Until you abolish profit driven medicine, this will only worsen.
Why don't the so-called representatives take the Bernie Sanders Medicare For All policy and shove it down all your colleagues' corrupt throats to do good instead of just perpetuating this evil
Medicare for all wouldn’t fix hospital ownership issues, like the private equity issue.
Same in Italy, FWIW. They’re slowly strangling NHS through a careful orchestration of layoffs, funding cuts, programmed inefficiencies, artificial scarcity. As a result pationts have to resort to private clinics, or suffer and die prematurely. #VultureCapitalism
Private equity (PE) firms can do significant damage when they buy out a business through a variety of financial and operational tactics designed to extract short-term value, often at the expense of the company’s long-term health, workers, and communities Outright fucking theft! ⛔private equity🛑it!
They also destroy brands
This should be illegal - private equity has no business being in the healthcare business. If only there was a group of people who could do something about this……
Private equity = vampire
Yes! Private equity firms should have nothing to do with healthcare or any type of public service. The focus is profits over quality. Not good for anyone but the profiteers.
They are ending the scam of health insurance and hospital bills. How will the people replace it though? I'm interested. People over profits this time.
I doesn't matter what the industry is the private equity firms get involved in, the focus is profits. Period. Then dump debt onto someone else and get out.
NOTHING in healthcare should be for profit. EVER. A persons life is not there for shareholders to profit.
For profit healthcare is not about healthcare. It is only about profits. Healthcare is a human right. Thank you for bringing attention to what should be a crime.
This is immoral and unfortunately, many struggling hospitals will suffer this fate. I’m not holding my breathe for anything to be done about during this regime, but thank you for putting this out & making sure we know the facts.
Thank you for your report, but we all already know this. What are you going to do about it?
Private equity takeover of critical public services is always “vulture capitalism.” No one can point to a single exception.
PE is how oligarchy grows inside capitalism (probably).
One of the many, many ways…
Good place to point out that you (reading this) are unlikely to be able to invest in any sort if PE. You typically need a net worth over $250k, I believe without home equity but that may be wrong. Without that you’re not allowed, so you can’t participate in those decisions directly affecting you.
Free Public Hospitals. Why do we run privatized colonoscopy casinos? Who the hell wants money from someone infected with MRSA? All transactions should be between Hospitals, the government, and insurance companies. Abolish co-pays Free public transportation. Free public schools. Free public colleges
I’m very worried about my district in northern New York.
Semi-related: I worked in a small network hospital that was in a bidding war with a larger hospital network over an ambulance company. The larger network outbid the small one so they wouldn't be competition and they could get more patients to make more money for investors.
Private equity CEOs should be the next ones to be Luigied. They have been the scourge of America for decades.
They did it to the housing market too...
#medicareforallwhowantit
The Democratic Party is dead. Time to elect new blood to change course. Congress has the best free healthcare in the world, and they want to tell us how we are getting screwed when we live it everyday. How much blood money have you taken over the years? We are not MAGA
No shit, so what exactly would you like us to do with this useless information. My god the deafness of the Democrats is astounding. Hope every one of you are premièred. Do you think the Party is innocent is all this? Think again.
sad. greedy corps are heartless and care for no one. - just money.
Hear, hear-- private equity buyouts kill-- usually, just profitable businesses like Toys R Us, or Red Lobster-- and damage the live of employees who work there, but literally, in the case of hospitals. Such buyouts are as harmful as the Republicans' 'Big Bill'.
Have Americans figured out yet that "Self-regulating free markets" are unaffordable and unsustainable for the country, the people, the markets?
It's a religious death cult. We have to have faith in the cult leaders and drink the fruit punch.
Ruining medicine one practice at a time.
Woe to the rich
There's a very large orthopedic group where I live. They used to be physician-owned. They were sold to a hedge fund, people who know nothing about medicine.
The bill recently signed into law by President 47 is the largest redistribution of wealth in US history. It is also the biggest sellout of the public in history, brought to you by the “Compliant Cowards” of the GOP. youtu.be/u_pNVKkMdEU?...
We need to return to a time when doctors could own hospitals and could protect patients from harm like this
Sounds so Republican. Profits over lives. They can afford personal doctors. Rinse. Repeat. Too late Chris!
We need nonprofit HMO’s. It is a system where patients typically get care from a network of Dr’s/hospitals, with costs managed through pre-arranged fees. A nonprofit goal isn’t to maximize shareholder profit but to invest any surplus into improving care, lowering costs, or expanding access.
Success would depend on local leadership, patient enrollment, and government support.
chatgpt.com/share/68a5d3...
The only question is why people hate immigrants instead of private equity, megacorporations, and billionaires. Have they not eyes to see?
Thank you.
Private equity: the robber barons of the 21st century.
Our CT dental office deteriorated recently. High turnover, odd billing, hard to get an appointment. Then they left me hanging with an abscessed tooth in June no longer doing complex work. (PE consolidation as it turned out) We found a private dentist. Better work, easier to get in & much cheaper.
See also: Late stage capitalism and market capture. We are at the point where pretty much everything we need, food, shelter, health care has been commodified to give the top players most of the cut while everything continues to get worse for people just trying to work/live.
No hospitals no health insurance profits. There is your picket sign protestors. Remind the capitalists of their inconsistancies.
CT should seize the hospitals and run them themselves.
profit taking has NO place in healthcare.
Things thst should never be run for profit: 1. Healthcare 2. Education 3. Prisons 4. Government services 5. Government
6. Food and housing for the poor
📌 #pin
@chrismurphyct.bsky.social thank you for continuing to do the good work that the people of CT elected you to do, even in the midst of this chaos. I pray we get to a day where the “party before country” political games stop distracting our leaders so they can do good work like this.
If capitalism is so efficient, why are there so many people between you and your doctor?
Capitalism is faith-based and lazy.
Because the US healthcare system (healthcare business) is completely controlled and manipulated by the government. Basically, a nationwide mafia. It has all the disadvantages of both a private and public system, and none of the advantages of both. Real capitalism has nothing to do it.
The US healthcare system is a hybrid model, with both public and private entities playing significant roles. Private insurance remains the dominant form of coverage, primarily provided by employers. The federal government also plays a substantial role in funding Medicare and Medicaid.
Bullshit. Total.
Please look at Romney's Bain Capital for past patterns that will help guide you in who or what to trust today. It was called "The Company Killer".
When we have Elites in our society who have enough fun money to send celebrities into space, we should without question have money for free, universal healthcare, free universal basic income, free meals for children, seniors and the vulnerable, and free housing for the homeless
Tax those bastards!!!
The infuriating part is we literally have the resources to do both, with more left over. They just like lording over everyone
Exactly right, scarcity is a myth and there is no excuse for it
You're goddamn right.
Thank you. Private Equity is like a swarm of locusts…ravaging our cherished and vital services. We have to protect our communities from them and their insatiable immoral greed.
Thank you for your leadership, Senator Murphy. We need your as Senate Democratic Leader right now.
I second that!
Private Equity Parasites Predators Should be banned and jailed
Thank you!!! People need to understand that Private Equity is ruining our country and we need laws, CONGRESS, to black them - from restaurants, from toy stores, from fabric shops, from dental clunics, from hardware stores, from the rental market, from hospitals, from health clinics, etc..
Laws needed to BLOCK them!!
Thank you, Senator, I'm a nurse assistant at this company. The "big beautiful bill" will make a bad situation worse. I fear for our our residents. 🙏 As investors pour in, for-profit nursing homes leave some seniors in need | (6/3/24) 🚨 @cbs-mornings.bsky.social www.cbsnews.com/news/for-pro...
Well that’s scary my husband is in an assisted living a needs a higher level of care. I am looking at nursing homes in my area for him. All are for profit. One is absolutely gorgeous but I know it can be smoke and mirrors. This article and the future w the Big Ugly Bill is very concerning.
Check the memory care unit if you really want to see the quality of care.
Who can afford that? My mom had Alzheimer's Disease and the memory care was over $5k monthly in SE Michigan. That was at the non-profit place.
Great advice!
Also look to state inspection reports
Please don't forget Steward Health and that thief Ralph De la Torre.
They are already doing this in Spokane Washington, at Sacred Heart
Private equity can only do what the law allows them to do. (An argument I’ve heard many times from folks in that field). So we must now change the law to stop this type of piracy and greed based pillaging.
I would argue that private equity should be stopped in all sectors. It's also what caused JoAnn fabrics to fail and it's what is currently destroying Southwest Airlines. Healthcare is an even scarier place for it to happen but even in these other sectors it leaves customers without services
This sounds like the less cute version of St. Elsewhere
Same in MA
This happened in PA, Delaware county. Now there's a huge gaping hole where healthcare used to be
Oh Senator Murphy - you’re a gift to us all to be calling out this very dangerous issue of PE in healthcare This issue has not been getting enough attention and it needs to be stopped Society suffers when “value extraction” by PE ravages our healthcare system This is the true American carnage
@drianweissman.bsky.social
@realalexcole.bsky.social
Mercers are all over the place, especially the AI programs installed
Our country really sucks - but I don’t want it to. The callous greed has to be stopped- let’s be happy and safe again, like Finland.
Prospect did the same thing here in PA outside Philadelphia. Taylor and Crozer hospitals are vacant they left millions in unpaid taxes and destroyed local medical services. They made millions.
Private equity is destructive and sucks the life out of every business that has any potential.
bsky.app/profile/thet...
Why not say “now is the time” for universal healthcare? Stop this trend right now?
100. Its because hes full of shit.
Nurses need to just massively start their own clinics, do pop-ups, and mobile. NPs can scribe, and we can 1099 docs for a good gig. Make them non-profit reinvest in healthcare workers and ramping up. Buck this system. There is a way. Keep hospitals only need for emergencies and stays.
Nurses need to just leave and start their own clinics. Fuck them
How much profit is enough for these profit addicts? "Growth for the sake of growth is the ideology of a cancer cell." Eventually, it will kill its host.
Regulate the ever loving hell out of private equity when you get back in power. It’s a scourge on America, and the world.
You're so right Senator Murphy, private equity is a plague on healthcare. Noticed this deal going through last year--29 nursing homes all in one region sold to PE firms. There's no going to the next town to find something better. iowacapitaldispatch.com/2024/10/21/p...
The government is so inept…that private equity must take over…. WORST ASPECT OF LIVING AND WORKING IN AMERICA Under the GQP, private equity is coming for: Hospitals Prisons Social Security Housing Food Schools Utilities Transportation …and so on. They won’t stop squeezing workers for profit!
And squeezing the people who use those services!
It’s not inept, it’s a plan to gut and then grift. It’s pure theft.
The marketing of privatization to the USA taxpayer & citizens has been the most DEVASTATING economic platform, destroying generational wealth & SHARED PROSPERITY the regressive tax structures were meant to build. THE underlying THOROUGHFARE dressed up to part a majority with their $$$-get the libs!
^this!!
You forgot the Post Office. Republicans first defund the Government Agency. Then claim it's broken when it doesn't work properly. Then they claim it should be closed down and done as a private entity. Rinse and Repeat for said Agency.
Private equity only cares about money and has no problem killing us to squeeze out every cent.
They’ve done the same thing to two hospitals in RI. Private equity is a cancer on society. The sooner they are excised, the better for us all.
Equity and Health in the same sentence can only produce one result (and it's not health).
Jfc, just implement universal healthcare already like a civilized country .
That, and also, private equity is pure evil and needs to be destroyed.
Thank trump too
Companies like this is the fraud trump pretends to care about but do nothing . Is this a good time to mention Rick Scott ?
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Thank you for pointing this out and fighting it Chris. We badly need a public option in healthcare.
@schiff.senate.gov @wyden.senate.gov @hakeem-jeffries.bsky.social @aoc.bsky.social @raskin.house.gov @progressdems.bsky.social @sanders.senate.gov @warren.senate.gov @repbonamici.bsky.social @crockett.house.gov @ericswalwell.bsky.social
You're going to cut stop it, how? Do you plan to pick up any weapons? Because if you think you're going to stop it by running it through a legal system that is controlled by lobbyists you are very sadly mistaken.
Private equity firms are just thieves who found the loopholes and they need to be shut down.
Between private equity and AI for max profit, Americans may become in a few decades the next unwelcome immigrants around the world.
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I just learned that private equity bought up our local hospital....I wondered why they had closed several departments😡
Private equity is organized theft and should be outlawed…like billionaires
I can't imagine this mess happening to Duke Hospital in Durham...
Private equity = squeeze every dollar out of your workplace until it dies, then write off or sell off the remaining for parts or tax deduction.
Private Equity = pirate equity. They should be outlawed.
Vulture capitalists will pick your bones clean.
Don't forget Steward Healthcare in Massachusetts
There is nothing more dangerous for healthcare than for profit hospitals. By definition they care more about money than patients.
Healthcare and capitalism are incompatible. Capitalism is founded on a mutually beneficial exchange between a willing buyer and a willing seller. If the buyer will die without the purchase, they are not a willing buyer. That's not commerce; that's extortion.
its not just health care.....McDonalds and several others are using apps for employee paychecks that disguise the 1340% APR payday loan in the app....think about that 1340% APR payday loan to get a minimum wage check...
What? Payday loan? Can you link a source?
Connecticut has superb healthcare. Please do everything to protect it !
I wish more American's would wake up and realize the damage private equity is doing to so many sectors of our lives! And I worry it's just going to get worse.
Maybe, just maybe, that 💩 should be illegal. We need a governing body that fixes 💩 like that. If only we had one.
You are doing such a great job...I wish New York had a senator who was half as engaged and useful as you are. Lucky Connecticut.
It is vile
Exactly what happened in Delaware County Pennsylvania. Vultures swoop in and suck out resources and close up shop. All are currently legal. Like Trump saying smart people don't pay taxes.
This rape and pillaging of American Healthcare resources should earn those corrupt CEOs a firing squad. No more! Time for guillotines, folks!! Learn from history or be doomed!
End-stage capitalism. The new robber-barons loot everything of value from everywhere, rig the system to favor them even more, remove all social safety nets, and isolate themselves in their fortresses, hoping to forestall the torches & pitchforks as long as possible.
Come to Canada. We need nurses!
This is such an important essay. It’s a bit lengthy but you need to know this. The most vicious self-serving investor groups , private equity investors, are siphoning up hospitals, clinics, nursing homes, physician and ancillary health practices in an industry already crumbling due to lack of 1/2
appropriate levels of funding. Healthcare, in all of its parts, should never be for profit but especially for the benefit of the wolves of Wall Street - PE firms. Tell your representatives, local, state and federal, that you will not stand for this. Your life truly depends on ending this. 2/2
The justification for private medicine is that the interests of private owners are not really all that badly misaligned with the interests of patients, doctors, and nurses. A rising tide lifts all boats. The links are loose, but they exist. The "genius" of private equity is in finding a way to break
those links, and create a laser-focus on enriching the private owners without any unwanted side-effects of accidentally benefitting any other stakeholders.
READ THIS THREAD! These people are monsters yet they are revered as the “smart guys”, the “successful” exemplars of what our Predatory Capitalism system produces. It all boils down to this: MONEY is king! Everything decent about humanity’s history is worthless if it can’t be monetized.🤬🚩🚩🚩
If t-Rump was a normal person this private equity bull shyt would be one of the biggest stories for the last 10 years!
Private equity is the most destructive economic tool of the last 50 years. Nothing more American than that.
My dr referred me to a local GI clinic for a colonoscopy. The soonest they could get me in was next summer.
😳
Mine was 7 months. $1,000 a month for my health insurance premium. 8 months for a women’s specialist appt. I don’t want to hear shit from people talking about “delays” in care with socialized healthcare. We have it worse. Also, we pay so much more. I spend about $15,000 on healthcare, min, yearly.
I was lucky i was unemployed and broke when i had my heart attack. If i had been employed and insured, i wouldve been on the hook for at least 10 grand in medical bills. As it was, medicaid paid for it all. Thanks taxpayers!
They did it to art Van furniture here in Michigan. They sold all the buildings and ratted them back. I wouldn't run it into bankruptcy. Isn't that follow them? People that were working without a job. Then Garner white furniture company. They moved into all those nice buildings. The rich eat the ric
It should be called pirate equity, they loot EVERYTHING they touch ☠️
Yes please tell us more 🙏🏽 thank you
Private Equity is just like Trump; everything they touch turns to shit.
Steward did this in mass and Florida as well. Private equity ruins hospitals
Capitalism is two sheep and a wolf in a rowboat deciding what's for dinner.
“Après moi le déluge! [After me, the flood] is the watchword of every capitalist and of every capitalist nation. Hence Capital is reckless of the health or length of life of the labourer, unless under compulsion from society.” —Karl Marx
#ASCENSION is getting ready to turn over it's ICU staffing to a private equity firm in Milwaukee
Years ago I lived in Texas. A family member was sent to a hospital in Lufkin. The staff was expecting a family member to work the night shift caring for the 6'2", 200lb patient who had multiple seizures & waa confused & fighting.
The hospital said they don't have enough nurses. We told them we were not nurses & will not accept the liability. They seemed truly stunned by that concept
Private equity ruins everything but especially health care.
Can’t we just outlaw the private equity business model, in it’s entirety? It’s basically an asset-stripping extortion racket…
Here in Hunterdon County NJ it seems the hospital bought out all the private practices in the area. Meaning their bottom line is their priority rather than health care for the patients.
jamanetwork.com/journals/jam...
Thank you for your attention to the Connecticut Hospitals. I live in CT and hate to see our health care deteriorate right before our eyes.
Thank you. This is SO important
Can we stop private equity from buying all available housing in every market? Some people don’t want to rent, or pay 10 times the value of a house.
And stop them from buying homes too.
Private equity groups are selling off American companies. Hospitals Nursing homes Big Lots Joanne Fabric Red Lobster Veterinary hospitals
Let's also talk about religion in healthcare.
Thank you! I hoped the Joann example would wake up a few zombies (take away quilting and sewing from those who need it and see what happens!) but to cannibalize a *hospital*????? That takes extra greed and hate for your fellow human beings. 🤬😱
Thank you Senator!
Liz Warren knows that story well.. www.warren.senate.gov/newsroom/pre...
See if you can scare up a co-sponsor or two for legislation among the quislings in the Senate Republicans’ cloakroom. I’m betting you can’t. And such a bill would never get a vote in the House anyway …
Delaware County, PA has lost its main health system due to the same private equity firm. We no longer have an ER or Trauma Center or Burn Unit to go to.
Tower Health took our in southern chester county a long time ago. After years without an ER christiana is opening one this month
Per TX Lt Gov Dan Patrick "The elderly will self-sacrifice for the good of the economy" Venture capitalists need ONLY HEALTHY PEOPLE for their healthcare business model to work! www.vanityfair.com/news/2020/03...
You first!
The elderly should vote republicans out of every available government position, for the good of the economy.
Elderly yt voters.
I haven’t yet read it but will today. Have copied to ten friends. If you haven’t yet, please consider similar analysis on REITs and assisted living. My wife worked in the field as a wellness nurse and experienced the difference before and after they moved in. It’s everywhere, Senator.
That’s why I stopped working as a nurse
Here is Chris Murphy, He Wants to "Wake Up the Slumbering People of America" by Denying them M4A, a Living Wage, Education Finance Reform with SDC, Housing Finance Reform. "We know that our Wealthy Democratic Base is not fond of Populist Economics" #CorporateFascists #Murphyisms
Oh Please, Murphy, Ds' Neoliberal Austerity Policy over the last 40 Years has created the Private Equity Monster, you have no way of Taming it, they Own You and the Democratic Party you Fool. I mean what is the Genius Bill but a Private Equity give away, who do you think owns Crypto? #Murphyisms
Let's Be Clear, If the U.S. had M4A there would be no Need for Medicaid Budgets or Veterans Hospitals. Excess Bureaucracy results from the Gov't trying to Ration Healthcare, Education and Wealth Distribution, Not the other Way Around. #M4A #MMT #Capitalists #Murphyisms
"Charlie, for $500 name a Sin the Democrats project onto Republicans?" "Oh that is Easy, Dragons" "No Charlie, I am afraid the Correct answers are Neoliberal Austerity Policy and Genocide." #Corporatists #Oligarchs
Well at least the Hospitals are receiving Cheap Organs, hey isn't this Cory Booker's Territory? bsky.app/profile/kyle...
Shut Up. Indeed, Schumer’s relatives and former staffers are now lobbying for the Blackstone Group, Amazon, Intel, and Google, among other corporate giants — all of which have been lobbying on pending Senate legislation. #RiggedEconomy www.levernews.com/schumers-fam...
Must read 🧵!
Prospect did the same thing to my county in PA, closed our only hospitals and left so many in the dark. If they did this to 2 states and who knows who else, they need to be in jail not just file bankruptcy and move on like nothing happened.
Investors that buy into private equity are being lied to. Companies run by private equity investment have hidden debt and reduced capacity to produce. The profit growth they show is false as actual growth is usually shrinking - they reduce operating costs at the expense of actual capacity to grow.
It isn't just hospitals. It is everywhere in smaller tech companies. We need to overthrow neo-liberalism. We need to remove donor influence over elected officials. The US needs to ban insider trading by members of Congress. The US left must stop taking input from the same think-tanks as the right.
Is there a relationship between Heritage Health and Heritage Group? While I read that they are distinct entities, that does not mean there ain’t a connection.
Privatization of our healthcare, prisons and schools will be our downfall! Why can’t ppl see this?
💯🎯 agree Private equity will loot everything it controls ! It’s just the nature of that beast! It’s a shame that our paid government has proven incapable only because it has NEVER tried! There’s a presidential order that for some reason has been omitted!
And veterinary practices, vision practices, lower cost real estate, you name it the vultures want in
This makes me so angry that this Private Equity looting of our hospitals is allowed and is legal. Same is happening with fire trucks.
How do we make this illegal?
@svtgroup.bsky.social does analysis of the impact of private equity on wellbeing, in partnership with investors and other stakeholders. Please contact if interested
Great idea! And while you're at it, please do another one on veterinary clinics, which has pushed caring for animals beyond the budgets of many middle class families. Senior homes is another area of deep exploitation.
Excellent thread
Maybe CT can start a new way forward? Honestly there's enough money in the northeast that states can band together and fix the Healthcare mess as a Blox. A regional public option?
This is just capitalism doing its thing.
This is happening with housing as well. Entire countries are being sucked dry using this same tactic. I have to say China has the right idea disappearing CEOs that get too greedy
