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Why America's hospitals are on life support

March 13, 2024
Business Insider
Contributed by: Drex DeFord
The closure of community hospitals across the United States has become increasingly common, notably impacting low-income communities and marking a significant shift in the landscape of healthcare access. These communities have seen at least 13 hospitals shut down or go bankrupt after their real estate was acquired by Medical Properties Trust (MPT) in a series of deals that shifted hospital ownership primarily to for-profit investors including private equity firms like Cerberus, Leonard Green, and Apollo. These deals often ended disastrously for the hospitals, imposing rent payments on properties they once owned and exacerbating financial struggles under the heavy debt from their for-profit owners. The situation highlights a broader issue of private equity profiting at the expense of essential healthcare infrastructure, with ongoing implications that threaten the viability of more hospitals and access to healthcare in underserved areas. The article raises concerns about the ethical and financial underpinnings of such investment strategies and calls into question their legality and impact on public health.
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