Private equity firms are endangering people’s health and lives, Massachusetts Democratic Senator Elizabeth Warren warned, reports Forbes.
“We’re seeing it all around health care sector,” Warren said, chairing a Senate hearing on the financial sector.
The massive buyouts of health care facilities from doctors’ offices to nursing homes has reduced the quality of care and in the case of nursing homes, cost 20,000 lives, she asserted.
To show some of the impact, the Senator brought in Peggy Malone, a nurse for 32 years at the Crozer-Chester Medical Center in Upland, Pennsylvania.
When the private equity firm Leonard Green & Partners bought Crozer-Chester, she said the staff was cut and medical professionals couldn’t get supplies, the nurse claimed. Read more.
