Private Equity Destroys Hospital Chain

https://www.bloomberg.com/news/features/2020-08-06/cerberus-backed-hospitals-face-life-and-debt-as-virus-rages

Private equity companies destroy good businesses while making themselves rich. It is a very simple formula they follow: buy a company, take on a huge amount of debt, cash out bonuses, and walk away when the company burns down.

They will dress up how they do it with lies. In the case of the hospital above, the CEO De La Torre said they would improve care and invest in all sorts of nice initiatives. The reality is that they followed the same tried and true formula described in the last paragraph and got rich.

Published by

Joel Gross

Joel Gross is the CEO of Coalition Technologies.

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