Massachusetts lawmakers are holding a hearing Monday to discuss private equity ownership in healthcare.
, which owns nine hospitals in Massachusetts is in the middle of a financial crisis.
The company is now considering pulling out of the state. If this happens, health care will be far less accessible for hundreds of thousands of people.Sign up for NECN newsletters.On Monday, lawmakers heard from a top government watchdog who warned that industry consolidation, for-profit ownership and private equity investment in healthcare"will only continue."
The agency examined 182 provider purchases and sales between 2013 and 2023. Between 2013 and 2016, Seltz said, private equity was involved in about 25% of transactions. That jumped to 47% of transactions between 2017 and 2020 and 63% between 2020 and 2023.
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