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Attorneys and advocates press Connecticut to curb private equity ownership of hospitals after Prospect Medical failures
Summary
Multiple witnesses told the Public Health Committee that private equity ownership of hospitals creates misaligned incentives and harms patients and staff; speakers cited Prospect Medical Holdings and Waterbury Hospital as examples and urged legislative scrutiny of private equity transactions in health care.
Chris Matty, a private-practice attorney and former federal prosecutor, told the Public Health Committee that "private equity ownership of healthcare facilities is simply incompatible with the delivery of healthcare in the state of Connecticut." Matty urged lawmakers to consider prohibitions or limits in response to recent failures by Prospect Medical Holdings and other private-equity-owned health systems.
Matty said private-equity investors seek short-term, high rates of return and that those incentives can lead to…
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