America's healthcare sector is dominated by private equity firms, which are running the PE playbook on a human essential: load companies with debt, sell off assets, fuck over workers, deliver worse service, walk away from the ashes.
pluralistic.net/2020/04/04/a-m…
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pluralistic.net/2020/04/04/a-m…
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The pandemic is like a stop-motion video for slow crises. PE's looting of the health care system has been a crisis for years, but it's been a game of inches. Now, under pandemic, these too-slow-to-notice crises accelerate and can't be ignored.
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So the long-overdue outcry over PE's healthcare looting has finally arrived, as people raise an alarm over cuts to frontline workers' pay. The outrage is so loud, the specter of guillotines is so real, that finally, PE companies are listening.
pluralistic.net/2020/04/01/plu…
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pluralistic.net/2020/04/01/plu…
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Alteon, the first PE-backed health company to announce cuts is backing off of plans to cut front-line workers' salaries and taking money out of execs' paychecks instead.
propublica.org/article/er-sta…
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propublica.org/article/er-sta…
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KKR and Blackstone's health companies haven't followed suit...yet.
They may be holding out frontline health workers' wages as hostages in their bid to rake in billions in bailout money.
sfgate.com//news/article/…
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They may be holding out frontline health workers' wages as hostages in their bid to rake in billions in bailout money.
sfgate.com//news/article/…
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And of course, we can't fucking trust these psychopaths. The minute the crisis distracts us from them, they'll start crushing doctors and nurses again. Plutes gonna plute.
eof/
eof/
