Private equity firms own about 460 US hospitals, with 26% of those hospitals serving rural populations, according to new data published Feb. 8 by the Private Equity Stakeholder Project.
A handful of private equity firms dominate the list of private equity-owned hospitals. Since acquiring Brentwood, Tenn.-based Lifepoint Health in 2018 and spinning off Louisville, Ky.-based ScionHealth in 2021, Apollo Global Management has consolidated ownership of at least 240 hospitals, with a workforce of about 75,000 employees, according to PESP.
At 97, Texas is the state with the most private equity-owned hospitals. New Mexico has the highest proportion of private equity-owned hospitals, with 38% of its private hospitals having private equity backing.
The report comes amid rising scrutiny of private equity hospital ownership, with PESP arguing that private equity's hospital profiteering has contributed to dangerous conditions, closures and reduced access to care, declining quality and fraud.