"It's the biggest scam that almost no one knows about..."
This Business Insider article is mind-boggling: https://lnkd.in/g2hPC8dR
These* hospitals (now closed) bought by private equity firms like:
Cerberus Capital Management
Leonard Green & Partners (LGP) &
Apollo Global Management, Inc.
in a move that stripped the hospitals of one of their prime assets, the owners #SoldTHELand that the 🏥 hospitals were built on to Medical Properties Trust, Inc. (MPT). MPT now owns $16B of hospital real estate.
What did MPT do?
Charge #Rent to hospitals for property that used to be theirs!
Investors getting rich off of hospitals --> hospitals close due to bankruptcy --> patients that live in these communities have limited & delayed access to care.
"at least 13 hospitals have closed or gone #bankrupt after their land was sold to MPT. And the damage is far from over. In January, MPT reported that its biggest tenant, a nationwide chain of 32 hospitals called Steward Health Care, could no longer pay its $400M rent per year. The announcement — which has left health officials scrambling for fallback plans to provide care to the 2.2 million people served by Steward — could foreshadow more #hospitalclosings to come."
Hospitals that closed (abbreviated list):
Northside Regional Medical Center in Youngstown, Ohio
Ohio Valley Medical Center in Wheeling, West Virginia
East Ohio Regional Hospital in Martins Ferry, Ohio
St. Luke's Medical Center in Phoenix, Arizona
and so many more listed here: https://lnkd.in/gGG5U6Pv
President at BANKTASTIC® and MB Piland Advertising + Marketing • Speaker • Author • Brand Strategist • Yogi
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