The American Prospect
•68% Informative
In 2010 , a money-losing Catholic health system owned by the Archdiocese of Boston called Caritas Christi was sold to Cerberus Capital , a private equity firm.
The deal was conditioned on several commitments by Cerberus , some of which were not kept.
Now, not surprisingly, the Steward chain, which has grown to 30 hospitals encumbered with debt and lease payments, is broke.
While de la Torre enjoys his yachts and Cerberus executives enjoy their payday , thousands of patients at Steward hospitals can’t get care and thousands of medical professionals stand to lose their jobs. Private equity is a travesty under the best of circumstances. It is especially toxic when it buys and loots hospitals..
VR Score
66
Informative language
63
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20
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formal
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English
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44
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