Patient-Harm

Steward Health Care Declares Bankruptcy After Private Equity Extracts $1.3 Billion, At Least 15 Patient Deaths Linked to Substandard Care

2024-05-06 00:00:00 +0000 UTC | Importance: 10/10

Steward Health Care, the Dallas-based for-profit hospital system operating 31 hospitals across eight states, declared bankruptcy in one of the most colossal failures of a hospital chain in American history. Private equity firm Cerberus Capital Management and former CEO Ralph de la Torre reportedly …

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Private Equity Firm ReGen Healthcare Invests $100M in Failing Genesis Healthcare, Beginning Four-Year Collapse to Bankruptcy

2021-03-01 00:00:00 +0000 UTC | Importance: 8/10

Genesis Healthcare, once the largest skilled nursing operator in the United States, narrowly avoids bankruptcy by accepting a $100 million investment from Joel Landau’s private equity firm ReGen Healthcare LLC, which receives 93% equity stake and two board seats in exchange. Genesis’ …

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NBER Study Reveals Private Equity Nursing Home Ownership Increases Mortality 10%, Causes 20,000 Excess Deaths

2020-12-14 00:00:00 +0000 UTC | Importance: 9/10

National Bureau of Economic Research releases landmark study (Working Paper 28474) analyzing patient-level Medicare data from 18,000 nursing facilities over 17 years, finding that private equity ownership increases patient mortality by 10% compared to other nursing homes. The 10% mortality increase …

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DaVita Pays $450 Million for Drug Wastage Fraud, Largest Unjoined Whistleblower Settlement in History

2015-10-28 00:00:00 +0000 UTC | Importance: 9/10

DaVita Healthcare Partners agrees to pay $450 million (ultimately $495 million) to resolve False Claims Act allegations that it knowingly created unnecessary waste in administering dialysis drugs Zemplar and Venofer, then fraudulently billed Medicare and Medicaid for the avoidable waste. …

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DaVita Pays $350 Million to Settle Doctor Kickback Allegations, Exposing Systematic Dialysis Profiteering Scheme

2014-10-22 00:00:00 +0000 UTC | Importance: 8/10

DaVita Healthcare Partners, the nation’s second-largest dialysis provider, agrees to pay $350 million to resolve False Claims Act allegations that it paid illegal kickbacks to physicians to induce patient referrals to its dialysis clinics from 2005-2014. The scheme involved DaVita offering …

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