Today, UNITE HERE published a new website, www.ApolloLifePointWatch.org, to provide Yuma, AZ residents with information about LifePoint Health, a for-profit hospital chain owned by private equity giant Apollo Global Management.
Recently, the Yuma Regional Medical Center (YRMC) announced it is exploring forming a joint venture with Apollo-owned LifePoint, which could result in for-profit LifePoint becoming the hospital’s majority owner.
“Yuma community members deserve to know the facts about LifePoint and Apollo. We hope this site will be a resource as they consider if for-profit, private equity ownership is right for their hospital,” said Michael Hachey, a research analyst for UNITE HERE.
The website provides links to press accounts regarding LifePoint’s track record at other facilities, including reports of LifePoint cutting healthcare services at its hospitals in Wyoming and healthcare workers protesting LifePoint’s staffing levels in Idaho and Washington.
The website also links to information regarding the broader impact of private equity ownership in the healthcare industry. Private equity firms’ aggressive financial practices in the pursuit of short-term profits could conflict with the interests of patients and communities. A recent study of private equity ownership in nursing homes found that private equity ownership increased the short-term mortality of Medicare patients by 10%. The study also found increased costs to taxpayers, declines in nursing staff, and increased spending on monitoring fees, interest, and lease payments.
UNITE HERE is a labor organization that represents hospitality workers throughout the United States and Canada. www.unitehere.org
View source version on businesswire.com: https://www.businesswire.com/news/home/20210917005349/en/
Contacts
UNITE HERE
Michael Hachey, (703) 344-4778, mhachey@unitehere.org
