Senators Warren, Markey Introduce the Corporate Crimes Against Health Care Act of 2024

[Passages]

The poison of private equity.


My Corporate Crimes Against Health Care Act would prevent what happened with Steward from ever happening again.”

Text of Bill (PDF) | One Pager (PDF)

Washington, D.C. – Today, U.S. Senators Elizabeth Warren (D-Mass.) and Ed Markey (D-Mass.) introduced the Corporate Crimes Against Health Care Act of 2024 to root out corporate greed and private equity abuse in the health care system.

Over the last decade, private equity fund assets have more than doubled, totaling $8.2 trillion in 2023. While private equity funds have purchased companies in nearly every sector of the economy, their aggressive deal-making in the health care sector poses grave risks to patient health and raises questions about potential abuse of taxpayer dollars, as private equity companies routinely load up portfolio companies with usurious debt, sell off valuable assets, and extract exorbitant dividends and fees—regardless of how their investments perform.

Unfortunately, lax corporate accountability and transparency laws have provided cover for private equity’s parasitic practices, allowing executives to plunder hospitals, nursing homes, provider practices, and other health care entities with impunity.
https://www.warren.senate.gov/newsroom/press-releases/senators-warren-markey-introduce-the-corporate-crimes-against-health-care-act-of-2024