H.B. 1666 Testimony

The Private Equity Stakeholder Project (PESP) urges the Indiana State Senate to pass H.B. 1666, arguing that stronger oversight of private equity acquisitions in healthcare is necessary to protect patient safety and financial stability. PESP highlights systemic risks, including high bankruptcy rates among private equity-owned healthcare firms and specific failures in Indiana's intellectual and developmental disability (IDD) services sector. The testimony details quality-of-care deficiencies at Sevita and a fatal case of neglect at Help at Home, both of which are private equity-owned providers operating in Indiana.

• Indiana is ranked among the 10 states with the highest average rate of readmission after discharge at private equity-controlled acute care hospitals and among the 10 states with the lowest average patient survey rating at such hospitals compared to state averages.
• The private equity-owned provider Sevita has faced significant financial instability and quality-of-care issues; Moody's Investors Service affirmed a Caa1-PD Probability of Default Rating for the company in March 2024, citing "very aggressive financial policies."
• Help at Home, a private equity-owned provider, was linked to the death of an individual with intellectual and developmental disabilities (IDD) in Indiana due to neglect. An investigation by the Bureau of Quality Improvement Services (BQIS) found the company failed to train the primary caregiver properly and violated the regulatory Code of Ethics by documenting records for a client its staff had never met or observed.
• Private equity acquisitions in the U.S. healthcare sector reached a peak in 2021 with 515 buyouts valued at $151 billion, often involving tactics such as looting safety net hospitals and cutting less profitable services.
• Private equity ownership is strongly associated with healthcare bankruptcies; in 2024, 21% of all healthcare bankruptcies involved private equity-owned companies, and 88% of the largest bankruptcies (liabilities over $500 million) were at companies with a history of private equity ownership.

APA

Noble, C. (2025). H.B. 1666 Testimony. Private Equity Stakeholder Project. https://pestakeholder.org/wp-content/uploads/2025/06/3-19-25-IN-HB-1666-Testimony-PESP.pdf

Chicago

Noble, Chris. H.B. 1666 Testimony. Private Equity Stakeholder Project, 2025. https://pestakeholder.org/wp-content/uploads/2025/06/3-19-25-IN-HB-1666-Testimony-PESP.pdf.

Wikipedia

{{cite press release |last1=Noble |first1=Chris |title=H.B. 1666 Testimony |publisher=Private Equity Stakeholder Project |date=19 March 2025 |url=https://pestakeholder.org/wp-content/uploads/2025/06/3-19-25-IN-HB-1666-Testimony-PESP.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{noble20251666, author = {Noble, Chris}, title = {{H.B. 1666 Testimony}}, publisher = {Private Equity Stakeholder Project}, year = {2025}, month = mar, url = {https://pestakeholder.org/wp-content/uploads/2025/06/3-19-25-IN-HB-1666-Testimony-PESP.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }