H.F. 2779 Testimony  Private Equity Stakeholder Project

The Private Equity Stakeholder Project (PESP) supports Minnesota bill H.F. 2779, arguing that stronger oversight of private equity and hedge fund acquisitions is necessary to protect the financial stability of the state's health systems. PESP highlights a trend of private equity consolidation in U.S. healthcare, noting that buyouts reached a peak of 515 transactions valued at $151 billion in 2021. The organization claims that private equity tactics include looting safety net hospitals, stripping real estate, and cutting less profitable services. Furthermore, PESP reports a high correlation between private equity ownership and healthcare bankruptcies, stating that 21% of healthcare bankruptcies in 2024 involved private equity-owned companies, and 88% of the largest healthcare bankruptcies (liabilities over $500 million) in 2024 occurred at companies with a history of private equity ownership.

• Private equity acquisitions of U.S. healthcare companies reached a record high in 2021, with 515 buyouts totaling $151 billion in value.
• The consolidation of healthcare by private equity involves harmful practices, including the looting of safety net hospitals, the removal of valuable real estate, the reduction of critical but less profitable services, and the exploitation of government funding programs.
• Private equity ownership is strongly linked to healthcare bankruptcies; in 2024, 21% of all healthcare bankruptcies involved private equity-owned firms.
• Among the largest healthcare bankruptcies in 2024—those with liabilities exceeding $500 million—88% were companies with a history of private equity ownership.

APA

Noble, C. (2025). H.F. 2779 Testimony  Private Equity Stakeholder Project. Private Equity Stakeholder Project. https://pestakeholder.org/wp-content/uploads/2025/06/4-10-25-MN-HF-2779-Testimony-PESP-1.pdf

Chicago

Noble, Chris. H.F. 2779 Testimony  Private Equity Stakeholder Project. Private Equity Stakeholder Project, 2025. https://pestakeholder.org/wp-content/uploads/2025/06/4-10-25-MN-HF-2779-Testimony-PESP-1.pdf.

Wikipedia

{{cite press release |last1=Noble |first1=Chris |title=H.F. 2779 Testimony  Private Equity Stakeholder Project |publisher=Private Equity Stakeholder Project |date=10 April 2025 |url=https://pestakeholder.org/wp-content/uploads/2025/06/4-10-25-MN-HF-2779-Testimony-PESP-1.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{noble20252779, author = {Noble, Chris}, title = {{H.F. 2779 Testimony  Private Equity Stakeholder Project}}, publisher = {Private Equity Stakeholder Project}, year = {2025}, month = apr, url = {https://pestakeholder.org/wp-content/uploads/2025/06/4-10-25-MN-HF-2779-Testimony-PESP-1.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }