Apollo’s Stranglehold on Hospitals Harms Patients and Healthcare Workers

The report argues that Apollo Global Management's private equity model—characterized by high leverage and cost-cutting—has harmed patients and workers across its 220 hospitals. It documents specific instances of service cuts, poor quality ratings, and regulatory failures, while questioning the anti-competitive nature of the Lifepoint-ScionHealth spinoff.

• Apollo Global Management controls approximately 220 hospitals across 36 US states through two major systems: Lifepoint Health (126 hospitals) and ScionHealth (94 hospitals).
• Both Lifepoint and ScionHealth are characterized by high debt levels and significant default risk. Moody's Investor Service rated both with a B3 Corporate Family Rating, designating them as speculative. ScionHealth's debt/EBITDA ratio was approximately 5.8x in June 2022, while Lifepoint's was approximately 7.9x in September 2023.
• Lifepoint implemented substantial cost-cutting measures in 2020 despite receiving $1.64 billion in COVID stimulus aid. These cuts included reducing salary and benefit costs by $166 million and decreasing charity care by 21% ($7.3 million).
• Apollo-owned hospitals exhibit quality ratings below national averages. Lifepoint and Scion hospitals have an average CMS star rating of 2.8, compared to a national average of 3.2, with 38.2% of their facilities rated 2 stars or below.
• Severe patient safety failures and regulatory issues have occurred at specific facilities. Wilson Medical Center in North Carolina received three 'immediate jeopardy' designations in under a year, while Ottumwa Regional Health Center in Iowa was the site of sexual assaults of nine patients by a nurse practitioner.
• The report identifies a pattern of reducing essential but less lucrative services. Examples include Conemaugh Nason Medical Center ending scheduled obstetrics deliveries and pediatric clinics in 2022, and Memorial Medical Center in New Mexico closing its psychiatric ward in 2022.
• The creation of ScionHealth via a spinoff from Lifepoint is presented as a potential strategy to evade antitrust scrutiny. Although positioned as separate, both are owned by Apollo Fund IX and share board members.

APA

Private Equity Stakeholder Project (n.d.). Apollo’s Stranglehold on Hospitals Harms Patients and Healthcare Workers. https://pestakeholder.org/wp-content/uploads/2024/01/PESP__Report_Apollo_Lifepoint_2024.pdf

Chicago

Private Equity Stakeholder Project. Apollo’s Stranglehold on Hospitals Harms Patients and Healthcare Workers. n.d. https://pestakeholder.org/wp-content/uploads/2024/01/PESP__Report_Apollo_Lifepoint_2024.pdf.

Wikipedia

{{cite report |author=Private Equity Stakeholder Project |title=Apollo’s Stranglehold on Hospitals Harms Patients and Healthcare Workers |url=https://pestakeholder.org/wp-content/uploads/2024/01/PESP__Report_Apollo_Lifepoint_2024.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{privateequitystakeholderprojectndapollos, author = {{Private Equity Stakeholder Project}}, title = {{Apollo’s Stranglehold on Hospitals Harms Patients and Healthcare Workers}}, institution = {Private Equity Stakeholder Project}, url = {https://pestakeholder.org/wp-content/uploads/2024/01/PESP__Report_Apollo_Lifepoint_2024.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }