April 17, 2024
Lauren Coleman-Lochner, Bloomberg
Private equity-owned businesses accounted for a high number of bankruptcies in the healthcare sector last year, and another wave of distress looms, according to a new report from an advocacy group that monitors the sector.
PE-backed firms accounted for at least 17, or about a fifth, of the 80 bankruptcies of healthcare companies last year, the Private Equity Stakeholder Project said in a report due to be released Wednesday. It called 2023 a “record year” for large health-care bankruptcies. Also, venture-capital backed companies made up another 12, or 15%, of the filings, it said in a study that looked at companies with liabilities of more than $10 million.
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