@_DavidRumsey If it wasnβt for twitter I would not see any of his shots as well. Shame, he belongs on the PGA tour. Such a stupid decision on both parties to not come together (Bryson and PGA)
@fried_egg_golf You could say the actual wait was the wait we all waited for Rory as he waited to win the final leg of his long awaited journey to his Grand Slam.
Private equity firms bought 500 hospitals. Death rates in their emergency rooms went up 13%. They fired 12% of the staff. Then they paid themselves billions in dividends.
A Harvard study just confirmed what doctors already knew: people are dying so investors can hit quarterly targets.
Exactly what happens. A PE firm buys a hospital using debt. The debt gets placed on the hospital's balance sheet, not the firm's. Now the hospital owes hundreds of millions it never borrowed. To service that debt, the hospital cuts costs. Costs mean nurses.
The numbers from the Harvard/University of Chicago study are horrifying. After PE acquisition, emergency department salary spending dropped 18.2%. ICU salary spending dropped 15.9%. Hospital-wide employees were cut 11.6%. Emergency department deaths rose 13%, seven additional deaths per 10,000 visits.
A separate study found patients undergoing surgery at PE-acquired hospitals had 17% higher odds of dying within 90 days.
Steward Health Care, owned by Cerberus Capital, filed bankruptcy with $9 billion in debt after closing hospitals across Massachusetts. The CEO lived on a $40 million yacht while emergency rooms went dark. Eight hospitals serving 2 million people nearly disappeared because a PE fund extracted more cash than the system could survive.
The private equity industry has poured over $1 trillion into healthcare. They operate a quarter of ERs nationwide. This isn't going away.
The investing angle nobody talks about.
Non-PE hospital operators like HCA Healthcare (HCA) and Tenet (THC) are the direct beneficiaries. Every time a PE hospital closes or deteriorates, patients flow to the nearest competitor. HCA has returned 1,200% since 2011. Patient volume from PE closures is a structural tailwind nobody's pricing in.
Medical staffing firms (AMN Healthcare, Cross Country) charge premium rates specifically because PE hospitals cut staff. The staffing shortage IS the business model for these companies.
The disruption play: outpatient surgical centers (SCA Health, now part of UnitedHealth) are pulling profitable procedures out of hospitals entirely. PE-owned hospitals lose their highest-margin surgeries to outpatient, and the death spiral accelerates.
Pull up tradevision and monitor healthcare M&A alerts, hospital closure filings, and patient volume migration data. When a PE-owned hospital announces "restructuring," the patient volume shift to competitors like HCA starts within 30 days. That 30-day window is when the competitor's earnings revisions haven't updated yet. Free to try.
(a private equity firm bought your local hospital. borrowed $500 million in the hospital's name. fired 12% of the nurses. emergency room deaths rose 13%. then they paid themselves dividends. nobody went to prison. they're currently buying another hospital.)
@Mike_kim714 And now every player knows all of this! Giving away trade secrets? Playing mind games? Michael S. Kim is either James Bond or Austin Powers. Iβve heard of multiple rookies using the Michael S. Kim way. Follow his twitter and boom, no need for a coach.
It's that magical time of year when private jets descend on a Swiss mountain village to discuss climate change and poverty! Anyway, here's my annual reminder. I'll stop posting this when they stop avoiding the real issue: their own massive tax avoidance π°
@NUCLRGOLF Itβs worth doing it regardless. Having Pebble 7 to yourself for 24 hours! Thatβs worth jail miss or make. Iβd make it though, Iβd need about 7 hours, on a Sunday. RedZone in the background, Iβd hit it. Super chill vibes, unlimited snacks and drinks. Jail must be a womenβs jail.
@ZohranKMamdani Fuck out of here with this shit. Fuck. Out. Of. Here. You are a parasite, not remotely qualified, deserving or dignified to lead. You are as fake as they come. Backbone made of dust. Whilst no good choice given NYers you are not him. You. Are. Not. Him.