Washington, D.C.— Predatory private equity firms hurt workers, threaten our health care system and harm the broader economy according to a new report released today by the Joint Economic Committee Democrats. 

The report connects private equity’s growing influence in the health care industry with the declining quality of care at private equity-owned hospitals and nursing homes. Private equity firms have been associated with potential overprescription of procedures, shortages in medical devices, and poorer quality of care outcomes. 

“New Mexico is at the highest risk of being exploited by private equity firms. While private equity can be an important tool for struggling businesses, harmful practices by unregulated private equity firms can shut workers out of good-paying jobs and threaten Americans’ health. That needs to end,” said Senator Martin Heinrich. “I will keep working to make sure patients aren’t harmed by predatory practices of private equity firms.”

 Democrats in Congress have taken several steps to take on private equity including launching an investigation into PE-owned hospitals, demanding answers on whether companies’ efforts to pad their profits simultaneously harmed patients, and working to close tax loopholes that specifically benefit these firms.

 Read the full report here.