Skip to main content

Bernie Sanders Slams PE over Expected Hospital Closing

Submitted by jhartgen@abi.org on

Bernie Sanders has spent his political career touting a populist platform that decries any form of perceived Wall Street greed. The latest example came this week when the Democratic presidential hopeful visited Philadelphia to protest the planned closure of Hahnemann University Hospital, which offers a range of medical services for the city's poorest residents, Pitchbook.com reported. Speaking to about 1,500 hospital workers and other supporters, Sanders criticized Los Angeles-based investor Joel Freedman and his private equity firm, Paladin Healthcare. In 2017, Paladin and its portfolio company, American Academic Health System, bought the hospital and St. Christopher's Hospital for Children from Tenet Healthcare for a reported $170 million. MidCap Financial, the financing arm of Apollo Global Management, served as the lender, per reports.