Hospitals & Healthcare Systems
Prospect Medical Holdings
Leonard Green extracted $400M+ through dividend recaps and management fees while hospitals deteriorated. Multiple facilities closed or in crisis 2023-2025. Subject of congressional investigation.
- FOUNDED
- 1996
- ACQUIRED
- Leonard Green & Partners, 2010
- IMPACTS
- 1 documented
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Editorial Record
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Prospect Medical Holdings founded
Acquired by Leonard Green & Partners
Leonard Green extracted $400M+ from Prospect Medical while hospitals closed
CriticalClosure / BankruptcyLeonard Green extracted over $400M through dividend recaps and management fees from Prospect Medical Holdings while hospital quality deteriorated. Multiple facilities have closed or face crisis 2023-2025. Subject of congressional investigation. Thousands of jobs and patient care affected.
How a Private Equity Firm Stripped a Hospital Chain for Parts
Before / After
Hospitals closing
reported 2024
before 17 hospitals
after Multiple closed, rest in crisis
-40%
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