Hello Friends! A fresh thread for us.
Bernie picked a very good battle, one very much worth fighting, when he jumped into the planned closure of Hahnemann University Hospital.
Democratic presidential candidate Sen. Bernie Sanders, I-Vt., condemned the planned closure of Philadelphia-based Hahnemann University Hospital as an example of the failure of the U.S. healthcare system, Politico reports.
“The situation in Philadelphia illustrates the entire problem: In a city with one of the highest poverty rates in the country, a major hospital serving low-income communities is on the verge of laying off 2,500 people, abandoning 500 medical residents, and closing its operations thanks to an investment firm looking to make as much money as possible in a corporate fire sale,” Mr. Sanders said July 7, according to Politico.
Mr. Sanders voiced his support for the Pennsylvania Association of Staff Nurses and Allied Professionals, which is advocating to keep the hospital open. The union represents 800 registered nurses at Hahnemann University Hospital. PASNAP endorsed Mr. Sanders in 2016
Important story from
@mikeelk about the closing of Hahnemann Univ. Hospital in Philadelphia. Its private equity owner is bankrupting the 171 year-old medical center and selling the real estate for luxury condos
Private equity experts worry that private equity firms buying up hospitals simply to sell them for their real estate could become a trend.
“This is an industry where once somebody does this successfully, lots of other private equity firms will follow,” says Eileen Appelbaum. “You just have to think to yourself how many hospitals are in gentrifying neighborhoods in urban America, where the property is worth a lot more than the hospital itself.” Indeed, Freedman could carry this off himself: Paladin has Howard University Hospital in Washington, D.C.’s luxury condo–packed U Street neighborhood in its portfolio, along with four hospitals in south and east Los Angeles.
Union workers and community members say that’s why they intend to fight against the closing.
“It’s a community, despite the fact that there are lots of hospitals in the city of Philadelphia, the patients and workers who get served by one hospital are a community,” says Sue Bowes. “I am fighting really hard for this hospital not just for us but so that another hedge fund doesn’t come in and close down hospitals, and leave patients with nowhere to go. It’s just simply wrong.”
My question is, how the heck did a private equity vulture get his hands on a university hospital?