The private-equity playbook is adding to the strains of health-care systems as they battle the coronavirus
Pennsylvania’s governor was urgently preparing for a surge in Covid-19 cases last month when a private-equity-owned hospital said it would shut its doors unless the state secured a $40 million bailout.
Steward Health Care System LLC said it needed the money from the state in three days or “Easton Hospital will no longer be able to serve the community’s health-care needs and will be forced to close,” read a letter to the governor from Steward, which is owned by $43 billion New York investment firm Cerberus Capital Management...
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