Investors Extracted $400 Million From a Hospital Chain That Sometimes Couldn’t Pay for Medical Supplies or Gas for Ambulances

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In the decade since Leonard Green & Partners, a private equity firm based in Los Angeles, bought control of a hospital company named Prospect Medical Holdings for $205 million, the owners have done handsomely.

Leonard Green extracted $400 million in dividends and fees for itself and investors in its fund — not from profits, but by loading up the company with debt. Prospect CEO Sam Lee, who owns about 20% of the chain, made $128 million while expanding the company from five hospitals in California to 17 across the country. A second executive with an ownership stake took home $94 million.

The deal hasn’t worked out quite as well for Prospect’s patients, many of whom have low incomes. (The company says

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Chrissy Teigen Said She Couldn’t Hear Her Baby’s Heartbeat

Photo credit: Axelle/Bauer-Griffin - Getty Images
Photo credit: Axelle/Bauer-Griffin – Getty Images

From Marie Claire

  • Pregnant Chrissy Teigen had a “really scary morning” during which she couldn’t hear her baby’s heartbeat, she shared on Twitter.

  • Thankfully, doctors found the heartbeat, she said.

  • Earlier this week, Teigen received two blood transfusions after experiencing severe bleeding.

Chrissy Teigen experienced a major health scare during her third pregnancy, she shared on Twitter Tuesday. “Just had a really scary morning,” she wrote. “huge clot, almost save-worthy. The scramble to hear the heartbeat seemed like hours. I never thought I’d relief sigh so much in my liiiiife.”

Teigen was hospitalized on Sunday after experiencing severe bleeding; she told her followers, “It kind of

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