Another heartwarming story about private equity
Private Equity never ceases to surprise me. The NYTimes today has another story about aggressive moves private equity has made into ambulance and fire services and the severely negative impact that has has on people. Some tidbits:
- Private companies now represent 25% of all ambulance providers, and 4% of fire service
- Private equity firms now manage more money (~$4.3T) than the GDP of Germany
- One of the firms sent a collections notice to an infant girl born in its ambulance
- Another firm was too late to get to a fire (and the house burned down), but it still sued the owner
Read and weep.