A Wall Street Giant Tapped $1.5 Billion in Federal Aid for Its Hospitals
Private equity firm, flush with cash, sees ‘upside’ and more acquisitions.
LifePoint’s Castleview Hospital in Price, Utah.
Photographer: Richard Crookston/EPA/ShutterstockThis article is for subscribers only.
Like hospital chains across the U.S., LifePoint Health tapped federal relief money to blunt the cost of the Covid-19 pandemic. It was a potent lifeline, a total of $1.5 billion.
But LifePoint is unusual in one respect, its owner: private equity firm Apollo Global Management, led by billionaire Leon Black.