A substantial new investigation, unveiled at the 2026 ATS International Conference, indicates that individuals undergoing treatment for Chronic Obstructive Pulmonary Disease (COPD) or pneumonia encounter diminished results across several critical metrics when admitted to healthcare facilities that have been subsumed by private equity entities.
Significantly, individuals diagnosed with pneumonia exhibit an elevated probability of mortality during their hospitalization in facilities acquired by private equity, compared to those in other hospitals. Concurrently, patients afflicted with COPD demonstrate a heightened likelihood of requiring re-admission within the initial 30-day period following discharge, in contrast to patients receiving care at alternative institutions.
This represents the inaugural study to substantiate a correlation between private equity acquisition and adverse patient outcomes in the context of these specific pulmonary conditions.
Our discoveries augment the escalating apprehension surrounding the adverse repercussions of private equity involvement in healthcare and underscore an urgent necessity for more stringent oversight of such acquisitions to safeguard our patient population.”
Stephen Mein, MD, lead author, pulmonologist at Beth Israel Deaconess Medical Center, and researcher at the Richard A. and Susan F. Smith Center for Outcomes Research, Boston
The number of healthcare institutions in the United States being acquired by private equity firms is experiencing a precipitous increase. Prior research has established that following private equity acquisition, patients report a decline in their care experiences and exhibit higher incidences of hospital-acquired complications, such as falls and bloodstream infections. Nevertheless, a limited number of studies have rigorously explored the influence of private equity acquisition on the trajectory of specific disease states, including COPD and pneumonia – the predominant respiratory ailments necessitating hospital admission.
Within the scope of this research, investigators meticulously scrutinized data encompassing over 146,900 COPD cases and 194,900 pneumonia cases that were managed at private equity-affiliated hospitals. These institutions were subsequently matched with a comparable cohort of hospitals not under private equity ownership, facilitating a comparative analysis of patient outcomes between the two groups.
A 1-percentage-point escalation was observed in adverse events for COPD patients. The mortality rate among pneumonia patients experienced an increase of nearly 1 percentage point.
“The upward trend in mortality rates for individuals hospitalized with pneumonia is particularly disconcerting,” stated Dr. Mein. “Although a 1-percentage-point increment might appear marginal, it signifies a considerable deviation when considering that the typical in-hospital mortality rates for pneumonia patients hover between 3 percent and 4 percent.”
Dr. Mein further elucidated that private equity firms are primarily driven by the imperative to generate substantial profits within truncated timeframes, a strategic objective that may not invariably harmonize with the provision of superior quality medical care.
