A Carlyle Group press release stated:
Global investment firm Carlyle (NASDAQ: CG) announced the formation of Atmas Health in partnership with long-time healthcare executives Kieran Gallahue, Jim Hinrichs, and Jim Prutow and Carlyle’s Global Healthcare team.
The formation of Atmas Health is a continuation of Carlyle’s long-term global commitment to the global healthcare sector, in which it has deployed over $22 billion of capital. Carlyle’s significant experience investing in medical products, tools, instruments, and contract manufacturing businesses includes Medline, Ortho Clinical Diagnostics, Resonetics, Unchained Labs, amongst others.Carlyle's Global Healthcare team makes no mention of ManorCare, the giant nursing home it drove into bankruptcy. Former Carlyle CEO Kewsong Lee drove the formation of a COVID-19 portfolio.
With Lee effectively fired Carlyle has turned to outsiders to grow its healthcare portfolio. Look for this group to leverage federal funds to re-shore pharmaceutical and life science manufacturing.
KKR's ownership of HCA added billions in unnecessary costs to America's absurdly expensive healthcare nonsystem. Making healthcare more expensive is the PEU way.
Update 10-10-22: Hospital anesthesia services have been made worse by PEU ownership.
But some physicians and patient advocates say the health care investments of private-equity firms and their drive to reap relatively short-term profits are inconsistent with putting patients first. Independent academic studies find that private equity’s laser focus on profits in health care operations can result in lower staffing levels at hospitals and nursing homes.
Higher patient costs, less staffing, placing patients at greater risk for harm and injury...it's the PEU way.
Update 3-30-23: Carlyle is using Atmas Health to bid on Medtronic's patient monitoring and respiratory interventions businesses.
