Bain Capital closed its deal for Evident, a life sciences company formerly owned by Olympus. Evident was once Olympus Scientific Solutions business. Yahoo Finance reported:
At Evident, we are guided by the scientific spirit—innovation and exploration are at the heart of what we do. Committed to making people’s lives healthier, safer, and more fulfilling, we support our customers with solutions that solve their challenges and advance their work—whether it’s researching medical breakthroughs, inspecting infrastructure, or exposing hidden toxins in consumer products.
Several Carlyle Group affiliates could have used help identifying hidden toxins in consumer products. Infant milk formula maker Yashili had toxic melamine in its products.
At least six children died and 300,000 others were poisoned by milk formula tainted with melamine in 2008.
Carlyle affiliate Oriental Trading sold children's rings made with toxic cadmium.
A spokeswoman for the ring importer identified by the CPSC in Wednesday’s recall - Fun Express Oriental Trading Company, of Omaha, Neb. - did not return calls or an e-mail seeking comment. The Carlyle Group, a private investment firm that owns Oriental Trading Company, referred a request for comment to the company.
Carlyle now owns Medline, a giant healthcare supplier, as well as dozens more healthcare companies. Might it need Evident's service to keep toxins out?
Carlyle affiliates failed patients at LifeCare Hospitals and ManorCare, before sending both companies into bankruptcy.
Bain Capital drove Toys R Us into bankruptcy. Toys R Us creditors sued citing:
...nearly $18 million in fees paid by Toys R Us to executives at Bain Capital, KKR and Vornado and Brandon from 2014 to 2017 while they served on the company's board. In addition, the lawsuit alleges Brandon paid himself $2.8 million in bonuses days before the Chapter 11 filing, knowing the payout wouldn't be approved in bankruptcy court.
Employees shared concerns about their treatment by private equity underwriters (PEU). It was culturally toxic.
Many things are evident to people who've worked for the greed and leverage boys. A new book chronicles some of the damage done by the PEU boys.
Healthcare will not get cheaper or better as greedy management drives away talented physicians, nurses, clinical and support staff. Someday, that will become evident.
