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by jchallis
226 days ago
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Classic PE healthcare playbook hitting a wall: governance red flags (board resignations over antitrust violations), Medicaid exposure nobody’s buying their hedge on, and 5x leverage on a home health rollup that can’t get financing done at any price. Market’s saying no for good reason. When Goldman can’t get your $2.5B home healthcare deal done in this market, and you need to come back with audited financials hoping for better conditions… the market’s already told you everything you need to know. |
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