Private Equity Took Over a Hospital. Then It Shuttered.

The Journal.

The Wall Street Journal

Daily News, Business News, News

4.2 • 5.3K Ratings

🗓️ 4 September 2025

⏱️ 17 minutes

🔗️ Recording | iTunes | RSS

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Summary

Get more information about our first-ever live show here! Tickets go on sale Friday, September 5 at 10am ET. A hospital in Chester, Pennsylvania was acquired by a private equity firm that leveraged it to make shareholders millions. Now the facility has had to close its doors, leaving the community reeling. WSJ's Soma Biswas takes us inside the hospital’s bankruptcy and Jessica Mendoza speaks to a local emergency services executive about the impact on the local community in Chester. Further Listening: - Why Private Equity Is Buying Up Car Washes - The Private Equity Lobby Wins Again Sign up for WSJ’s free What’s News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Hey, it's Ryan.
0:01.6	And Jess.
0:02.5	Before we get into today's show, we have something exciting to announce.
0:06.1	We are hosting our first ever live show in New York City.
0:09.6	We'll be at the Grand Mercy Theater on Tuesday, October 7th, and we want you to be there.
0:14.8	We'll have special guests, and I can promise you it'll be a fun night full of lively
0:18.6	conversations about money, business, and power.
0:21.7	And Jess and I will hang out after the show to mingle and meet people. It's going to be a great time.
0:26.4	Tickets go on sale this Friday, September 5th at 10 a.m. Eastern at bit.ly slash journal live
0:33.4	2.5. You can find the link in our show notes. Again, we'll be the Gramercy Theater in New York City on Tuesday, October 7th, and tickets
0:41.3	go on sale this Friday, September 5th.
0:44.0	Go to bit.ly slash journal live 25 to get your tickets.
0:49.4	We hope to see you there.
0:55.5	The city of Chester, Pennsylvania is the oldest city in the state.
0:59.9	It's nestled on the Delaware River, about half an hour from Philadelphia.
1:04.1	And for years, the community there has struggled with socioeconomic issues.
1:08.3	Half the population lives at or below the poverty line, an incredible number,
1:12.5	38% or so people are on Medicaid.
1:16.0	That's Shane Wheeler, who runs VSM Emergency Medical Services, a nonprofit in the area.
1:22.6	The disease rate there is insane, you know.
1:26.1	It's just, it's a rough, it's a really, really bad place with regards
1:30.1	to health care. Things got even worse in May when the last local hospital shut its doors.
	...

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