Political Quotes

“Mr. Speaker, this week, Prospect Medical Holdings, which owns Our Lady of Fatima Hospital in North Providence and Roger Williams Medical Center in Providence, filed for bankruptcy, threatening to undermine Rhode Island's already-stressed healthcare system. Unfortunately, this is a day that many of us feared would come because, for years, Leonard Green & Partners, the private equity firm that owned Prospect Medical, and executives of the company engaged in outrageous profiteering, buying up hospitals and extracting hundreds of millions of dollars of management fees and dividends, money that should have been spent on patient care. In the decade that private equity firm Leonard Green owned Prospect Medical, they extracted over half a billion dollars from the hospitals they owned. Their partner, Prospect CEO Sam Lee, personally made more than $100 million, buying luxury properties for himself at the same time that he shut down emergency rooms. Shameful. When I was State treasurer in 2020, I sent a letter to Leonard Green, expressing my frustration at their unethical practices and the impact they were having on healthcare in Rhode Island. In response, they put out a statement insisting that all was well and that the operations at Fatima and Roger Williams were doing just fine.…”