Investors extracted $400M from hospital chain that couldn’t pay for med supplies
By Peter Elkind with Doris Burke, ProPublica In the decade since Leonard Green & Partners, a private equity firm based in Los Angeles, bought control of a hospital company named Prospect Medical Holdings for $205 million, the owners have done handsomely. Leonard Green extracted $400 million in dividends and fees for itself and investors in its fund — not from profits, but by loading up the company