It’s not comparing apples to apples or even oranges. More like apples to week old bread… if you’re acquiring companies that need massive restructuring (and sometimes that means bankruptcy proceedings) of course they will have more bankruptcies. Citing that just shows you don’t really understand the industry.

Outcomes at the healthcare companies have improved at many PE backed firms.

“Findings: In this cross-sectional study of more than 21 million Medicare beneficiaries with 5 different acute medical conditions who were hospitalized at short-term acute care hospitals, PE acquisition was associated with significantly lower inpatient mortality (−1.1 percentage points) and lower 30-day mortality (−1.4 percentage points) among patients admitted with acute myocardial infarction. However, PE acquisition was not associated with significant differences in other dimensions of quality and spending or with differences across other medical conditions.”

Source: https://jamanetwork.com/journals/jamanetworkopen/fullarticle/2791727