The Catholic hospital system Ascension is running a Wall Street-style private equity fund
WASHINGTON — America’s largest Catholic hospital system, Ascension, has quietly built out a strikingly unusual private equity operation worth more than $1 billion, a STAT investigation has found.
The investigation reveals how far a wealthy, religious, tax-exempt health system can migrate toward behaving like a Wall Street firm — and how little such a system has to disclose about whether or how its profits are benefiting patients.
