Private Equity in the Hospital Industry

That is the title of a recent paper by Gao, Kim, and Sevilir (2025). The authors examine 1218 hospital merger and acquisition (M&A) deals in the hospital industry between 2001 and 2008. The authors focus solely on M&A deals with for-profit entities as they argue that they want to examine whether private equity (PE) specifically…

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Do orphan drugs deliver more survival gains per patient than non-orphan drugs?

Conventional wisdom holds that orphan drugs treat rare (by definition) and more severe diseases. Because they treat diseases with significant unmet needs, their health benefits per person are large. But are they really? Does conventional wisdom align with the evidence? To answer the question myself and colleagues at FTI Consulting, including co-author Marie Steele-Adjognon, conducted…

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‘MAHA Report’ Calls for Fighting Chronic Disease, but Trump and Kennedy Have Yanked Funding

The Trump administration has declared that it will aggressively combat chronic disease in America. Yet in its feverish purge of federal health programs, it has proposed eliminating the National Center for Chronic Disease Prevention and Health Promotion and its annual funding of $1.4 billion. That’s one of many disconnects between what the administration says about…

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