What is Legacy Hospital Partners?
Legacy Hospital Partners, Inc. (LHP) is a newly created investment company that exists to purchase stakes in and operate hospitals in order to turn a profit for its investors. Based in Plano, Texas, and bankrolled principally by a Canadian pension fund eager for financial returns, it is run by former executives of for-profit hospital operators Triad Hospitals and Columbia HCA, which was the target of a widely publicized federal investigation into Medicare and Medicaid fraud in recent years. Their investment arrangement with Hackensack University Medical represents just one of 20 hospital acquisitions LHP plan to make in the next 5 years for the stated goal of making $3.5 billion in profit.
