Jayapal, Markey Introduce Updated Legislation to Set Strong Guardrails for Private Equity in Healthcare

July 24, 2026 - 03:55

Washington (July 23, 2026) - Congresswoman Pramila Jayapal and Senator Edward J. Markey have reintroduced the Health Over Wealth Act, a bill aimed at increasing oversight of private equity firms and for-profit companies that own hospitals, nursing homes, and mental health facilities. The legislation seeks to impose new transparency requirements and operational guardrails on these entities.

Under the proposed law, private equity-owned health care providers would have to disclose ownership structures, financial arrangements, and how profits are distributed. The bill also targets practices like cost-cutting that critics say reduce patient care quality. Supporters argue that the current system allows financial firms to prioritize returns over patient safety, particularly in emergency rooms and long-term care.

The reintroduction follows a series of high-profile closures and service reductions at hospitals acquired by private equity groups. Jayapal stated that the legislation is necessary to prevent corporate interests from undermining access to care. Markey added that the bill would help ensure that decisions about patient health are not driven solely by profit margins.

The Health Over Wealth Act has been endorsed by several labor unions and consumer advocacy groups. It faces an uncertain path in a divided Congress, but sponsors hope the growing public scrutiny of health care consolidation will build momentum for the measure.