Bloomberg Business

Private Equity Is No Longer a Reliable Last Resort for Troubled Hospitals

When private equity firm Prospect Medical Holdings Inc. bought a cash-strapped hospital outside Philadelphia, it promised a return to profitability that would ensure the long-term sustainability of a facility that thousands of people counted on. Seven years later, Delaware County Memorial Hospital is closed, Prospect is in debt and a community group is suing.

Deep Sea Submersible to Take India Four Miles Underwater

India is building its first manned submersible to study the deep sea and conduct a biodiversity assessment, an announcement that comes days after the country successfully landed a spacecraft near the moon’s south pole.

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