It is estimated that private equity (PE) firms invested around $200 billion into the US health care industry in the past decade, including a large fraction in hospitals. However, there are opposing views regarding the growing presence of PE firms in the hospital industry. Proponents claim that they provide hospitals with much-needed managerial expertise and operational reforms, which help turn around struggling hospitals. Opponents claim that PE firms load hospitals with debt, sell their assets, lay off workers, and, in some cases, close hospitals down entirely. This debate is particularly important given the economic significance of the health care industry: It contributes to nearly 20 percent of US gross domestic product, provides critical health care to local communities, and ranks among the top 10 job providers in the United States.