Senator Elizabeth Warren is raising alarms over Sycamore Partners' proposed $10 billion acquisition of Walgreens, citing potential risks to healthcare access in Massachusetts. She requested answers to questions regarding store closures, real estate sales, and employee layoffs, with concerns that the deal's heavy reliance on debt could lead to bankruptcy. Warren's letter reflects larger issues with private equity takeovers in healthcare, recalling the adverse effects seen with Steward Health Care. She demands assurances that Sycamore will not take profits from Walgreens until it is profitable, aiming to protect both consumers and workers.
Sen. Elizabeth Warren's letter addresses concerns over Sycamore Partners' $10 billion acquisition of Walgreens, warning it could threaten healthcare access in Massachusetts.
Warren demands answers on potential store closures and job cuts, emphasizing the risks of private equity takeovers on healthcare access and employee security.
The senator's concerns highlight past failures of private equity, such as Steward Health Care’s collapse, which led to significant closures and reduced services for patients.
Warren insists on commitments from Sycamore to avoid dividends until Walgreens is profitable, stressing the need to protect workers and consumers from financial exploitation.
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