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https://doi.org/10.1111/tesg.12519
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The Global Wealth Chains of Private-Equity-run Physician Practices
[journal article]
Abstract Currently, numerous physician practices in industrial and emerging countries are being taken
over by private equity firms and integrated into novel physician corporations. This involves
private equity firms producing a global wealth chain (GWC) between their investors and the
target asset, using ... view more
Currently, numerous physician practices in industrial and emerging countries are being taken
over by private equity firms and integrated into novel physician corporations. This involves
private equity firms producing a global wealth chain (GWC) between their investors and the
target asset, using offshore financial centres to facilitate tax-avoiding reflux of capital. Moreover, they are opening up ambulatory health care as an asset for capital investment by overcoming previous market barriers to ambulatory health care via a legal construct. In this paper, we trace the spatial links of these finance-side and sector-specific corporate chains based on a capital flow analysis of private equity takeovers of Medical Care Centres (MCCs) in Bavaria, Germany. With our heuristics of a double-layered GWC, which enables the extraction of value from the German health system, we contribute to the emerging GWC debate that aims to conceptualise the complex and often opaque spatialisations of financialisation processes.... view less
Classification
Financial Planning, Accountancy
Free Keywords
private equity; global wealth chains; health care; offshore financial centre; Germany; financialisation
Document language
English
Publication Year
2022
Page/Pages
p. 331-347
Journal
Tijdschrift voor Economische en Sociale Geografie / Journal of economic and social geography, 113 (2022) 4
ISSN
0040-747X
Status
Postprint; peer reviewed
Licence
Creative Commons - Attribution 4.0
With the permission of the rights owner, this publication is under open access due to a (DFG-/German Research Foundation-funded) national or Alliance license.