AMULET CAPITAL PARTNERS·PE HEALTHCAREL CATTERTON·PE HEALTHCARELEE EQUITY PARTNERS·PE HEALTHCAREWEBSTER EQUITY PARTNERS·PE HEALTHCAREALTAS PARTNERS·PE HEALTHCAREARES MANAGEMENT·PE HEALTHCAREOAK HC/FT·VC HEALTHCAREINTANDEM CAPITAL PARTNERS·PE HEALTHCAREKKR & CO.·PE HEALTHCAREGED CAPITAL·PE HEALTHCAREPERCEPTIVE ADVISORS·VC HEALTHCAREGV (GOOGLE VENTURES)·VC HEALTHCAREMORGAN STANLEY CAPITAL PARTNERS·PE HEALTHCARESAGARD CAPITAL·PE HEALTHCARETA ASSOCIATES·PE HEALTHCAREBPEA EQT·PE HEALTHCAREASTORG·PE HEALTHCARENORDIC CAPITAL·PE HEALTHCAREPARTNERS GROUP·PE HEALTHCAREAMULET CAPITAL PARTNERS·PE HEALTHCAREL CATTERTON·PE HEALTHCARELEE EQUITY PARTNERS·PE HEALTHCAREWEBSTER EQUITY PARTNERS·PE HEALTHCAREALTAS PARTNERS·PE HEALTHCAREARES MANAGEMENT·PE HEALTHCAREOAK HC/FT·VC HEALTHCAREINTANDEM CAPITAL PARTNERS·PE HEALTHCAREKKR & CO.·PE HEALTHCAREGED CAPITAL·PE HEALTHCAREPERCEPTIVE ADVISORS·VC HEALTHCAREGV (GOOGLE VENTURES)·VC HEALTHCAREMORGAN STANLEY CAPITAL PARTNERS·PE HEALTHCARESAGARD CAPITAL·PE HEALTHCARETA ASSOCIATES·PE HEALTHCAREBPEA EQT·PE HEALTHCAREASTORG·PE HEALTHCARENORDIC CAPITAL·PE HEALTHCAREPARTNERS GROUP·PE HEALTHCARE
The system:ConcernPE / VC backedWatchPublicly traded · HospitalAlignedNonprofit · Physician-owned · VerifiedUnknownNot yet verified↳ How we grade
Who OwnsYour Care?
Public document · Phase 1 · May 2026

Methodology

Everything on this site is built from the public record. This page explains where the data comes from, how we sort each provider into a tier, and what those tiers do and don't mean.

Overview

Who Owns Your Care is a public-record database tracking the ownership of US healthcare providers. We start at the storefront, the clinic on your street, and walk backward through holding companies, management partnerships, fund vehicles, and the limited partners who put up the capital.

For each provider, we publish: who runs it day-to-day, who legally owns it, who owns that owner, and so on, as far as the public record permits. Every link in the chain cites a primary or corroborating source.

Note
The project is non-commercial and not affiliated with any provider, fund, or advocacy group. We don't sell ad space. We don't accept money from anyone whose records we publish.

How we tier ownership

Every provider sits in one of three tiers, or is flagged as unknown until we have enough on the public record to place it. Tiers carry the editorial position. The specific type (PE-backed vs. VC-backed, nonprofit vs. physician-owned) appears on the badge for anyone who wants the precise category.

Concern
3 types
Ownership structures with a defined exit timeline (typically 5 to 7 years). Even when current behavior is fine, the pressure to generate returns to outside investors is real and the patient is not the customer.
Watch
2 types
Quarterly earnings or system-wide priorities can push patient experience around. Not the same pressures as PE/VC, but still not patient-aligned by default.
Aligned
3 types
The people delivering care, or a mission-driven entity, hold the equity. No outside investor on an exit clock. The closest the system gets to patient-aligned.
Ownership not yet verified
1 type
We have not yet verified ownership for this provider. This is an honest default, not a failure state. Help us by submitting a tip, or, if you work here, declare your ownership status.

The eight types

The badge on every provider names a specific type. Color comes from the tier; the label tells you the category.

PE-backed
concern
VC-backed
concern
Family-office-backed
concern
Publicly traded
watch
Hospital system
watch
Nonprofit
aligned
Physician-owned
aligned
Verified independent
aligned
Ownership not yet verified
unknown

Unknown is the default

We start every record at unknown. We don't promote a provider out of unknown until we can cite a public filing or a verified self-attestation.

This is intentional. The old default, “independent unless proven otherwise,” was a lie of convenience. Most providers are not independent. Most are not yet documented either way. Unknown tells the truth.

Note
Every unknown page invites two kinds of contribution. Anyone can submit a tip with a public-record link or a note. Clinicians and authorized staff can verify a work-email and declare the ownership themselves.

Data sources

Each link in an ownership chain is backed by at least one primary source. Corroborating sources confirm timing and structure but never establish ownership on their own.

SEC Form ADV
Primary
PE sponsors registered as investment advisers disclose advisory roles, including portfolio companies, on Part 1A.
SEC Form D
Primary
Fund vehicles file Form D for private offerings; we use it to identify the fund and the offering size.
State business filings
Primary
Articles of incorporation / DBA registrations from each state Secretary of State or equivalent.
Federal & state court records
Primary
PACER, state e-filing systems, regulatory enforcement databases.
M&A press releases
Corroborating
Confirm acquisition timing and structure; cited alongside primary sources, never as standalone evidence of ownership.
Public pension commitment reports
Corroborating
State pension and endowment annual reports disclose limited-partner commitments to specific funds.
FDA HCT/Ps Establishment Registration
Primary
Identifies the legal owner of registered tissue establishments (egg, sperm, embryo storage).
CMS NPI Registry (NPPES)
Primary
NPI Type 2 records identify owning organizations for medical practices. Phase 3 expansion.

Reconstructing the chain

A typical ownership chain spans four to six entities. We build each chain by:

  1. Confirming the provider's legal business name and license number with the state.
  2. Identifying any “doing business as” (DBA) registrations.
  3. Tracing the parent LLC or PLLC through state corporate registries.
  4. Matching that entity to a platform or roll-up via M&A press releases, court filings, or deal databases.
  5. Locating the PE sponsor on Form ADV or SEC adviser records.
  6. Identifying the fund vehicle on Form D, and the LPs from public-pension and endowment commitment reports.

When a step cannot be confirmed by the public record, we leave it blank rather than guess. A grayed-out node in an ownership trace means “we believe this link exists but can't yet cite it.”

What we don't claim

We want to be precise about what a tier does and does not say:

  • It is not a clinical-quality rating.A Concern-tier provider may have excellent individual clinicians; an Aligned-tier provider may have a doctor you wouldn't choose.
  • It is not a prediction.Today's tier doesn't guarantee tomorrow's. Ownership can change.
  • It is not an attack on any individual. We classify ownership structures and documented patterns, not the people who work inside them.
  • It is not, today, a measure of behavior. Within Concern tier especially, behavior varies widely. When the public record contains evidence (post-acquisition pricing, complaints, regulatory action), we surface it as an editorial note under the badge. When it doesn't, the tier stands on its own.
Note
If a provider's tier feels wrong to you given your personal experience, we want to hear about it. Reader tips often surface signals the public record misses.

Corrections and tips

If you spot an error (a wrong date, a missing link in a chain, a misclassified provider) please send a correction via the form linked on every detail page. We log every correction request and respond before publishing the change.

If you have a tip (you work or worked at a provider, you see a deal that hasn't been written up, you have documents that would close a gap) we accept submissions over a secure channel.

Submit a tip

About the project

Who Owns Your Care is an independent public-interest research project. It is run by a small group of researchers, journalists, and clinicians who believe patients have a right to know who profits from their care.

The project has no commercial relationship with any provider, fund, or advocacy organization. The database is free to read. Code and source citations are open.