Von einem Real Estate Investment Trust (REIT) erworbene US-Krankenhäuser waren mit einem höheren Risiko einer Insolvenz oder Schließung verbunden als Krankenhäuser, die nicht von einem REIT übernommen wurden. Die Besorgnis wächst, dass gewinnorientierte Krankenhausbesitzer REITs als Strategie nutzen, um Vermögenswerte von Krankenhäusern abzuziehen, um Renditen für Investoren zu erwirtschaften.

Hospitals acquired by real estate investment trusts associated with greater risk of bankruptcy, closure

**Real estate investment trust (REIT)-acquired U.S. hospitals were associated with a greater risk of bankruptcy or closure than non-REIT-acquired hospitals**, according to a new study led by researchers at Harvard T.H. Chan School of Public Health. The findings also showed that REIT acquisition of hospitals had no significant impact on quality of care or clinical outcomes.

The study was published Thursday, Dec. 18, 2025, in the BMJ.

When a hospital sells its real estate to a REIT, the REIT then functions as a landlord with the hospital as a tenant. This practice has become increasingly common among private equity- and corporate-owned hospitals in the U.S. Proponents argue that the profits from a hospital’s sale of its real estate to a REIT can be used to improve clinical care. But **concern has grown that for-profit hospital owners are using REITs as a strategy to strip assets from hospitals to generate returns to investors**.

The findings showed that REIT acquisition had no significant impacts on quality of clinical care or patient outcomes—but had a significant negative impact on a hospital’s finances. REIT-acquired hospitals had a 5.7-fold higher risk of closure or bankruptcy compared with non-REIT acquired hospitals.

For those interested, here’s the link to the peer reviewed journal article:

https://www.bmj.com/content/391/bmj-2025-086226