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LifePoint hospital execs to receive controversial golden parachutes

A sign for a hospital's clinical decision unit.
LifePoint operates rural hospitals. Photo: Mindy Schauer/Digital First Media/Orange County Register via Getty Images

Shareholders of LifePoint Health, a for-profit hospital chain that is getting acquired by a private equity firm, overwhelmingly voted against $120 million worth of golden parachute pay packages. But executives will still get those buyouts, Modern Healthcare reports.

The big picture: Private equity firms have bought a lot of health care companies lately. Although golden parachutes are standard and non-binding shareholder advisory votes can't overturn employment contracts, the payouts don't exactly line up with the industry's complaints that they're barely scraping by on razor-thin profit margins.

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