Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on the day's biggest business stories

Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Stay on top of the latest market trends

Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Illustration: Lazaro Gamio/Axios

Private equity companies have borrowed at least $1.5 billion from the federal government through programs intended to provide emergency funding to struggling health care companies during the coronavirus pandemic, Bloomberg reports.

Between the lines: Some of the hospitals, clinics and treatment centers benefiting from the Medicare loans — which could plausibly end up being forgiven — are owned by the richest investment firms.

Details: Some of the firms that have received such loans are swimming in cash.

  • KKR, which has received $60 million via subsidiaries of KKR-owned companies, has more than $58 billion of cash to invest.
  • Apollo Global Management started the year with about $46 billion, but its health care facilities received at least $500 million in loans.
  • Steward Health Care System, owned by Cerberus Capital Management, received at least $400 million. Cerberus was attempting last month to grow one of its investing funds to $750 million. Steward physicians announced yesterday that they are buying the company from Cerberus.

The big picture: The HHS programs making the loans were expanded by Congress earlier this year to help health care companies financially slammed by the pandemic, as elective care skid to a halt.

  • CMS administrator Seema Verma told Bloomberg that the agency's goal was to get the money out quickly. "We don't look into ownership, what we look into is are they Medicare-enrolled providers," Verma said.
  • KKR has been in the political spotlight for months for its role in the surprise billing debate.

Go deeper: Private equity's slow creep into doctors' offices

Go deeper

Sep 11, 2020 - Health

We're numb to the coronavirus

Data: Newswhip; Chart: Axios Visuals

We're over COVID even if it isn't over us.

Why it matters: Six months into the pandemic, online engagement around coronavirus stories has dropped off markedly and continues to reach new lows even as the pandemic continues, according to data from NewsWhip provided exclusively to Axios.

CDC official: Pandemic "explosion" of antibiotic resistance not seen

Illustration: Sarah Grillo/Axios

Despite concerns over antimicrobial resistance flourishing during the pandemic as doctors use all their tools to help patients fight COVID-19, early indications are that their efforts may not be causing a large increase, a CDC official tells Axios.

Why it matters: AMR is a growing problem, as the misuse or overuse of antibiotics creates resistant pathogens that cause more than 2.8 million infections and 35,000 deaths annually in the U.S.