Whistleblower complaints have raised questions about private equity giant TPG’s ability to manage five hospitals and dozens of clinics in Kenya, Nigeria and Pakistan on behalf of investors, including the Gates Foundation. The saga has cast a shadow over the strategy of development banks and philanthropists to lean on for-profit companies to improve health care in poorer nations. TPG says it has focused on investing proceeds back into the hospital chain, rather than distributing any money to investors. Bloomberg’s Simon Marks reports.
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