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Mark Cuban Calls for Breakup of Large Healthcare Conglomerates
Investor Mark Cuban posted on X that vertically integrated insurers and providers hold too much control over the U.S. healthcare system. He said regulators have not prevented consolidation in the past decade and urged support for legislation aimed at splitting up large medical companies.
May 25, 4:06 AM·1m read1 source
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Billionaire investor Mark Cuban on Sunday posted on X that major healthcare carriers and providers are abusing their market positions. He argued that vertically integrated insurers and providers have gained too much control over the U.S. healthcare system. Cuban stated that regulators, including the Federal Trade Commission, have not stopped consolidation over the past decade.
Cuban criticized lawmakers for not supporting the bipartisan "Break Up Big Medicine" bill introduced by Sen. Josh Hawley (R-MO) and Sens. Elizabeth Warren (D-MA). He claimed several Democratic senators privately supported the legislation but were reluctant to endorse it publicly unless more Republicans joined.
"Other than Josh, not a single Republican senator I have talked to has the guts to stand up for it," Cuban wrote. Cuban also wrote that antitrust laws exist for a reason and that less government involvement in healthcare cannot occur until the conglomerates are broken up.
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