GOP presidential hopeful Newt Gingrich's health care consulting company filed for bankruptcy Thursday. The Center for Health Transformation charged up to $200,000 annually to drugmakers, insurers and hospitals for Gingrich's advice and may have suffered after he stepped down to seek the GOP nomination for president, reports say.
The New York Times: A Company Gingrich Founded To Offer Health Care Advice Files For Bankruptcy
A consulting company founded by Newt Gingrich filed for bankruptcy on Thursday, an apparent casualty of Mr. Gingrich's stepping down from the business to run for the Republican presidential nomination. The company, the Center for Health Transformation, charged up to $200,000 annually to big drug makers, insurance companies and hospitals for Mr. Gingrich's advice, including what he had to say about working the corridors of Washington power, although Mr. Gingrich has insisted he was not a lobbyist (Gabriel, 4/6).
The Wall Street Journal: Gingrich Health Care Group Files For Bankruptcy.
Newt Gingrich’s well-known health care think tank has filed for Chapter 7 bankruptcy, according to federal court filings, shuttering the most profitable of Gingrich’s former enterprises and potentially putting a big piece of his net worth in jeopardy (Yadron and McKinnon, 4/5).
The Washington Post: Gingrich Health Care Think Tank Files For Bankruptcy Protection
The once high-flying health care think tank that Republican presidential hopeful Newt Gingrich started nearly a decade ago has filed for bankruptcy, its fortunes having sunk rapidly last year as its compelling leader turned his energies to the political campaign trail. The Center for Health Transformation had promoted private-sector solutions to America's skyrocketing health-care costs. It also became a source of significant cash for Gingrich and his wife, Callista. The Washington Post reported that the center took in $37 million in donations, primarily from big pharmaceutical and health care corporations, in its eight years in business (Leonnig, 4/5).
National Journal: Newt's Health Care Think Tank Goes Bankrupt
Much like Newt Gingrich's presidential campaign, his multi-million dollar Washington consulting empire is also crumbling. The Center for Health Transformation, Gingrich's health care think tank, filed for bankruptcy today, the Atlanta Business Chronicle reports. The center's website is down and a spokeswoman has not returned a call. Newt Inc. appears dead. If Gingrich was still in the hunt for the GOP nomination this would be big news. But with his campaign on life support, it’s unlikely to matter much. For the campaign's part, it's already pointing out that Gingrich divested himself from the center in May and had nothing to do with its operations since. But that, of course, raises questions about how well the center was run to begin with if it couldn't survive a year without him (Frates, 4/5).