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Public-employee retirement funds in California, New York, Oregon and other states have heavily invested with a private-equity firm, KKR & Co., that’s been buying up companies known for demanding steep payouts for emergency medical treatment and hospital stays that may not have been entirely covered by a person’s health plan. (Photo: Getty)

(Bloomberg) –Several states have barred medical providers from shocking patients with surprise bills for thousands of dollars, but pensions in those same states are poised to profit from the practice.

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