HIP and GHI merger. help me shed some light about my old employer. What's up with them?

So about five years ago I worked for HIP and they were eating up a bunch of health care companies. I recall Vytra & Conneticare and a few others. Now I just recently caught wind of GHI and HIP creating the largest one around here. Neither are public companies but I recall HIP really wanting to go forward with going public. The only problem was that they couldn't keep their books up correctly. One month they'll have huge profits, the next month they'll have losses.

These aren't facts and I have to say the building I use to work in was ridiculously nice when we moved downtown to 55 Water Street.