This paper investigates the short-term effects of hospital acquisitions on care access, care processes, and health outcomes for Medicaid beneficiaries. With ongoing hospital consolidation widening the gap between private health insurance (PHI) and Medicaid prices in the US, a critical question arises: do hospitals potentially neglect Medicaid beneficiaries in favor of the more lucrative PHI patients? My study finds that, in the short term, hospital acquisitions do not significantly impact Medicaid beneficiaries in terms of care access, care processes, or health outcomes. These findings imply that while hospital acquisitions may alter market dynamics and PHI prices, they do not detrimentally affect care for Medicaid patients immediately following a hospital acquisition. Policymakers should consider these results when evaluating the broader implications of hospital consolidations, especially regarding healthcare equity and the equitable distribution of healthcare resources.