Pros
Interesting problems to solve, close to patients and clinicians, some smart people pass through while doing PHD work, decent work-life balance.
Cons
Management has ego problems, no experience in the private sector, and are unable to tell the difference between good work and bad work. The result is that a lot of their employees are really incompetent, and anyone who is talented and diligent will soon be demoralized by the race to the bottom.