California Assembly Passes Bill Restricting Private Healthcare Acquisitions

On May 22, the California Assembly passed a bill (AB 3129), which would have a substantial impact on changes of control and acquisitions of healthcare facilities and provider groups by private equity groups or hedge funds. The bill would require at least 90 days notice and California Attorney General approval for such changes of control and acquisitions. The bill is currently being considered by the California Senate, so there is still time for stakeholders to participate in the legislative process. AB 3129 reflects the increasing efforts by the state of California to oversee and regulate healthcare transactions involving private equity groups or hedge funds.

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Source: https://www.lexology.com/library/detail.aspx?g=7a2a0bfc-fc5e-40df-b295-35d69ffd28bf

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