If a proposed bill by the California Senate is passed, parties to certain post-pandemic healthcare transactions involving private equity groups, hedge funds, healthcare systems, facilities, and provider groups would need to plan for and obtain regulatory approval from the California attorney general. California Attorney General Xavier Becerra and Senator Bill Monning announced on May 13, 2020, that Senate Bill 977 (SB 977) passed out of the Senate Health Committee. SB 977, titled “Health care system consolidation: Attorney General approval and enforcement,” aims to regulate post-pandemic healthcare transactions by requiring approval from the California attorney general (AG) of certain affiliations or acquisitions involving private equity groups, hedge funds, healthcare systems, facilities, and provider groups.
Read the full article: California Could See Regulatory Scrutiny of Post-COVID-19 Healthcare Transactions //
Source: https://www.lexology.com/library/detail.aspx?g=1e28c09d-34a7-4419-a5ec-05d4464059e5