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Health Populi December 18, 2024
Bill to regulate private equity passes California legislature, heads to Newsom’s desk
HealthExec September 4, 2024
A proposed law in California meant to curb wanton private equity buyouts in healthcare has passed the state Senate and now heads to the desk of Governor Gavin Newsom.
AB 3129 empowers the state’s Attorney General to review and veto investments from private equity firms that are deemed to be disadvantageous to consumers and patients. The bill would cover hospitals, health systems, physician groups, long-term care facilities and other healthcare entities operating in the state.
The passage of the bill received immediate praise from Health Access California, a group that advocates for affordable and accessible care in the state. The group cited a 2019 study from the California Health Care Foundation that found that nearly a third of major...
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