Lexology February 27, 2024
California Attorney General (AG) Rob Bonta and Assembly Speaker Pro Tempore Jim Wood have introduced new legislation addressing private equity health care deals. The bill, A.B. 3129, would grant the AG oversight over private equity and hedge fund acquisitions of health care facilities.
Specifically, the bill would require private equity companies and hedge funds to provide written notice to the AG 90 days before an acquisition. The AG would then have the authority to extend this period to grant, deny, or impose conditions on the acquisition if it is deemed to have anticompetitive effects or creates issues with public access to health care.
The bill...
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