California bill would impose more controls on private equity investments in healthcare

McKnight’s Senior Living April 9, 2024
Kathleen Steele Gaivin

A bill under consideration by the California State Legislature would “add scrutiny on private equity companies when considering healthcare investments, amplifying the pressure already imposed by enforcement agencies in California and throughout the country,” attorneys from Polsinelli told the McKnight’s Business Daily on Monday.

The legislation, AB 3129, introduced in February 2024, would require private equity firms and hedge fund organizations to give prior notice of acquisitions or changes in control to the state’s attorney general. The bill would also require the attorney general to grant or deny the waiver within 60 days of notice. The attorney general would have the authority then to grant, deny or impose conditions to a proposed transaction.

In addition, the bill would limit...

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