California passes bill targeting PE healthcare investments

Becker's Healthcare September 5, 2024
Ariana Portalatin

The California legislature recently passed a bill requiring private equity groups and hedge funds to give written notice, and in certain cases obtain consent, before investing in the state’s healthcare industry.

Seven things to know:

1. Assembly Bill 3129 would require PE groups and hedge funds to provide written notice to the California attorney general for certain investments in the state’s healthcare industry beginning Jan. 1.

2. Activities covered under the bill include acquisitions or a change of control between a PE group or hedge fund and certain types of healthcare practices and facilities.

3. Notice and consent requirements vary depending on the size and type of the practice or...

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