Becker's Healthcare December 16, 2025
The last several years have seen a significant expansion of private equity activity in healthcare, and with that, a new wave of state-level legislation aimed at placing more scrutiny on PE deals.
Here are five states that implemented or proposed new healthcare private equity laws in 2025:
1. California
In October, Governor Gavin Newsom signed a piece of legislation that codified restrictions on PE firms and hedge funds from influencing the decision-making of physicians in the state. The law specifies that private equity firms, hedge funds and their affiliates may not interfere with the professional judgement of healthcare professionals in clinical decision-making, contractually or otherwise. This includes decisions about diagnostic tests, treatment options, patient volume or referral requirements.
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