Legislation aims to increase scrutiny of private equity healthcare acquisitions

Legislation aims to increase scrutiny of private equity healthcare acquisitions
McKnights Senior Living, by Lois A. Bowers; 2/27/24
Legislation introduced ... in [California] would give the attorney general oversight of private equity and hedge fund acquisitions of long-term care and other healthcare facilities. Backers of AB 3129 say that it would “safeguard fair competition and root out anticompetitive practices by dominant corporations” as well as “ensure that the acquisitions are in the public interest.” Under the bill, the AG could grant, deny or impose conditions to a change of control or acquisition between a private equity group or hedge fund and a long-term care or other healthcare facility.