Bill > SB1271

This bill prohibits for-profit entities, such as corporations, limited liability companies, private equity firms, investment banks, or hedge funds, from owning or managing hospitals and health systems in the Commonwealth of Pennsylvania. The bill defines "health system" as an entity owning and operating one or more hospitals, hospice agencies, or nursing homes, and "hospital" as an institution licensed in Pennsylvania as a general, mental, chronic disease, or other type of hospital. The prohibition does not apply to hospitals or health systems already owned or managed by for-profit entities on the effective date of the bill, which is 60 days after enactment.