Bill > HB1460

This bill, titled the Health System Protection Act, requires that certain transactions involving health care entities within the Commonwealth receive approval from the Department of Health and the Office of Attorney General before they can be finalized. Specifically, any "covered transaction," which includes the sale, lease, or change in control of a health care entity or a significant reduction in its equity capital, involving a "covered entity" (such as a for-profit entity or private equity firm) must be reported to the Attorney General and the Department of Health. A 60-day review period, which can be extended, is established for these transactions, during which the Attorney General will assess if the transaction is "against the public interest," meaning it could significantly reduce competition, increase costs, lower quality of care, or reduce access to healthcare services, especially in underserved communities. The Attorney General may also hold public hearings to gather input from affected communities and stakeholders. If a transaction is deemed against the public interest, the Attorney General can seek to block it in court or enter into a voluntary agreement with the parties to mitigate the negative impacts, with ongoing monitoring and associated costs borne by the covered entity. All information submitted during this review process is considered confidential.