Bill > HB2548

This bill strengthens health care market standards by requiring entities involved in significant transactions, such as mergers, acquisitions, or contracting affiliations (which means entities negotiating jointly or one negotiating on behalf of another over rates for health care services), of hospitals, hospital systems, or provider organizations (groups representing seven or more health care providers) to notify the Attorney General at least sixty days before the transaction takes effect. This notification requirement applies to transactions that result in a material change, including changes in majority ownership or control, sales of the majority of assets, or conversions from nonprofit to for-profit status. A filing fee, based on the transaction's value, will be assessed by the Attorney General, with exceptions for certain state-owned or public hospital district affiliations. The Attorney General can request additional information, which may pause the transaction's completion for thirty days after compliance. Information submitted to the Attorney General will be kept confidential, though a quarterly public notice of pending and completed transactions will be posted online. The bill also mandates the Attorney General to notify the Secretary of State if a nonprofit corporation is involved in certain material changes.