Bill > SB494

This bill modifies Maryland's healthcare regulations by repealing an exemption from the certificate of need (CON) requirement for certain mergers, meaning more healthcare facility mergers will now need prior approval from the Maryland Health Care Commission (MHCC). It also introduces a new process for "material change transactions," which are significant events like mergers, acquisitions, or changes in control involving healthcare entities with at least $10 million in assets or revenue. Healthcare entities must notify the MHCC and the public at least 90 days before completing such a transaction, and the MHCC will then conduct a public interest review to determine if the transaction could negatively impact the cost, quality, access, or equity of healthcare services, with the potential for approval, conditional approval, or denial. The bill also defines "market power" as having 30% or more market share in a service area and outlines criteria for the MHCC's Executive Director to consider when deciding whether to conduct a public interest review, including market consolidation, changes in market share, and potential impacts on healthcare.