Bill > H7720

This bill, titled the "Rhode Island Healthcare Transaction Oversight Act," requires any healthcare entity with total assets, annual revenues, or anticipated annual revenues of at least $10 million to provide written notice to the Rhode Island Attorney General and the Department of Health at least 180 days before a "material change transaction," which includes mergers, acquisitions, changes in control, significant real estate deals, or the closure of facilities or essential services. The Attorney General and Department of Health will then conduct a review, which may include public hearings and a "cost and market impact review" (CMIR) to assess the transaction's effects on competition, prices, quality, access, workforce, and health equity in Rhode Island. They have the authority to approve, approve with conditions, or deny the transaction, and can impose conditions such as pricing controls or maintaining essential services. The parties involved bear the burden of proving the transaction will not significantly harm competition, costs, access, quality, or equity, and the state can recover review costs and impose daily civil penalties for non-compliance.

Business and Industry, Health and Social Services

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