California Senate passes bill mandating private equity firms to obtain AG consent before acquiring healthcare control, effective 2025.

California's Assembly Bill 3129 (AB 3129) has passed the Senate and awaits Governor Newsom's signature. The bill mandates private equity and hedge funds to notify and obtain consent from the Attorney General before acquiring control of healthcare facilities or providers, effective January 1, 2025. It includes specific exemptions and aims to enhance oversight amid growing concerns about the influence of private equity on healthcare quality and costs.