Private equity firms and hedge funds will have to provide information to state officials when investing in California health-care businesses under legislation signed Saturday by Gov. Gavin Newsom.
The law (AB 1415) requires firms to comply with merger notice requirements when buying or selling California health-care facilities, which could subject the transactions to regulatory scrutiny.
Democratic lawmakers and consumer advocates have raised concerns that consolidation in the sector is driving up costs and undercutting patient care.
Hospital officials asked Newsom to veto the measure, arguing it would make it harder to raise needed funding.
Newsom vetoed similar legislation ...
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