Private equity firms and hedge funds would face greater scrutiny in buying California health-care facilities under a measure approved by a key legislative committee on Tuesday.
The bill (AB 3129) would give California’s attorney general the power to block certain deals deemed to have “anticompetitive effects” or significantly affect health-care access in a local community.
The Assembly Judiciary Committee approved the bill Tuesday, ensuring it remains alive ahead of a key Friday legislative deadline. The bill heads next to the Assembly Appropriations Committee.
The measure comes amid mounting scrutiny of private equity’s expansion into health care over the …