Bill requiring AG approval for private equity health care acquisitions awaits Newsom’s signature

Private equity groups would need the California attorney general’s approval before acquiring health care practices in the state under legislation awaiting Gov. Gavin Newsom’s (D) signature.

The bill, sponsored by Attorney General Rob Bonta (D) and passed on the legislature’s last day in session, is one of several introduced across the country this year that aimed to increase state oversight of health care transactions, as regulators raise alarms over corporate consolidation of the medical industry.