A California Democrat who made a name for himself by taking on the health care industry is carrying a bill to regulate private equity stakes in the sector.
A bill moving through the Legislature would regulate private equity investments in California health care facilities, including at dialysis clinics.LAist is facing a budget shortfall, but our mission to provide fact-based journalism is stronger than ever. We cannot do this important work without your member support today. Whether you give for the first time or increase your monthly donation, it all goes a long way in setting us up for a sustainable future.
More amendments are expected as Wood advocates for the bill in the final weeks of the legislative session. Between April and June, a coalition representing hospitals, investors, some dentists and doctors spent $583,000 lobbying against the measure, according to state financial reporting records.
“In the history of the attorney general…80-90% of mergers have been approved,” Van Deynze said. “The goal has been to maintain access to care.” “It is not an emerging issue. It is here and it is creating challenges for the delivery of health care,” Wood said in a recent hearing.from bankruptcy after its for-profit owners sold the hospital’s land to a private equity real estate group, The Wall Street Journal reported. That group, Medical Properties Trust, is also entangled in the, a 30-hospital chain primarily on the East Coast owned by another private equity firm that filed for bankruptcy earlier this year.
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