California Legislators Pass AB 3129 to Require Notice and Consent for Private Equity and Hedge Fund Investments in Health Care (JDSupra)

California’s legislature passed AB 3129, which, if signed by Governor Newsom, will require private equity groups and hedge funds to notify and, in some cases, obtain consent from the California Attorney General (AG) for investments in certain healthcare practices and facilities starting January 1, 2025. The bill applies to specific healthcare transactions, but amendments exempt certain entities, such as hospitals, dermatology practices, and county acquisitions, from these requirements.