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CalPERS supports California bill requiring state approval for healthcare acquisitions

The California Public Employees’ Retirement System has voted to support the California bill that requires private equity and hedge fund firms to obtain consent from the state attorney general for acquisitions or changes in control of healthcare facilities or provider groups. 

The board of the $499.7bn pension fund also put forward an amendment to extend its application to all healthcare facility or provider group mergers or acquisitions, beyond just those involving private equity or hedge fund firms. 

At the meeting on 12 June, David Miller, board vice president of CalPERS, said: “This bill, in a perfect world, it would not be limited as much as it is, but to me, it is a step in the right direction.” 

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