The General Assembly Raised Bill No. 5398 aims to enhance the regulatory framework surrounding health care entity transactions in Connecticut by introducing new definitions and clarifications, such as "advanced practice registered nurse," "group practice," and "private equity entity." The bill repeals and replaces Section 19a-486i of the general statutes, effective October 1, 2026, to modernize the legal language and improve oversight. Key deletions from current law include outdated definitions, particularly the redefinition of "health care provider" and the restructuring of "group practice" to better reflect contemporary practices.

Additionally, the bill imposes new requirements for health care facilities regarding affiliations and material change transactions, mandating that parties provide written notice to the Attorney General with detailed information about the transaction at least sixty days prior. It expands the definition of "material change transaction" to encompass various corporate mergers and acquisitions that significantly impact health care entities. Hospitals and hospital systems are required to submit annual reports detailing their affiliations, and penalties for non-compliance include fines of up to one thousand dollars per day. The bill also reinforces the authority of state agencies to review transactions for antitrust compliance and introduces equitable relief measures for violations of the Connecticut Antitrust Act.

Statutes affected:
Raised Bill: 35-29, 35-34