The Health Care Consolidation and Transparency Act aims to enhance oversight of acquisitions, mergers, and affiliations involving hospitals and health care provider organizations in New Mexico. It establishes a framework requiring parties to submit a notice of proposed transactions at least sixty days before their effective date, with the office of the superintendent of insurance responsible for conducting preliminary and comprehensive reviews. These reviews will assess the potential impact on essential health care services, employment conditions, and the overall health care landscape. The Act introduces key definitions, outlines the applicability of oversight powers, and mandates that parties cover the costs of expert consultations during the review process. It emphasizes transparency and accountability, ensuring that changes in control do not negatively affect health care quality and accessibility.

Additionally, the bill introduces new provisions under the New Mexico Insurance Code, including requirements for health care provider organizations to submit organizational charts and mandates for public transparency regarding proposed transactions. Certain organizations are exempt from reporting if they are controlled by another entity that submits the necessary information. The Act also clarifies that the attorney general's authority to protect consumers remains intact and establishes personal jurisdiction for New Mexico courts over involved parties. It ensures continued oversight of previously approved transactions, requiring reviews for any material changes under the new act. The provisions are set to take effect on July 1, 2025.