The Health Care Consolidation and Transparency Act aims to enhance oversight of transactions 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, along with a preliminary review to assess the need for a comprehensive review based on factors like patient care and employment conditions. Key provisions include definitions of relevant terms, the process for submitting notices, and the criteria for determining control in transactions. The Act also allows for emergency exemptions and includes protections for whistleblowers, penalties for non-compliance, and mandates annual notices of ownership.

Additionally, the bill introduces new sections to the New Mexico Insurance Code, detailing the comprehensive review process and ensuring public transparency. It requires health care provider organizations to submit an organizational chart and exempts certain entities from this requirement. The attorney general's authority to protect consumers remains unaffected, and New Mexico courts will have jurisdiction over relevant transactions. The Act also stipulates that any material changes to previously approved transactions will be subject to review under the new framework. The provisions are set to take effect on July 1, 2025.