CA SB977

Requires health care systems, private equity groups, and hedge funds to obtain written Attorney General consent before acquiring health care facilities or providers, with exceptions for rural areas and transactions under $1 million.

Attorney General may deny consent unless the transaction demonstrates substantial likelihood of clinical integration, increased access to underserved populations, or both; anticompetitive effects that outweigh benefits can also trigger denial.

Establishes the Health Policy Advisory Board (July 1, 2021 to January 1, 2027) to evaluate health care markets and recommend approvals to the Attorney General, with members appointed by the Governor, Legislature, and Attorney General.

Makes it unlawful for health care systems with substantial market power to engage in anticompetitive conduct, including tying and exclusive dealing arrangements, with civil penalties of $1,000,000 or twice the gross gain/loss to parties (whichever is greater).

Provides Attorney General authority to seek treble damages (3x actual damages) plus attorney fees and costs; all provisions apply only to transactions initiated, completed, or pending by December 31, 2025.