RI S2950

Private equity companies and REITs acquiring ownership or control of healthcare providers must submit a notice of material change to the Attorney General and deposit a bond with the Department of Health

Bond amount equals one year of the provider's average operating expenses plus costs for an independent supervisor; must be maintained during ownership and for 7 years after

The bond cannot be secured by the healthcare provider's assets, paid through debt placed on the provider, or otherwise funded by the acquired entity

Department of Health may collect the bond if the provider declares bankruptcy, faces imminent closure risk, or closes a majority of essential services; proceeds must support continued patient care

Private equity companies and REITs are prohibited from interfering with or controlling clinical decisions of healthcare practitioners