TX SB1595

Requires health care entities with at least $10 million in combined assets and annual revenue to report ownership and control information annually to the Secretary of State, including legal names, addresses, business identification numbers, organizational charts, and comprehensive financial reports

Applies to material change transactions such as mergers, acquisitions, changes of control, formation of joint ventures or management services organizations, sales or transfers of board control, and significant real estate transactions involving health care entities

Exempts independent provider organizations with three or fewer physicians that are not under outside ownership or control, as well as clinical trial collaborations, graduate medical education programs, and hiring of individual physicians

Establishes civil penalties of up to $50,000 per violation for small independent practices (10 or fewer physicians, under $10 million revenue) and up to $500,000 per violation for larger health care entities that fail to report or submit false information

Mandates the Secretary of State publish an annual public report by July 1 each year analyzing ownership trends and consolidation in the health care market, with reported information subject to public disclosure under open records laws