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Brett Friedman Discusses New York’s New Health Care Material Transactions Law in Crain’s NY

Practices: Health Care, Health Care Transactions, Mergers & Acquisitions Industries: Healthcare & Life Sciences

A new material transactions law went into effect in New York on August 1, requiring increased reporting around sales, mergers and acquisitions by businesses like physician practices and management services groups.

Health care partner Brett Friedman told Crain’s NY that, “because physician practices and management services organizations are not subject to the same state transaction approvals as hospitals and other health care providers, New York state lacks data to understand the nature of these transactions—and the ability to determine whether they are good or bad for patients.”

Given the size of the health care industry in the state, “New York feels like they have to do something,” Brett said. “This law should be viewed as a first step, not as the final disposition on where they're going to end up on this issue.”

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