The Illinois House of Representatives passed legislation that, if approved by the state senate and signed by Governor J.B. Pritzker, would increase oversight of certain “covered transactions” for healthcare facilities and provider organizations, effective Jan. 1, 2024, according to McDermott, Will & Emery.
Unlike the federal Hart-Scott-Rodino (HSR) Act, which requires notice to the federal antitrust agencies for transactions valued over a certain dollar amount threshold, HB 2222 has no minimum transaction value threshold for intrastate covered transactions and would require reporting even for small transactions that are unlikely to raise antitrust concerns. The Illinois Attorney General’s Office (IL AG) asserts that the legislative intent is to establish a review process to assess a transaction’s impact on cost, quality and access to care. Read more.
