Delaware SB313 imposes a moratorium on transactions involving nonprofit acute care hospitals to prevent private equity firms from gaining control.

Delaware SB313 amends Titles 16 and 29 of the Delaware Code to impose a moratorium on transactions involving nonprofit acute care hospitals. The bill prohibits individuals and entities, excluding charities and not-for-profit organizations, from entering into change of control or not-for-profit healthcare conversion transactions with these hospitals. Such transactions are void and of no legal effect. The Attorney General can seek injunctive relief and other remedies to enforce this prohibition.

Delaware SB313 imposes a moratorium on transactions involving nonprofit acute care hospitals to prevent private equity firms from gaining control.

Delaware SB313 amends Titles 16 and 29 of the Delaware Code to impose a moratorium on transactions involving nonprofit acute care hospitals. The bill prohibits individuals and entities, excluding charities and not-for-profit organizations, from entering into change of control or not-for-profit healthcare conversion transactions with these hospitals. Such transactions are void and of no legal effect. The Attorney General can seek injunctive relief and other remedies to enforce this prohibition.