HB 5319, An Act Requiring A Plan Concerning Private Equity Firms Acquiring Or Holding An Ownership Interest In Health Care Facilities

TESTIMONY OF CONNECTICUT HOSPITAL ASSOCIATION SUBMITTED TO THE PUBLIC HEALTH COMMITTEE
Wednesday, March 6, 2024

HB 5319, An Act Requiring A Plan Concerning Private Equity Firms Acquiring Or Holding An Ownership Interest In Health Care Facilities

The Connecticut Hospital Association (CHA) appreciates this opportunity to submit testimony
concerning HB 5319, An Act Requiring A Plan Concerning Private Equity Firms Acquiring
Or Holding An Ownership Interest In Health Care Facilities. CHA supports the bill.

Connecticut hospitals are critical to their communities. They are confronting the challenges
posed by a post-pandemic healthcare system with an exemplary healthcare workforce that
continues to provide outstanding care. But challenges remain. Hospitals are treating sicker
patients, it continues to be challenging to hire and retain staff, and the financial headwinds are
grave. Through it all, hospitals are steadfast, providing high-quality 24-hour care for everyone
who walks through their doors, focusing on making Connecticut’s healthcare system more
equitable, and driving world-class innovation right here in Connecticut.

HB 5319 requires the Office of Health Strategy (OHS) to study and make recommendations to
the Public Health Committee with respect to private equity firms acquiring or holding an
ownership interest in healthcare facilities. CHA supports the bill but urges the Committee to
amend the bill to require public and stakeholder participation and the opportunity to provide
comment throughout the process.

Thank you for your consideration of our position. For additional information, contact CHA
Government Relations at (203) 294-7310.