Governor Newsom Vetoes CA AB 3129 (Wood), Thwarting Years-long Effort to Protect Healthcare From Private Equity
October 2, 2024 — Following news that California Governor Gavin Newsom has vetoed AB 3129, a bill that would have given the California Attorney General’s Office greater ability to review and block private equity firms or hedge funds from purchasing healthcare facilities (so-called “roll-up”), and to prohibit private equity or hedge funds from interfering in the practice of medicine by medical professionals (“private equity practice of medicine”), the American Economic Liberties Project released the following statement.
DOJ Backs Healthcare Workers in Class-Action Lawsuit Against UPMC’s Abuses
October 1, 2024 — In response to news that the Department of Justice Antitrust Division has filed a statement of interest supporting healthcare workers in a class-action antitrust lawsuit against the University of Pittsburgh Medical Center (UPMC) — which alleges that UPMC weaponizes its monopsony power to suppress wages, illegally fight unionization, and trap employees with “do not hire” blacklists — the American Economic Liberties Project released the following statement.
Economic Liberties Applauds Proposed Philadelphia Law to Ban Algorithmic Rent-Fixing
September 27, 2024—In response to news that Philadelphia Councilmember Nicolas O’Rourke has introduced a bill to ban algorithmic price setting in the rental housing market, the American Economic Liberties Project released the following statement.
Economic Liberties and Partners Call on FTC to Block McKesson and Cardinal Health Acquisitions
September 26, 2024 — The American Economic Liberties Project, along with five other advocacy organizations, sent a letter to the Federal Trade Commission (FTC) today urging the agency to block two major acquisitions proposed by McKesson Corporation and Cardinal Health, which are both seeking to acquire management service organizations (MSOs) that oversee oncology practice networks. As Americans continue to struggle with high drug prices, the letter argues these deals would further entrench the dominance of these pharmaceutical distribution giants, exacerbate drug shortages, and raise costs for cancer patients.
Private Equity’s Stealthy Vet Takeover Leaves Pet Owners Paying the Price
September 24, 2024 — In response to a joint Federal Trade Commission and Department of Justice Request for Information (RFI) on serial acquisitions and roll-up strategies across the economy, the American Economic Liberties Project submitted a comment last week detailing harmful corporate and private equity roll-ups in the veterinary industry and recommending robust enforcement.