Business

Asm. Mia Bonta’s Bill Cracking Down on Private Equity Healthcare Deals Heads to Gov’s Desk

“AB 1415 ensures that Californians have a watchdog when it comes to the billions of dollars of private equity transactions in California’s healthcare system,” said Bonta, who chairs the Assembly Health Committee. “This bill is a crucial step to close the gaps in the Office of Health Care Affordability’s oversight abilities at a time when our constituents are demanding that we take action to protect access to affordable and high-quality care.”

Published

6 months ago

September 14, 2025

Oakland Post

Assemblymember Mia Bonta represents California’s 18th Assembly District, which covers Oakland, Alameda, and Emeryville.

By Oakland Post Staff

California is one step closer to tightening oversight of private equity and hedge fund spending in the healthcare sector as lawmakers sent Assembly Bill (AB)1415, authored by Assemblymember Mia Bonta (D-Oakland), to Gov, Gavin Newsom’s desk this week.

The measure, if signed into law, would expand the authority of the state’s Office of Health Care Affordability (OHCA), requiring private equity groups, hedge funds, and Management Services Organizations (MSOs) to notify the office of major transactions, including mergers or acquisitions involving hospitals, physician organizations, skilled nursing facilities, or other MSOs.

Created in 2022, OHCA was tasked with tackling rising health costs that continue to outpace inflation and strain working families. The office monitors healthcare spending enforces statewide cost-growth benchmarks, reviews transactions for their effect on access and equity, and promotes strategies to improve affordability and quality.

Bonta’s bill follows last year’s veto of AB 3129, a similar measure blocked by Gov. Newsom. In that veto, Newsom directed that OHCA — not other agencies –should be the lead state entity reviewing healthcare mergers and acquisitions, a role AB 1415 would now cement.

Supporters say the legislation is urgently needed as California faces rapid healthcare consolidation. Between 2019 and 2023, private equity acquisitions of healthcare providers in the state totaled $4.31 billion, representing nearly one-third of all healthcare deals. The share of community hospitals owned by larger health entities climbed from 53% in 2004 to 68% in 2022. And the percentage of physicians working in hospitals or practices owned by bigger systems grew from 29% in 2012 to 41% in 2022.

Research shows that when consolidation increases, so do prices. Critics of unchecked mergers warn that corporate takeovers often lead to service reductions, closures, and diminished community access to care.

“We all are feeling the rise in our health care prices, and one big reason is that powerful investment and private equity firms are quietly buying up hospitals, clinics, and doctors’ offices, often cutting corners to boost profits. Yet the state doesn’t have all the information needed to determine the impact of these mergers for California health care consumers,” said Katie Van Deynze, Senior Policy Advocate with Health Access California, a statewide healthcare consumer coalition.

Deynze continued, “We hope Governor Newsom signs this bill so we can have the full picture when health care mergers have the potential to harm patients or workers and drive up costs.”

If signed, AB 1415 would mark a first-of-its-kind law in California and could set a precedent nationally. Other states, including Illinois and Texas, along with Congress, are exploring similar efforts to scrutinize private equity’s growing footprint in the healthcare industry.

Bonta represents California’s 18th Assembly District, which covers Oakland, Alameda, and Emeryville. She is also the first woman of color to chair the Assembly Health Committee.

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Oakland Post: Week of February 25 – March 3, 2026

The printed Weekly Edition of the Oakland Post: Week of – February 25 – March 3, 2026

Published

1 week ago

March 1, 2026

Oakland Post

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Chase Oakland Community Center Hosts Alley-Oop Accelerator Building Community and Opportunity for Bay Area Entrepreneurs

Over the past three years, the Alley-Oop Accelerator has helped more than 20 Bay Area businesses grow, connect, and gain meaningful exposure. The program combines hands-on training, mentorship, and community-building to help participants navigate the legal, financial, and marketing challenges of small business ownership.

Published

2 weeks ago

February 21, 2026

Oakland Post

Bay Area entrepreneurs attend the Alley-Oop Accelerator, a small business incubation program at Chase Oakland Community Center. Photo by Carla Thomas.

By Carla Thomas

The Golden State Warriors and Chase bank hosted the third annual Alley-Oop Accelerator this month, an empowering eight-week program designed to help Bay Area entrepreneurs bring their visions for business to life.

The initiative kicked off on Feb. 12 at Chase’s Oakland Community Center on Broadway Street, welcoming 15 small business owners who joined a growing network of local innovators working to strengthen the region’s entrepreneurial ecosystem.

At its core, the accelerator is designed to create an ecosystem of collaboration, where local entrepreneurs can learn from one another while accessing the resources of a global financial institution.

“This is our third year in a row working with the Golden State Warriors on the Alley-Oop Accelerator,” said Jaime Garcia, executive director of Chase’s Coaching for Impact team for the West Division. “We’ve already had 20-plus businesses graduate from the program, and we have 15 enrolled this year. The biggest thing about the program is really the community that’s built amongst the business owners — plus the exposure they’re able to get through Chase and the Golden State Warriors.”

According to Garcia, several graduates have gone on to receive vendor contracts with the Warriors and have gained broader recognition through collaborations with JPMorgan Chase.

“A lot of what Chase is trying to do,” Garcia added, “is bring businesses together because what they’ve asked for is an ecosystem, a network where they can connect, grow, and thrive organically.”

This year’s Alley-Oop Accelerator reflects that vision through its comprehensive curriculum and emphasis on practical learning. Participants explore the full spectrum of business essentials including financial management, marketing strategy, and legal compliance, while also preparing for real-world experiences such as pop-up market events.

Each entrepreneur benefits from one-on-one mentoring sessions through Chase’s Coaching for Impact program, which provides complimentary, personalized business consulting.

Garcia described the impact this hands-on approach has had on local small business owners. He recalled one candlemaker, who, after participating in the program, was invited to provide candles as gifts at Chase events.

“We were able to help give that business exposure,” he explained. “But then our team also worked with them on how to access capital to buy inventory and manage operations once those orders started coming in. It’s about preparation. When a hiccup happens, are you ready to handle it?”

The Coaching for Impact initiative, which launched in 2020 in just four cities, has since expanded to 46 nationwide.

“Every business is different,” Garcia said. “That’s why personal coaching matters so much. It’s life-changing.”

Participants in the 2026 program will each receive a $2,500 stipend, funding that Garcia said can make an outsized difference. “It’s amazing what some people can do with just $2,500,” he noted. “It sounds small, but it goes a long way when you have a plan for how to use it.”

For Chase and the Warriors, the Alley-Oop Accelerator represents more than an educational initiative, it’s a pathway to empowerment and economic inclusion. The program continues to foster lasting relationships among the entrepreneurs who, as Garcia put it, “build each other up” through shared growth and opportunity.

“Starting a business is never easy, but with the right support, it becomes possible, and even exhilarating,” said Oscar Lopez, the senior business consultant for Chase in Oakland.