Private equity’s role in US healthcare remains unchecked after California veto

Bill rejected by Newsom would have let attorney general deny mergers after recent scandal involving Stewart Health

Hopes to rein in private equity investment in healthcare died in California last weekend, as a nationally watched bill was vetoed by the Democratic governor, Gavin Newsom.

The bill was the nation's most high-profile legislative effort to regulate such investments in healthcare, and would have given the state attorney general discretion to deny mergers.