Note of Acquisition: 18 V.S.A. § 9405[1]
Current Status: Effective since 2015.
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Key Takeaways
- Requires parties to provide notice to the Vermont Attorney General (“VT AG”) for transactions involving Vermont hospitals that are acquiring medical practices.
- The parties must provide 90 days notice before closing to the VT AG.
- The statute provides time for the VT AG to review transactions, but does not grant any additional powers to block or modify transactions beyond existing Vermont antitrust laws.
Applies to Vermont-licensed hospitals and medical practices with one or more physicians.
Parties must provide notice of any purchase or transfer through which a hospital will own or control the business of a medical practice
There are no specific revenue thresholds required under the statute.
Hospitals must provide notice at least 90 days before closing.
Notifications include limited information on the relevant hospital and medical practice, including:
- The name and address of the hospital acquiring the medical practice and contact information for a representative of the hospital; and
- The name and address of the medical practice being acquired and contact information for a representative of the medical practice.
All information provided to the VT AG in the notice is exempt from public inspection and will be kept confidential, except as necessary for the VT AG to perform an inquiry into potentially anticompetitive practices.
There are no enumerated penalties included in the statute.
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