Holly Buckley

Yeah, so this is a continuation of something we've talked about a number of other times, and it is this, I'll use the word proliferation again, proliferation of states that are passing healthcare transaction notice laws. And last time we chatted, we talked about California and they had the big veto of the 3129 bill last year. They've come back this year with a couple of different bills.

And we chatted about that in some detail. But in addition, there are a number of other states that have come out with bills as well. So Indiana, which

And we chatted about that in some detail. But in addition, there are a number of other states that have come out with bills as well. So Indiana, which

which already has a bill that requires 90 days advance notice before certain healthcare transactions, has introduced a new bill which would amend the existing bill that would grant the AG approval of the transactions before it was just a notice requirement.

which already has a bill that requires 90 days advance notice before certain healthcare transactions, has introduced a new bill which would amend the existing bill that would grant the AG approval of the transactions before it was just a notice requirement.

And that one is significantly more stringent in that the AG now can actually say no to transactions whereas before they were just kind of gathering information. New York is another one. The New York governor's 2526 budget proposal includes proposed changes that would expand the scope of the state's existing closure of material transactions law.

And that one is significantly more stringent in that the AG now can actually say no to transactions whereas before they were just kind of gathering information. New York is another one. The New York governor's 2526 budget proposal includes proposed changes that would expand the scope of the state's existing closure of material transactions law.

This would extend the pre-closing notice period from 30 to 60 days, require the New York Department of Health to conduct a preliminary review to assess whether a cost market impact review is needed. and could delay closing up to 180 days and require submission of annual reports detailing impact on cost, quality, access, health, equity, and competition.

This would extend the pre-closing notice period from 30 to 60 days, require the New York Department of Health to conduct a preliminary review to assess whether a cost market impact review is needed. and could delay closing up to 180 days and require submission of annual reports detailing impact on cost, quality, access, health, equity, and competition.

So that's obviously a much more burdensome bill. If that is passed, it's expected to be approved by April 1st. And then Washington State also introduced a new bill, which is House Bill 1881, which would expand the scope of the state's existing healthcare material change notice requirements.

So that's obviously a much more burdensome bill. If that is passed, it's expected to be approved by April 1st. And then Washington State also introduced a new bill, which is House Bill 1881, which would expand the scope of the state's existing healthcare material change notice requirements.

It would also extend the period from 60 to 90 days, would give the AG broad discretion over whether a specific transaction qualifies as material and requires submission and review by both the Washington Health Care Authority and Attorney General. So these laws are making deals certainly more difficult and costly. We're still not seeing deals necessarily be halted by these laws.

It would also extend the period from 60 to 90 days, would give the AG broad discretion over whether a specific transaction qualifies as material and requires submission and review by both the Washington Health Care Authority and Attorney General. So these laws are making deals certainly more difficult and costly. We're still not seeing deals necessarily be halted by these laws.

but it's definitely making the landscape more complicated, especially where you have companies transacting who do business in many, many states.

but it's definitely making the landscape more complicated, especially where you have companies transacting who do business in many, many states.

And then my final one, which I'm sure everyone has heard about, but I just think is interesting, is the, it sounds like very close and it may have been announced in the time I've been working this morning, the buyout of Walgreens, the take private, which would likely result in the company being split up into kind of the US retail, the kind of boots retail, which is kind of originated out of the UK, and then some other segments such as Village MD and other lines.

And then my final one, which I'm sure everyone has heard about, but I just think is interesting, is the, it sounds like very close and it may have been announced in the time I've been working this morning, the buyout of Walgreens, the take private, which would likely result in the company being split up into kind of the US retail, the kind of boots retail, which is kind of originated out of the UK, and then some other segments such as Village MD and other lines.

And so that's rumored to be a $10 billion transaction. I had read that I think, and I may get this slightly wrong, but in 2014, the company was maybe valued at $100 billion and has just lost an immense amount of that value over the past 11 years. But I think it's super interesting that Walgreens, which is such a household name, is likely to go private in the coming years.

And so that's rumored to be a $10 billion transaction. I had read that I think, and I may get this slightly wrong, but in 2014, the company was maybe valued at $100 billion and has just lost an immense amount of that value over the past 11 years. But I think it's super interesting that Walgreens, which is such a household name, is likely to go private in the coming years.

Thank you.