§323D-72 - Acquisition of hospital. - Hawaii Statutes

     §323D-72  Acquisition of hospital.  (a)  No person shall engage in the acquisition of a hospital without first:

     (1)  Applying for and receiving the approval of the agency; and

     (2)  Notifying the attorney general and, if applicable, receiving approval from the attorney general pursuant to this part.

     (b)  Any person not required to obtain the approval of the agency under this part shall give the attorney general at least ninety days prior notice of an impending acquisition, during which time the attorney general may take any necessary and appropriate action consistent with general duties of oversight with regard to the conduct of charities, if applicable.  The notice shall briefly describe the impending acquisition, including any change in ownership of tangible or intangible assets.

     (c)  The application shall be submitted to the agency and the attorney general on forms provided by the agency and shall include:

     (1)  The name of the seller, the name of the purchaser, and the names of other parties to an acquisition;

     (2)  The terms of the proposed agreement;

     (3)  The sale price;

     (4)  A copy of the acquisition agreement;

     (5)  A financial and economic analysis and report from an independent expert or consultant of the effect of the acquisition under the criteria set forth in section 323D-76; and

     (6)  All other related documents.

A copy of the application and copies of all additional related materials shall be submitted to the agency and to the attorney general at the same time.  The applications and all related documents shall be considered government records. [L 1998, c 257, pt of §1; am L 2001, c 69, §2]