Concerning material changes to the operations and governance structure of participants in the health care marketplace.

SB 5704 requires health care entities in Washington to notify the attorney general and health care authority about major mergers, acquisitions, or contracting arrangements. This aims to prevent anticompetitive outcomes that could reduce access to affordable, quality care - particularly for reproductive, end-of-life, gender-affirming, and rural health services. The law mandates review of these transactions to ensure communities maintain or improve access to essential services, with specific protections for marginalized groups affected by past consolidation. It supplements federal antitrust rules by expanding reporting requirements for transactions below federal thresholds.