January 12, 2017 at 2:17 pm ET
Trump’s HHS Pick Details Plan to Divest from Companies
President-elect Donald Trump’s pick to lead the Department of Health and Human Services says he will divest from his interests in more than three dozen companies.
“I will not participate personally and substantially in any particular matter in which I know that I have a financial interest directly and predictably affected by the matter, or in which I know that a person whose interests are imputed to me has a financial interest directly and predictably affected by the matter, unless I first obtain a written waiver,” Rep. Tom Price (R-Ga.) detailed in a letter dated Jan. 11 to an HHS ethics official.
Price listed 43 companies he would divest from within 90 days of his confirmation, adding that he would not “participate personally and substantially” in any matter involving any of the companies until he has divested from unless he first obtains a written waiver.
Price pledged to resign as managing partner of Chattahoochee Associates LP, a Georgia-based surgical group, but he said he would “receive only passive investment income from it.” He plans to retain limited partnership interests in Diagnostic Ventures of Roswell LLC, a Georgia health care real estate company, and RMC3 LLC.
He also promised to resign as a delegate of the American Medical Association and not participate in any matters of which he knows the AMA is a party or represents a party for up to one year. Since his wife is a member of the Georgia state legislature, Price said he wouldn’t participate in matters connected to the state without gaining prior authorization on a case-by-case basis.
Price’s letter comes ahead of a Health, Education, Labor and Pensions Committee courtesy hearing on his nomination set for Wednesday. The Senate Finance Committee will also hold a hearing on his nomination and vote on it, though the committee has not yet set a date for a hearing.
Senate Democrats have called for the Office of Congressional Ethics to investigate Price for possibly violating insider trading laws, saying no hearings should occur prior to such an investigation concluding.
Phil Blando, a spokesman for the Trump transition team, called on the Senate to “move expeditiously” to consider Price in an email statement after Price’s letter was released.