hotspot
A federal judge ordered Wednesday that Novant Health can move forward with its plan to buy two North Carolina hospitals, denying the Federal Trade Commission’s request for an injunction.
The FTC sued to block the deal in January, arguing that it would give Novant control of more than 65% of the region’s inpatient market. The case, one seeking to block nearby hospitals from merging and creating an even more powerful dominant player, is the FTC’s bread and butter. The agency has shied away from challenging cross-market and vertical mergers, but this one is right in its wheelhouse, which makes the setback surprising.
advertisement
Under the deal, announced early last year, Novant would buy two hospitals in the same county from for-profit Community Health Systems for $320 million. The hospitals, Lake Norman Regional Medical Center and Davis Regional Medical Center, are only a 25-minute drive from one another. Davis Regional used to be a full-service hospital, but is now a psychiatric hospital. The deal also includes a group of 24 doctors, a majority interest in an endoscopy center, and a holding in a planned surgery center.
STAT+ Exclusive Story
Already have an account? Log in
This article is exclusive to STAT+ subscribers
Unlock this article — plus in-depth analysis, newsletters, premium events, and networking platform access.
Already have an account? Log in
Already have an account? Log in
Monthly
$39
Totals $468 per year
$39/month Get StartedTotals $468 per year
Starter
$30
for 3 months, then $39/month
$30 for 3 months Get StartedThen $39/month
Annual
$399
Save 15%
$399/year Get StartedSave 15%
11+ Users
Custom
Savings start at 25%!
Request A Quote Request A QuoteSavings start at 25%!
2-10 Users
$300
Annually per user
$300/year Get Started$300 Annually per user
View All Plans
Get unlimited access to award-winning journalism and exclusive events.
Subscribe Log InNext article： Medical records are filled with copy
