FTC-PR-240125-2
Date Released: 
January 25, 2024
Headline:
FTC-PR-240125-2 – FTC Sues to Block Novant Health’s Acquisition of Two Hospitals from Community Health Systems – Proposed acquisition would eliminate competition, increase healthcare costs in North Carolina’s Eastern Lake Norman Area
Excerpt:
The Federal Trade Commission today sued to block Novant Health, Inc.’s $320 million acquisition of two North Carolina hospitals from Community Health Systems, Inc. (“CHS”).
The Commission issued an administrative complaint and authorized a lawsuit in federal court to block the proposed acquisition, alleging that Novant Health’s proposed deal to acquire Lake Norman Regional Medical Center and Davis Regional Medical Center from CHS threatens to raise prices and reduce incentives to invest in quality and innovative care that would benefit patients.
“Hospital consolidations often lead to worse outcomes for nurses and doctors, result in higher prices, and can have life and death consequences for patients,” said Henry Liu, Director of the FTC’s Bureau of Competition. “There is overwhelming evidence that Novant’s deal with Community Health Systems will be detrimental to patients in the Eastern Lake Norman Area, including leading to higher out-of-pocket costs for critical health care services.”
Currently, Novant operates Huntersville Medical Center and serves more patients than any other hospital in the Eastern Lake Norman Area. Novant is one of the largest hospital systems in the southeastern United States including in North Carolina. It is also one of the most expensive hospital systems in North Carolina, according to the FTC’s administrative complaint.
https://www.ftc.gov/news-events/news/press-releases/2024/01/ftc-sues-block-novant-healths-acquisition-two-hospitals-community-health-systems
[Date Accessed: 3/4/2024]
Please Contact ⊗ the administrator if you find any non-working links on this page.