FTC to Appeal Phoebe / Palmyra Decision
John Commins, for HealthLeaders Media, June 29, 2011
The FTC contends this structure was arranged by Phoebe to avoid federal antitrust scrutiny. On Nov. 16, Phoebe made a formal offer to HCA for Palmyra, an offer that was not reviewed by the Authority. On Dec. 2, 2010, Phoebe's board approved the final terms of the deal, but the transaction still had not been presented to the Authority. The deal was presented to the Authority for the first time at a special meeting held on Dec. 21, 2010. At that meeting, the Authority approved the deal that would give Phoebe control over Palmyra immediately after the deal was closed, the complaint said.
The FTC voted 5-0 to issue the administrative complaint and authorize staff to file a complaint for preliminary injunction in federal district court. The evidentiary hearing is scheduled before an administrative law judge at the FTC on Sept. 19.
FTC, GA Challenge 'Anticompetitive' Phoebe/Palmyra Acquisition
John Commins is a senior editor with HealthLeaders Media.
- Drug Pricing 'Tantamount to Greed,' Lawmaker Says
- Surgical Checklists Unused in 10% of Hospitals, CMS Data Shows
- The Infection-Busting Treatment Payers Don’t Want to Talk About
- CVS Ramps Up Retail Clinics with Provider Affiliations
- Wanted: Nurse PhDs
- Study Puts Spotlight on Preventing Fall-Related Injuries
- 4 Tectonic Shifts Shaking Up Healthcare
- Doctors Feel Pressure to Accept Risk-based Reimbursement
- Ascension, Carondelet to Partner with Tenet, Dignity Health
- Rural Means Older and Sicker, Data Confirms