Lexology June 7, 2024
On June 5, 2024, the US District Court for the Western District of North Carolina denied the Federal Trade Commission’s (FTC) petition to enjoin Novant Health Inc.’s (Novant) acquisition of Community Health Systems Inc.’s (CHS) Lake Norman Regional Medical Center (LNR) and Davis Regional Psychiatric Hospital (Davis), thereby allowing the acquisition to proceed while the FTC conducts its administrative process to consider the lawfulness of the transaction.
In Depth
WHAT HAPPENED
- In February 2023, Novant and CHS entered into an asset purchase agreement whereby Novant would acquire LNR, Davis and related assets from CHS.
- Following an extended investigation, in January 2024, the FTC filed an administrative complaint against the proposed transaction, alleging it would significantly increase concentration in the...
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