Chief Healthcare Executive June 19, 2024
Novant Health has abandoned its planned purchase of two facilities after the Federal Trade Commission secured an injunction delaying the deal.
Just two weeks after Novant Health secured a legal victory in its bid to buy two North Carolina hospitals, another court ruling has spurred the health system to abandon its plans.
Novant had planned to buy two facilities from Community Health Systems in a $320 million deal, but the Federal Trade Commission has been working to block the acquisition. On Tuesday, the U.S. Court of Appeals for the Fourth District narrowly granted the FTC’s petition for an injunction, delaying the deal.
With the deal being stalled, Novant Health announced Tuesday that it was abandoning its plans to buy Lake...
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