Fierce Healthcare April 17, 2024
The Federal Trade Commission’s push to nix Novant Health’s $320 purchase of two Community Health Systems hospitals has the official backing of North Carolina Treasurer Dale Folwell.
In an amicus brief filed Monday, Folwell outlined his role as a fiduciary of the North Carolina State Health Plan for Teachers and State Employees, and therefore one of the state’s largest healthcare purchasers.
The Republican noted that the deal would eliminate a primary competitor and allow Novant to demand higher reimbursement from payers. In this case, this would force taxpayers and state employees “to subsidize the resulting monopolist’s profits,” he wrote.
Novant’s nonprofit status is no shield from the proposed acquisition’s market effects, he continued, as the state’s nonprofits have posted...
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