Becker's Healthcare April 17, 2024
North Carolina Treasurer Dale Folwell has backed the Federal Trade Commission’s bid to block Novant Health’s proposed acquisition of two hospitals from Franklin, Tenn.-based Community Health Systems.
In an amicus brief filed April 15, Mr. Folwell said that Novant’s $320 million acquisition of Lake Norman Regional Medical Center in Mooresville, N.C., and Davis Regional Medical Center in Statesville, N.C., would eliminate primary competitors and allow the health system to demand more reimbursement from commercial payers.
“When mergers eliminate competitors (like this one), taxpayers and state employees are forced to subsidize the resulting monopolist’s profits,” wrote Mr. Folwell, who, as state treasurer, serves as a fiduciary of the North Carolina State Health Plan for Teachers and State Employees. “Hospital systems...
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