Becker's Healthcare June 18, 2024
Winston-Salem, N.C.-based Novant Health has called off its planned $320 million acquisition of two North Carolina hospitals from Community Health Systems after an appellate court granted the Federal Trade Commission an emergency injunction blocking the deal.
In a 2-1 decision, the 4th U.S. Circuit Court of Appeals said it would allow the FTC to prevent the two-hospital acquisition from proceeding until its appeal is resolved.
For more than a year, the FTC has been fighting to block Novant’s acquisition of Lake Norman Regional Medical Center and Statesville, N.C.-based Davis Regional Medical Center from Franklin, Tenn.-based CHS, a for-profit health system.
The FTC argues that the transaction would “irreversibly consolidate the market for hospital services in the Eastern Lake Norman...
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