The U.S. Federal Commerce Fee mentioned on Thursday that it could file a lawsuit aimed toward stopping the merger of Rhode Island’s two largest well being care suppliers, Lifespan Corp. and Care New England Well being System.
The company, which voted unanimously to oppose the deal, mentioned it and the Rhode Island legal professional common’s workplace have been involved the merger would create a “healthcare conglomerate with outsized energy.”
“This proposed merger is a nasty deal for sufferers who’re prone to see increased hospital payments, decrease high quality of care, and fewer cutting-edge medical providers,” mentioned FTC Bureau of Competitors Director Holly Vedova in a press release.
The FTC mentioned its criticism would allege that the deal would give the mixed firm no less than 70 % of the Rhode Island marketplace for therapies that require a hospital keep and an equally excessive share of the marketplace for in-patient behavioral well being providers.
Care New England President James Fanale mentioned in a press release that the businesses have been disenchanted. “I’ll say that we are able to actually know that we did every thing we might over the previous few years of laborious work to get this executed. We thought it was the appropriate factor to do, however now we might want to transfer on to a brand new path ahead,” he mentioned.
A spokeswoman for the corporate declined to say if a choice had been made to terminate the transaction.
(Reporting by Diane Bartz; Modifying by David Gregorio)
Was this text precious?
Listed here are extra articles it’s possible you’ll take pleasure in.
Serious about Lawsuits?
Get automated alerts for this subject.
