Novant Health ends pursuit of hospital merger
Appeals court ruling backs Federal Trade Commission's challenge
The following article appeared in the June 19, 2024, edition of The Charlotte Ledger, an e-newsletter with smart and original local news for Charlotte. We offer free and paid subscription plans. More info here.
Novant Health ends its effort to buy Iredell hospitals after legal setback; An advantage for Atrium?
Novant Health said Tuesday that it is abandoning its effort to buy two Iredell County hospitals, after a federal appeals court sided with the Federal Trade Commission’s effort to block the $320M deal.
The agreement for Novant to buy Lake Norman Regional Medical Center in Mooresville and Davis Regional Medical Center in Statesville set off a debate between the hospitals and the FTC: Would the consolidation harm consumers by consolidating ownership and reducing competition, as the FTC alleged? Or would it benefit consumers by allowing a stronger Novant to compete against giant Atrium Health, as the hospitals claimed?
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