FTC Issues Statement Regarding The Termination Of Novant Health's Acquisition Of Hospitals From Community Health Systems
Portfolio Pulse from Benzinga Newsdesk
The FTC announced the termination of Novant Health's acquisition of two hospitals from Community Health Systems (CYH). The decision follows an injunction by the Fourth Circuit Court of Appeals, which supported the FTC's opposition to the deal. The termination is expected to maintain competition, improving care quality and pricing for patients.
July 01, 2024 | 4:18 pm
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Community Health Systems (CYH) will not proceed with the sale of two hospitals to Novant Health following an FTC-supported injunction. The termination is expected to maintain competition, potentially benefiting CYH by avoiding regulatory hurdles and preserving market share.
The termination of the acquisition deal avoids potential regulatory complications and maintains CYH's market presence, which could be seen positively by investors.
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