AG won't challenge Phoebe ruling; FTC will - WALB.com, Albany News, Weather, Sports

AG won't challenge Phoebe ruling; FTC will

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from the office of the Georgia Attorney General:

Attorney General Sam Olens released the following statement regarding yesterday's order by Judge Sands:

"We respect the ruling of the district court, and do not intend to appeal.

My office filed a joint complaint with the Federal Trade Administration (FTC) after the FTC voted 5-0 to seek an injunction and provided my office with robust evidence that the merger will reduce competition and raise healthcare prices in Dougherty County.

Through the district court litigation, we were able to highlight our concerns with the acquisition process."

But the Federal Trade Commission sees it differently. The agency released this statement Tuesday-

Statement by FTC Bureau of Competition Director Richard Feinstein on the Phoebe Putney Health System Ruling

 Federal Trade Commission Bureau of Competition Director Richard Feinstein issued the following statement regarding a U.S. District Court decision yesterday that denied the agency's request for a preliminary injunction barring Phoebe Putney Health System, Inc.'s proposed acquisition of competitor Palmyra Park Hospital, Inc.:

 "There is abundant evidence – and the defendants do not dispute – that Phoebe Putney's acquisition of Palmyra, its only rival hospital in the Albany, Georgia area, will create a monopoly.  This will result in dramatically higher health care costs for citizens of that community.  The deal was specifically structured to avoid antitrust enforcement.  We will immediately appeal the court's decision that the acquisition is immune from antitrust scrutiny."

 

 

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