Novant Health has abandoned its $320 million deal to acquire two North Carolina hospitals from Community Health Systems after a U.S. appeals court temporarily blocked the transaction on June 18. The Federal Trade Commission (FTC) had initially failed to secure an injunction to halt the merger, but a split Fourth Circuit panel later granted the FTC's bid for an emergency injunction. The deal, which was intended to expand Novant's presence near Charlotte, faced opposition from federal regulators who argued it would have given Novant near-monopoly power in the region. This decision marks a significant win for the FTC, which has maintained a strong record in challenging hospital mergers.
FTC maintains strong hospital merger record after Novant/CHS case https://t.co/3Ls1b8rrCS
Novant scraps $320M hospital deal with CHS https://t.co/IMERHxw4i6
Novant Health ended its plan to acquire two hospitals near Charlotte after federal regulators and others said it would have given Novant near-monopoly power in the region. https://t.co/ZaXvhTcFM7
Novant Health calls off North Carolina hospital deal, giving a win to the FTC https://t.co/dLI9fT8WXx via @statnews
Healthcare company Novant Health said that it is abandoning a $320 million deal to acquire two North Carolina hospitals from Community Health Systems after a U.S. appeals court temporarily blocked the transaction @MikeScarcella https://t.co/4SQ4UPLgav https://t.co/kWB2d57nk5
.@NovantHealth gives up $320M hospital deal after FTC secures appeals court injunction https://t.co/Kuf4nKgQHK
Healthcare company Novant Health said that it is abandoning a $320 million deal to acquire two North Carolina hospitals from Community Health Systems, after a US appeals court temporarily blocked the transaction https://t.co/4SQ4UPLO03 @MikeScarcella https://t.co/e9rQNU7ugJ
BREAKING: A split Fourth Circuit panel on Tuesday granted the Federal Trade Commission's bid for an emergency injunction blocking Novant Health's proposed buyout of a North Carolina hospital while the agency pursues an appeal. https://t.co/ixOPng80fq https://t.co/5phjdxxLzY
Court Denies FTC Bid to Halt Novant-CHS Deal https://t.co/brmKheGxcz #FTC #Health #Merger @ChiefHealthExec https://t.co/xs4XaBbuFg
Judge denies FTC request to block Novant Health-CHS deal https://t.co/A8jElQYsdK
Court Denies FTC Bid to Halt Novant-CHS Deal https://t.co/brmKheGxcz #FTC #Health #Merger @McDermottLaw https://t.co/p6rWWdMjFy