WASHINGTON (Legal Newsline) — The Federal Trade
Commission (FTC) has announced it has approved ProMedica Health System’s
divestiture of former rival, St. Luke’s Hospital, under the provisions of an
FTC order and after a public comment period.
Because of the divestiture, St. Luke’s Hospital will operate
as an independent, standalone community hospital for the Toledo, Ohio, area.
ProMedica first acquired St. Luke’s in August 2010. However, the FTC challenged
the acquisition. St. Luke’s was kept separate from ProMedica while the FTC
looked into the matter, initially through an agreement with the two companies
and later by a federal district court.
In 2012 the FTC ruled the acquisition could
substantially lessen competition in the region and increase prices for general
acute-care inpatient hospital services as well as inpatient obstetric services
sold to commercial health plans. The U.S. Court of Appeals for the Sixth
Circuit upheld the ruling.
The FTC voted 3-0 to approve the proposed divestiture.
Organizations in this Story
U.S. Federal Trade Commission
600 Pennsylvania Ave NW
Washington, DC 20580
Get notified the next time we write about
U.S. Federal Trade Commission !