Private Equity in Healthcare: FTC v. U.S. Anesthesia Partners and Welsh Carson

ABA Antitrust Law Section

The Federal Trade Commission (FTC) and U.S. Department of Justice (DOJ) are continually focused on investigating the impact of consolidation in healthcare. More recently, the agencies have expressed a renewed interest in for-profit medicine. In March 2024, the agencies, along with the U.S. Department of Health and Human Services, issued a Request for Information on the effects of private ownership on healthcare providers and ancillary services. The FTC’s recent challenge of U.S. Anesthesia Partners (USAP) and Welsh, Carson, Anderson & Stowe (Welsh Carson) and the Court’s recent dismissal of  Welsh Carson from the case raise the issue of the liability of private equity firms’ investment in healthcare roll-ups and serial acquisitions. Here, we explore the FTC’s allegations against USAP and Welsh Carson, as well as literature on trends and the impact of private equity in healthcare.

Read more in this piece published by the ABA Antitrust Law Section.


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