Court Grants FTC Injunction to Block Phoebe Putney Purchase
The injunction does not negate the merger deal altogether. As previously reported, Phoebe Putney planned to acquire Palmyra for $195 million, but the FTC claimed Phoebe Putney's purchase of Palmyra would create a monopoly in the Albany region.
An Albany Herald report said Palmyra's parent company, Nashville, Tenn.-based HCA, claimed the injunction on the merger is harming the company, but the FTC argued both Phoebe Putney and HCA are subject to antitrust review.
In a statement, FTC Bureau of Competition Director Richard Feinstein said the FTC intends "to show that the proposed transaction — which will lead to a monopoly in the Albany, Ga., area — will result in higher healthcare costs for local patients and should not be immune from federal antitrust scrutiny."
Related Articles on Phoebe Putney:
FTC to Appeal Decision Allowing Acquisition of Palmyra Medical Center
Judge Sides With Phoebe Putney Over FTC, Says Free to Acquire Palmyra
Georgia District Court Hear Arguments Regarding Injunction Filed Against Phoebe Putney, Others
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