Early in the process, health system leaders said they reached a deal with FTC officials: If the proposed merger was approved by health officials in Virginia and Tennessee, MSHA and Wellmont would wait to finalize the merger until after the FTC completed its 30-day review, according to the report.
A spokesperson for MSHA told the Johnson City Press the FTC has yet to take formal action against the merger. The spokesperson also said the FTC did not provide any feedback or recommendations about the proposed deal during its review.
“The investigation is still open, and we are aware that the state of Tennessee has yet to officially issue the [certificate of public advantage] certificate. That’s about as much as we have to say right now,” a spokesperson for the FTC told the Johnson City Press via email.
Should the FTC choose to block the merger, health system officials said the offices of the Virginia and Tennessee attorneys general would defend each state’s approval of the merger, the report states.
However, if the FTC does not formally oppose the merger, leaders at both health systems expect the merger to close on or sometime before Jan. 31, 2018, the MSHA spokesperson told the Johnson City Press.
To read the full report, click here.
More articles on transactions and valuations:
Mark Twain Medical Center director: Dignity Health should continue managing hospital
Recent hospital M&A fever triggering ‘land grab’ from competing systems
Why hospitals are consolidating to ward off insurers: 4 takeaways
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.