MOORESVILLE, N.C. — The sale of two regional hospitals can move forward, despite opposition from the federal government.
The $320 million deal has come under fire by the Federal Trade Commission. In January, the FTC filed a request for a temporary injunction asking a judge to pause the sale of Lake Norman Regional Medical Center and Davis Regional Medical Center.
The feds claimed “the loss of competition would likely result in millions of dollars in increased healthcare costs.”
There are also consequences for the public if the sale does not move forward, mainly that Davis Regional would be forced to close.
On Wednesday, Judge Kenneth Bell denied the petition, giving Novant Health the green light to acquire the hospitals. Bell said Novant promised not to increase prices at either hospital for at least three years.
The FTC is still continuing its own investigation into the merger but for now, there’s nothing stopping Novant from buying the hospitals.
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