FTC rules against Promedica, St. Luke's
Wed, 28 Mar 2012 19:44:49 GMT —
A huge setback in the merger between Promedica and St. Luke's Hospital.
The Federal Trade Commission has ordered Promedica to sell St. Luke's to a government approved acquirer within six months.
The FTC ruled that the partnership between the two is anti-competitive and could mean higher costs at the Maumee hospital and other Promedica institutions.
Promedica released this statement on Wednesday:
"As expected, the FTC commissioners have supported the decision of the Administrative Law Judge's ruling to divest St. Luke's Hospital from ProMedica. The FTC commissioners originally initiated the legal action against this joinder, so we are not surprised by their decision. Still, we are very disappointed. ProMedica intends to appeal this decision to the Sixth Circuit Court of Appeals in Cincinnati, where we have always believed we have the best opportunity to get a fair and impartial review of our case. We look forward to the opportunity to correct the legal errors in the FTC decision in our appeal to the 6th Circuit. Meanwhile, St. Luke's Hospital remains a member of ProMedica, continues to serve patients, and accept all current health plans."