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Private Equity Federal Trade Commission (FTC)

ArentFox Schiff

Private Equity Investment in Health Care Providers and Technology – 2025 Midyear Outlook

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As of mid-2025, private equity (PE) investors remain intensely interested in health care services and technology companies despite higher borrowing costs, heightened regulatory scrutiny, and an increasingly complex state...more

Cadwalader, Wickersham & Taft LLP

The Robinson-Patman Act: Public Enforcement Rejoins the Private Bar

Building upon developing momentum in the courts and among commentators, government enforcers and the private bar have seen recent successes in litigation involving the Robinson-Patman Act (RPA). The FTC in April notched a win...more

Baker Botts L.L.P.

Antitrust Scrutiny of Investors Under a New Administration

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Under the old guard of the prior administration, private equity was repeatedly under fire for alleged “flip and strip” tactics that were supposedly “at odds with competition.” Now, with new enforcers in place, a different...more

Greenbaum, Rowe, Smith & Davis LLP

Legal Risks and Challenges for Private Equity in Healthcare Acquisitions

Private Equity (PE) firms continue to be significant players in U.S. healthcare, acquiring assets across various sectors such as physician practices, home health, behavioral health, and urgent care. However, recent legal...more

Parker Poe Adams & Bernstein LLP

New FTC Consent Order Against Health Care-Focused Private Equity Firm Has Antitrust Implications

Last week, the Federal Trade Commission (FTC) approved a final consent order with a private equity firm focused on health care and technology to resolve allegations of anticompetitive practices in two anesthesiology markets...more

Holland & Knight LLP

Podcast - Navigating the New Landscape of Private Equity in Healthcare

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In this episode of "Counsel That Cares," Arjan Peters from Capstone moderates a conversation with his colleague Grace Totman, Holland & Knight healthcare attorney John Saran and Association for Responsible Healthcare...more

Goodwin

Antitrust & Competition Healthcare Quarterly Update Q1 2025

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While M&A activity has slowed in the tail end of the first quarter of 2025, including in healthcare, there have been several noteworthy developments in the antitrust space in the first 100 days of the Trump Administration. ...more

Ankura

Quarterly Healthcare Transactions Review: Unveiling the Latest Industry Mergers and Acquisitions

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Ankura is pleased to present an overview of healthcare services transactions announced or closed during Q4 2024 in the United States. Total transactions decreased by 10.4 percent in the fourth quarter of 2024 after decreasing...more

Troutman Pepper Locke

Illinois and Minnesota AGs Join FTC’s Lawsuit Against Private Equity Firm

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Illinois Attorney General (AG) Kwame Raoul and Minnesota AG Keith Ellison have joined the Federal Trade Commission (FTC) in a lawsuit to block the acquisition of Surmodics Inc. by GTCR BC Holdings LLC, two major manufacturers...more

Mintz - Antitrust Viewpoints

Trump Antitrust Enforcers Outline “America First” Antitrust Enforcement

Over the past few weeks, several Trump Administration antitrust enforcers at both the Federal Trade Commission (“FTC”) and U.S. Department of Justice Antitrust Division (“DOJ Antitrust”) have written or spoken about the...more

Axinn, Veltrop & Harkrider LLP

Five Healthcare Antitrust Topics to Watch at the Upcoming Health Care Transactions Conference in Nashville

Each May, the American Health Law Association holds its Health Care Transactions Conference in Nashville, Tennessee. In addition to panels covering a wide variety of non-antitrust transactions issues (Stark Law, anyone?), we...more

Frost Brown Todd

Antitrust Developments Update for April 2025

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In our last antitrust developments publication, we commented on the challenge to the new Hart-Scott-Rodino Antitrust Improvements Act (HSR Act) final rule brought by the U.S. Chamber of Commerce and other parties in the...more

McDermott Will & Emery

Antitrust Under Trump: April 2025 Updates

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As the Trump administration’s antitrust landscape continues to develop, companies should stay alert to key changes in merger filing requirements, remedy expectations, agency personnel, and more. Signs indicate we are entering...more

Axinn, Veltrop & Harkrider LLP

Axinn Associates at the Antitrust Spring Meeting: The Future of Healthcare Mergers

The Spring Meeting is the largest gathering of competition, consumer protection, and data privacy profes­sionals globally, with lawyers, academics, economists, enforcers, journalists, and students from around the world....more

HaystackID

March 2025 HSR Filings Hit Five-Year Low Amid Regulatory Overhaul and Legal Challenge

HaystackID on

The federal premerger notification program administered under the Hart-Scott-Rodino (HSR) Act recorded just 89 transactions in March 2025, marking the lowest monthly filing total in nearly five years. This downturn is the...more

Frost Brown Todd

Antitrust Developments Update for March 2025

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The Federal Trade Commission (FTC) adjusts the minimum dollar jurisdictional thresholds that determine reportability under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act) based on changes to gross national...more

BCLP

Embrace Tradition, Reject Modernity? Recent FTC and DOJ Deal Challenges Show Preference for Traditional Antitrust Theories of Harm

BCLP on

Both the Federal Trade Commission (FTC) and Department of Justice (DOJ) Antitrust Division have now brought cases challenging deals under President Trump’s administration. In many respects, the theories of harm alleged in...more

Foley & Lardner LLP

A Delay in Exit Plans

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There was much hope going into 2025 that we would see a rebound in the IPO market after a bit of a drought over the past few years. We left the uncertainty of the election behind us, and good news on the inflation and...more

Goodwin

States Continue to Pursue and Expand Healthcare Market Oversight at an Unprecedented Pace, with Significant Implications for...

Goodwin on

In recent years, states have shown an increased interest in regulating healthcare markets. The trend has accelerated further since the start of 2025, with a flurry of proposals in at least 12 states. ...more

Jenner & Block

Client Alert: FTC Challenges Medical Device Coating Transaction

Jenner & Block on

On March 7, 2025, the FTC filed a complaint in federal court seeking to block GTCR BC Holdings, LLC, a Chicago private equity firm, from acquiring Surmodics, Inc. The FTC alleges that Surmodics is the leading provider of a...more

Goodwin

FTC’s First Merger Challenge Under New Leadership Signals Return to Traditional Antitrust Theories in Private Equity Deals

Goodwin on

On March 6, 2025, the Federal Trade Commission (FTC) filed a lawsuit in federal court challenging GTCR BC Holdings, LLC's (GTCR) proposed acquisition of Surmodics, Inc. (Surmodics). The complaint alleges that the transaction...more

Axinn, Veltrop & Harkrider LLP

GTCR / Surmodics: Four Key Takeaways for M&A Antitrust from the First FTC Merger Challenge Under Trump

In the FTC’s first merger challenge of the new administration, the FTC voted 4-0 last week to challenge the proposed acquisition of Surmodics by private equity firm GTCR BC Holdings (“GTCR”). As the Trump administration’s...more

A&O Shearman

Antitrust in focus - February 2025

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Now out: our latest global trends in merger control enforcement report - In this tenth edition of our annual report, we analyze data for 2024 from 26 jurisdictions to reveal the latest trends in global merger control and...more

Arnall Golden Gregory LLP

Healthcare Authority Newsletter - February 2025 #4

News Briefs - Healthcare Industry Prepares for Stricter FTC Merger Guidelines - The Federal Trade Commission will continue to use stricter guidelines inked by the Biden administration in reviewing corporate mergers, FTC Chair...more

A&O Shearman

Private equity and serial acquisitions continue to feel the antitrust heat

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Private equity acquisitions—notably roll-up strategies—continued to face antitrust scrutiny in 2024. As did serial acquisitions by non-PE acquirers. Headwinds were particularly strong in the U.S., but breezes from other...more

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