The Federal Trade Commission on Thursday sued to block Novant Health ’s $320 million bid to buy two Iredell County hospitals.
The proposed deal involves Lake Norman Regional Medical Center in Mooresville and Davis Regional Medical Center , a behavioral health hospital in Statesville. Both hospitals are north of Charlotte. Community Health Systems , based in Franklin, Tennessee, owns the hospitals.
“There is overwhelming evidence that Novant’s deal with Community Health Systems will be detrimental to patients, including leading to higher out-of-pocket costs for critical health care services,” Henry Liu, director of the FTC’s Bureau of Competition, said in a statement.
Novant Health, in a statement, called the FTC’s position “flawed”
But North Carolina Attorney Gen. Josh Stein said he agrees with the commission.
“Our office appreciates the FTC’s continued commitment to preserving competition in health care in North Carolina,” Stein said in a statement. “We have been investigating alongside the FTC and are continuing to take a close look at this matter.”