California’s AB 3129: A New Hurdle for Private Equity Health Care Transactions on the Horizon?
Antitrust Law Blog
by John Carroll, Matthew Goldman, Jordan Grushkin, Julia D'Errico and Rachel Guy
4d ago
Parties involved in or considering health care transactions in California have been focused on navigating the new rules set by California’s Office of Health Care Affordability (OHCA),[1] and newly proposed legislation could present additional challenges in consummating certain health care transactions, particularly those involving private equity. Introduced in February 2024, California’s Assembly Bill 3129 seeks to curb consolidation in the health care industry allegedly driven by private equity firms and hedge funds. As summarized in greater detail below, the bill would require that these par ..read more
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The FTC Hosts Workshop on Private Equity in Health Care
Antitrust Law Blog
by John Carroll, Joy Siu and Jake Walker
1M ago
On March 5, 2024, the Federal Trade Commission (“the FTC”) hosted a public workshop titled “Private Capital, Public Impact: An FTC Workshop on Private Equity in Health Care”, which covered the impact of private equity investment on the health care system. The workshop included panelists from the FTC, the Department of Justice (“the DOJ”), the Department of Health and Human Services (“HHS”) (together, “the Agencies”), academic thought-leaders, and health care professionals. On the same day as the workshop the Agencies launched a “Cross-Government Inquiry on Impact of Corporate Greed in Health C ..read more
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Webinar: Navigating Increased Scrutiny for Health Care Deals in 2024
Antitrust Law Blog
by Eric Klein, John Carroll and Jordan Grushkin
2M ago
Are you considering a transaction in the healthcare industry?  Join us for our complimentary webcast, Navigating Increased Scrutiny for Health Care Deals in 2024. Together with Moss Adams and America’s Physician Groups, we’ll address the new pressures facing health care systems, private equity investors, providers, and other stakeholders looking to complete a transaction in the health care ecosystem, as health care deals continue to face antitrust and regulatory scrutiny by the Department of Justice (DOJ), the Federal Trade Commission (FTC)—and now, the Department of Health and Human Serv ..read more
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China Raises Turnover Threshold for Anti-Monopoly Filing in M&A Deals
Antitrust Law Blog
by Michael Zhang, Yuanmei Lu and Zhenye Wang*
2M ago
On January 26, 2024, the State Council of China published the “Regulations of the Filing Threshold for Operators’ Concentration (2024 Revision)” (the “New Filing Threshold”), which took effect on the same day. This amendment to the filing thresholds for operators’ concentration will enhance the allocation of anti-monopoly enforcement resources, and represents another step China takes to improve its competition policy, and foster the development of a more transparent and efficient competition regulatory framework. 1. Significantly increased the turnover thresholds for operators’ concentration f ..read more
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Aggressive Procurement Collusion Enforcement Risk Remains High for 2024
Antitrust Law Blog
by Ann O'Brien, A. Joseph Jay, III, Jason Hoggan and Rachel Guy
2M ago
In 2019, the Department of Justice created the Procurement Collusion Strike Force (PCSF or Strike Force), a joint law enforcement effort to combat antitrust crimes and related fraudulent schemes that impact government procurement, grant, and program funding at all levels of government—federal, state and local. The PCSF is a constellation of partnerships among the Antitrust Division of the U.S. Department of Justice, multiple U.S. Attorneys’ Offices around the country, the Federal Bureau of Investigation (FBI), and the Inspectors General for multiple federal agencies working together to crack d ..read more
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Protective Packaging: The EU’s Economic Security Package Changes the Landscape in Global Technology Controls
Antitrust Law Blog
by Reid Whitten and Julien Blanquart
2M ago
The EU plans to step up controls on its home-grown technology. That is the short version. The longer version is a (pretty dry) recitation of the proposed legislation and whitepapers that were published last week as the European Economic Security Package (ESP). We provide that (really dry . . . sorry) summary below, but hit the highlights and interesting points here, at the start. Because, in this blog (as in life) we’re here for a good time, not a long time. The Five, Real Fast The new ESP comprises plans for the EU to undertake the following: 1. Foreign Direct Investment Screening – Patrollin ..read more
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The EU Commission Gets Serious About Foreign Direct Investment Screening
Antitrust Law Blog
by Dimitris Vallindas and Anton Gerber
2M ago
As part of its European Economic Security Package, the European Commission (‘Commission’) has recently proposed a number of legislative proposals and White Papers intended to better protect Europe’s strategic interests. We have covered the wider initiative here. This blog post discusses one specific aspect: the proposal for a revised FDI Screening Regulation (‘Proposal’). The Proposal is intended to repeal and replace the existing legal instrument enacted to provide a handle on the acquisition of foreign control over strategic EU assets, Regulation 2019/452, commonly known ..read more
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Higher Jurisdictional and Filing Fees Thresholds for HSR Act Premerger Notifications and Interlocking Directorates Announced
Antitrust Law Blog
by John Carroll, Leo Caseria, Malika Levarlet and Bevin Newman
3M ago
1. Higher Jurisdictional Thresholds For HSR Filings On January 22, 2024, the Federal Trade Commission announced revised, higher thresholds for premerger filings under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act). The jurisdictional thresholds are revised annually, based on the change in Gross National Product (GNP). The new thresholds will become effective 30 days after publication in the Federal Register. Acquisitions that close on or after the effective date will be subject to the new thresholds. The HSR Act notification requirements apply to transactions that satisfy t ..read more
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The Wait is Over: DOJ and FTC Issue Final Merger Guidelines
Antitrust Law Blog
by John Carroll, Leo Caseria, Bevin Newman, Thomas Dillickrath, Malika Levarlet, Rachel Guy and Jake Walker
4M ago
On December 18, 2023, the Federal Trade Commission and Department of Justice (the “Agencies”) jointly issued Final Merger Guidelines, following a public comment period on the Proposed Merger Guidelines first issued in July. The Final Merger Guidelines update and replace the 2010 Horizontal Merger Guidelines and the rescinded 2020 Vertical Merger Guidelines. The Final Merger Guidelines kept important components from the Proposed Merger Guidelines (e.g., lower thresholds rendering certain transactions presumptively illegal, focus on cumulative effects of multiple acquisitions, etc.). Among the m ..read more
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FTC, DOJ, and HHS Announce Interagency Initiatives to Promote Healthcare Competition
Antitrust Law Blog
by John Carroll and Joseph Antel
4M ago
Last week the Federal Trade Commission (FTC) issued a press release highlighting recent and forthcoming actions by the FTC, Department of Justice (DOJ), and the Department of Health and Human Services (HHS), which they say will further promote competition, thereby lowering costs and increasing the quality of care in the U.S. health care market. In addition to highlighting recent actions by each of the agencies (e.g., the FTC’s proposed non-compete rule), the release states that the three agencies are entering into new partnerships to increase interagency cooperation and advance a “whole-of-gov ..read more
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