The FTC revealed in February its intent to sue to obstruct the merger, arguing that integrating the 2 systems would decrease competitors in Philadelphia and Montgomery County.
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Alia Paavola –
Friday, September 4th, 2020
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A Sept. 14 hearing is slated on the FTCs preliminary injunction demand..
” Einstein was not able to determine any alternative buyer to Jefferson that had the monetary strength and scale required to address Einsteins financial issues,” the filing read, according to the Inquirer. © Copyright ASC COMMUNICATIONS 2020. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.
The health systems are trying to get rid of opposition to their merger from the Pennsylvania chief law officer and the Federal Trade Commission.
” Einstein was unable to identify any alternative buyer to Jefferson that possessed the financial strength and scale necessary to deal with Einsteins financial problems,” the filing read, according to the Inquirer.
A court filing from the 2 health systems argued that Einstein, which has just had yearly operating earnings two times given that 2012, is on a course to monetary failure and requires $500 million to buy key capital projects and delayed maintenance..
Without the infusion, Jefferson and Einstein said Einstein will continue to deteriorate “as it is required to cut services or close facilities,” the Inquirer reported.
The FTC stated that with a combination, the two parties would own at least 60 percent of the inpatient general severe care service market around Philadelphia and at least 45 percent of that same market in Montgomery County.
The merger of Einstein Healthcare Network and Jefferson Health refers survival for Einsteins flagship medical facility, the 2 Philadelphia systems argued in a federal court filing this week, according to The Philadelphia Inquirer.
” Jefferson and Einstein have a history of contending versus each other to improve quality and service,” the FTC stated in the February statement. “The proposed merger would get rid of the robust competition in between Jefferson and Einstein for inclusion in medical insurance companies hospital networks to the detriment of clients.”.