Pa. Hospitals Settle DOJ's Challenge Of $100M Deal
Law360 (March 3, 2021, 8:05 PM EST) -- The U.S. Department of Justice said Wednesday it has reached an agreement resolving its challenge of Geisinger Health's partial acquisition of Evangelical Community Hospital with a cap on Geisinger's ownership stake in the Pennsylvania provider and other restrictions.
The agreement settles the DOJ's enforcement action filed last year seeking to block a deal, initially set to give Geisinger a 30% stake in Evangelical in exchange for a $100 million investment. The agency said in a statement Wednesday that the settlement limits Geisinger to no more than a 7.5% passive interest in Evangelical and also removes other entanglements between the competing hospital...
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