Jefferson CFO Walks Back Stance At Einstein Antitrust Trial

Law360 (September 14, 2020, 11:10 PM EDT) -- Thomas Jefferson Health's finance chief conceded Monday during arguments over the Federal Trade Commission's bid to block a merger with Albert Einstein Healthcare that Jefferson had no evidence its partner was in danger of bankruptcy, despite painting Einstein's finances as "bleak" in earlier defenses of the deal.

The proposed merger with Albert Einstein could give the combined Philadelphia-area venture more clout with insurers, Jefferson CFO Peter L. DeAngelis Jr. said during the first day of arguments in the Pennsylvania federal trial over the FTC's bid for a preliminary injunction to block the deal pending an antitrust ruling by the agency.

Although Jefferson...

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