Novant Abandons Hospital Deal After FTC Wins Extended Freeze (2)

Novant Health Inc. abandoned a $320 million deal to buy two North Carolina hospitals after an appeals court extended a freeze on the acquisition amid a dispute with the Federal Trade Commission.

“We are steadfast in our belief that these facilities and their patients would have greatly benefited from joining Novant Health, but with the FTC’s continued roadblocks we do not see a way to finalize this transaction,” a Novant spokesperson said in a Tuesday statement.

The move represents a win for the FTC, which has made consolidation in the healthcare market a priority during the Biden administration. The agency ...