FROM STAFF REPORTS
A U.S. District Court judge has thwarted an effort by federal regulators to block the sale of Davis Regional Medical Center and Lake Norman Regional Medical Center to Novant Health Care.
The court order, signed Wednesday by Judge Kenneth D. Bell, clears the way for the $320 million transaction between Novant and Community Health Systems Inc.
“We’re eager to welcome the Lake Norman and Davis facilities into the Novant Health network,” Novant CEO Carl Armato said in a news release Wednesday.
The Federal Trade Commission sought to block the sale, arguing in a lawsuit filed in U.S. District Court for the Western District of North Carolina in January that the acquisition of Lake Norman Regional would give Novant an unfair competitive advantage in the North Mecklenburg-South Iredell market. Novant also owns a hospital in Huntersville.
In his ruling denying the FTC’s request for a preliminary injunction, Judge Bell concluded that “the public interest is best served by Novant being permitted to own and operate” both hospitals.
Novant has pledged to keep Davis Regional — which transitioned to a behavioral health facility after the sale was announced — open and to shore up Lake Norman Regional by “adding staff, raising salaries, and making investments in equipment and infrastructure at LNR that will benefit patients and medical providers,” according to the 55-page court ruling.
Funny, isn’t it? I’m in my 80s and no longer have faith and trust in our Judicial System. Seen a host of ups and downs, but never anticipated our nation becoming a Banana Republic.
I wish Davis was still a hospital.
This is not good for consumers. As explained well on WAME by State Treasurer Dale Folwell, we need more competition in the healthcare industry, not more consolidation. Prices need to come down, not be inflated even more.
We need Davis to be a regular hospital again so we can have a choice. Without a choice, treatment is not as good because they know you cannot go anywhere else if you are in need of help.
To the ones who are against Novant acquiring the facilities you don’t work at the hospitals and don’t have a clue. It’s best for the community and for the employees. Novant has their competition in the area, and it’s Atrium and Iredell Health System. It’s a better company as well that cares about the community and patients’ needs. Healthcare prices aren’t coming down just like with everything else inflation is causing and will continue. You can’t charge less when everything costs more. As a former Davis employee, I really hope they convert it back to an acute facility than just behavioral health. I’m sure a lot of the former staff would like to return even the ones that are at Lake Norman. Might not be the same but the culture there made it a great place to work. I truly loved working there. #wewantDavisback