In the Headlines
May 28, 2024

Anesthesia 'Rollup' Decision May Hurry PE Regulator Suits

Antitrust attorney David Kully was quoted in a Law360 article discussing a recent Texas court decision involving the Federal Trade Commission's (FTC) case against an anesthesiology practice's alleged "rollup" strategy. The ruling stated that the FTC could pursue action against U.S. Anesthesia Partners Inc. but not the private equity firm Welsh Carson Anderson & Stowe, which may influence future regulatory actions. Mr. Kully described the decision as "a setback" for the FTC's efforts to address private equity rollup strategies, noting that the agency now faces a dilemma.

"The FTC's options would seem to be to move more quickly as to other rollup strategies they observe, but potentially have a weaker case if the strategy has not played out fully, or to target private equity companies that have elected to hold onto the assets for a longer period of time," he said.

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