NC Treasurer Supports FTC Blocking Large Health System Purchase 

By Consumers for Quality Care, on May 8, 2024

NC Treasurer Supports FTC Blocking Large Health System Purchase 

North Carolina Treasurer Dale Folwell is supporting the Federal Trade Commission’s (FTC) effort to block Novant Health’s $320 million proposal to buy two Community Health Systems hospitals, according to Fierce Healthcare

Folwell has been a leading voice against health care mergers, which often decrease competition, raise the cost of care for consumers, and reduce the quality of care that they receive. In his amicus brief, Folwell notes that Novant Health, a nonprofit health care system, makes “extraordinary profits,” sues consumers that owe medical debt, and “generally fail(s) to provide sufficient charity care to justify their tax-exempt status.” 

Novant Health is already one of the largest hospital systems in the Southeast with 16 medical centers and 700 medical group clinics, serving over 6.7 million consumers annually. It is also one of the most expensive and profitable health systems in the country, reporting $7.6 billion in total operating revenues in 2022.   

Decreased competition hurts consumers, often leading to fewer options for care and higher out-of-pocket costs. CQC urges regulators and lawmakers to scrutinize hospital mergers. Consumers should not have to foot the bill for anti-competitive practices.