Vertical Mergers in Healthcare: Implications of AT&T/Time Warner Decision

Guidance on How Regulators Will Review and Evaluate Consolidation; Overcoming Antitrust Hurdles

Recording of a 90-minute CLE webinar with Q&A


Conducted on Wednesday, October 24, 2018

Recorded event now available

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Program Materials

This CLE webinar will guide healthcare counsel on the implications of the AT&T/Time Warner decision on vertical mergers in the healthcare industry. The panel will examine what parties and their counsel must consider when putting together a healthcare deal and the antitrust hurdles they will need to overcome.

Description

The healthcare industry has seen its share of vertical mergers, such as hospital acquisitions of physician practices and payers acquiring providers. As healthcare costs continue to rise and payers move to a value-based model, more vertical integration is expected. In the highly regulated industry, these deals are often more complex and may include horizontal components.

In June 2018, a federal judge cleared the $85.4 billion merger of AT&T and Time Warner, rejecting the DOJ claims that the transaction may substantially lessen competition. The court’s ruling, widely viewed as significant, is currently subject to appeal to the DC Circuit Court of Appeals.

Enforcement activity involving vertical mergers has not received as much attention as enforcement actions involving horizontal transactions. However, as markets continue to consolidate, these deals are drawing more attention. Companies and counsel must understand the uncertain environment of vertical merger enforcement.

Listen as our authoritative panel discusses vertical mergers in the healthcare industry, the implications of the AT&T/Time Warner decision and the lessons from how regulators treated that deal. The panel will also examine what parties and their counsel must consider when conducting a healthcare deal and the hurdles they will need to overcome as well as the horizontal components that may arise.

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Outline

  1. Overview of DOJ’s theory of enforcement in AT&T/Time Warner decision
  2. Implications of the court’s AT&T/Time Warner decision
  3. What parties and their counsel must consider when involved in vertical healthcare transactions
  4. Hurdles to vertical consolidation
  5. Considerations of horizontal components of a vertical healthcare transaction

Benefits

The panel will review these and other relevant issues:

  • What are the lessons from recent cases regarding a vertical transaction in healthcare?
  • How will the enforcement agencies and courts deal with vertical mergers in healthcare going forward?
  • What are the potential antitrust hurdles to overcome to get a vertical transaction done?

Faculty

Brennan, Jeffrey
Jeffrey W. Brennan

Partner
McDermott Will & Emery

Mr. Brennan focuses his practice on mergers, litigation, government investigations and counseling, with extensive...  |  Read More

Burns, James
James M. Burns

Partner, Healthcare Antitrust
Akerman

With extensive experience handling healthcare antitrust matters, Mr. Burns litigates antitrust and related claims in...  |  Read More

Steren, E. John
E. John Steren

Member
Epstein Becker Green

Mr. Steren devotes a significant portion of his practice to helping healthcare organizations manage the antitrust risks...  |  Read More

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