Louisiana Federal Court Rules COPA Statute Exempts Merger from HSR Requirements
This Bulletin is brought to you by AHLA’s Antitrust Practice Group.
- November 02, 2023
- Jared Nagley , Paul Weiss Rifkind Wharton & Garrison LLP
- Neil Chitrao , Paul Weiss Rifkind Wharton & Garrison LLP
On September 27, 2023, the U.S. District Court for the Eastern District of Louisiana granted a motion for summary judgment against the Federal Trade Commission (FTC) filed by the Louisiana Children’s Medical Center (LCMC), HCA Healthcare, Inc. (HCA), and the state of Louisiana regarding LCMC’s acquisition of three hospitals operated by HCA. In finding for LCMC, the court credited LCMC’s argument that the state’s issuance of a Certificate of Public Advantage (COPA) approving the transaction was sufficient under the state action doctrine to exempt it not only from federal antitrust law, but also from the notification and filing requirements of the Hart-Scott-Rodino Act (the HSR Act). The court’s ruling represents a novel use of the state action doctrine to limit federal regulatory intervention in health care mergers.
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