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The suit targeted a large doctors’ group that operates anesthesia practices in several states, claiming the group and the private equity firm advising and financing it were consolidating doctors’ groups in Texas so they could raise prices and increase their profits. The agency brought the civil lawsuit in federal court against U.S. Anesthesia Partners and Welsh, Carson, Anderson & Stowe, a private-equity firm in New York. “These tactics enabled USAP and Welsh Carson to raise prices for anesthesia services — raking in tens of millions of extra dollars for these executives at the expense of Texas patients and businesses,” said Lina M. Kahn, the chair of the F.T.C., in a statement. “The F.T.C. will continue to scrutinize and challenge serial acquisitions, roll-ups and other stealth consolidation schemes that unlawfully undermine fair competition and harm the American public.”

Persons: Anderson, Anderson & Stowe, Welsh Carson, ”, Lina M, Kahn Organizations: Federal Trade Commission, U.S, Anesthesia Partners, Anderson & Locations: Texas, Carson, New York

☆ FTC sues Texas anesthesiology provider to bust monopoly
▼ + stars: | 2023-09-21 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

Federal Trade Commission (FTC) Chair Lina Khan testifies before a House Judiciary Committee hearing on "Oversight of the Federal Trade Commission," on Capitol Hill in Washington, July 13, 2023. The Federal Trade Commission on Thursday sued the largest anesthesiology provider in Texas, claiming the company has wielded monopoly power to drive up prices for patients and boost its profits. The FTC asked a federal judge in Houston, Texas, to break up U.S. Anesthesia Partners alleged monopoly power and permanently bar the company from engaging in anticompetitive practices. The agency claims that New York-based private equity firm Welsh, Carson and Stowe founded U.S. Anesthesia Partners in 2012 to pursue an aggressive consolidation strategy that exploited Texas' fragmented market for anesthesiology providers. The FTC complaint says that Welsh Carson sought to make USAP the dominant provider in Texas by hoovering up the numerous independent practices that previously competed against each other, keeping prices lower.

Persons: Lina Khan, Stowe, Welsh Carson, hoovering Organizations: Federal Trade Commission, FTC, Anesthesia Partners Locations: Washington, Texas, Houston , Texas, New York, Carson

☆ The anesthesiologist who is putting you under may work for a private-equity firm
▼ + stars: | 2022-10-10 | by ( Gretchen Morgenson | Gretchen Morgenson Is The Senior Financial Reporter For The Nbc News Investigative Unit. A Former Stockbroker | She Won The Pulitzer Prize In For Her | ) www.nbcnews.com time to read: +12 min

But some physicians and patient advocates say the health care investments of private-equity firms and their drive to reap relatively short-term profits are inconsistent with putting patients first. Independent academic studies find that private equity’s laser focus on profits in health care operations can result in lower staffing levels at hospitals and nursing homes. Neither the FTC nor U.S. Anesthesia Partners responded to voice mails seeking comment; a spokesman for U.S. Anesthesia Partners confirmed the inquiry to the Journal, saying it is cooperating. NBC News asked both of NAPA’s private-equity owners about the disputes involving the company and the research showing higher costs associated with private-equity ownership of anesthesiology practices. Covid was sweeping the country and Moses Taylor was doing its best to respond to the health care crisis, according to its lawsuit.

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