Overview of Settlement Terms
After the required 30-day public comment period, a final order by the Commission, and the expected dismissal of the injunction by the federal court, Phoebe will resume its activities associated with bringing the greatest benefit to our community from the two consolidated Albany hospital facilities.
The FTC order, of course, brings closure to the 2 ½ years of uncertainty for our north campus Phoebe Family members. We will soon be able to put this proceeding behind us and move forward with our plans to deliver world-class medical care for women and children, to provide new and expanded in-patient rehabilitation services, and to increase Phoebe’s ability to handle critically injured and ill patients who need intensive care.
The FTC settlement terms:
In order to reach the settlement that allows the transaction to proceed, Phoebe Putney
and the Authority have agreed:
that for the next 10 years they will not make certain acquisitions without prior notification to the FTC;
that for the next five years, or until another hospital is granted a Certificate of Need (CON), whichever comes first, they will not object to certain CON applications;
that solely to achieve a compromise with the FTC, the acquisition of Palmyra might substantially lessen competition within the service and geographic markets alleged by the FTC; and
to make annual reports on compliance with these provisions for the next 10 years.
The FTC posted on its website http://www.ftc.gov/os/adjpro/d9348/index.shtm an announcement that the FTC has entered an order which incorporates settlement terms which the Hospital Authority, Phoebe Boards and the Commission have agreed upon.