The NH Department of Justice Charitable Trusts Unit and Consumer Protection and Antitrust Bureau have completed their respective reviews of the proposed acquisition of Frisbie Memorial Hospital in Rochester by the Hospital Corporation of America (HCA) through a subsidiary, FMH Health Services (FMH). Attorney General Gordon McDonald will take no action to oppose the proposed transaction at this time.
Frisbie is an acute-care community hospital with 88 beds. It provides inpatient and outpatient services to over 100,000 people in the Seacoast. It is a nonprofit health care charitable trust organized under NH law. HCA is a for-profit corporation based in Nashville, Tennessee. It owns 185 hospitals in 21 states and in the United Kingdom. In NH, HCA owns Portsmouth Regional Hospital, a 220-bed hospital with a Level II trauma center located in Portsmouth as well as Parkland Medical Center located in Derry.
“We are pleased with the Attorney General’s confirmation and are continuing to work through the due diligence,” said Tim McManus, president of HCA Healthcare’s Capital Division. “Frisbie has served the Rochester community for over 100 years and, together, we are excited to continue this legacy of caring for many years to come.”
The Charitable Trusts Unit is required to review acquisition transactions involving nonprofit hospitals. The review included extensive documentation, community, and stakeholder input, as well as expert opinions regarding the transaction. The basis for its decision and the imposition of conditions are outlined in detail in the report of the director of charitable trusts.
In a separate review, the Consumer Protection and Antitrust Bureau performed a pre-transaction antitrust review to analyze the potential impact that the proposed transaction may have on the competitive landscape. This review established that while the proposed transaction is not competitively neutral, its potential impact on competition as analyzed does not warrant formal action at this time.
The Attorney General's Office will vigorously use its authority to ensure that competition is protected in the health care marketplace for the benefit of consumers. The Office reserves the right to take action authorized under law to address and remedy anticompetitive conduct and harm to consumers that may arise in the future. Consumer Protection and Antitrust Bureau's no-action letter