As antitrust enforcement in the U.S. comes under scrutiny, the American Hospital Association and 21 other organizations are urging Congress to avoid large changes to the legal and regulatory framework for evaluating mergers and acquisitions, arguing that, even with current regulations, the government wins in most instances.
The organizations said the current regulations give the government the power it needs to review and challenge the deals that raise competitive concerns while allowing deals of benefit to the American economy and consumers to move forward.
"We strongly encourage Congress to refrain from making changes to the legal structures that have served consumers well, while also advancing our economic competitiveness," the organizations wrote.
The organizations also said that over the past 20 years, federal enforcement agencies have challenged about 780 mergers, and the merging parties have won in court only 11 times. In other instances, parties abandoned the deal or settled with the government via a sale of a unit or the government won in court.
"There can be little dispute that the government already has the ability to protect competition; where it has intervened, it has a success rate of 98.5 percent," the organizations said.
The organizations said they oppose efforts to add roadblocks that limit or prohibit mergers and shift the burden of proof on mergers.
They also are worried that some suggested policies introduced into Congress could "deeply chill" mergers and acquisitions.
Among the other lobbying organizations that signed the letter are Advanced Medical Technology Association, Biotechnology Innovation Organization, Medical Device Manufacturers Association, Pharmaceutical Researchers and Manufacturers of America and U.S. Chamber of Commerce.
Read the full letter here.