The Federal Trade Commission has agreed to not challenge the proposed merger of Boston-based Partners HealthCare and Providence, R.I.-based Care New England, according to WPRI-12 News.
Here are three things to know:
1. A spokesperson for the FTC and a Partners spokesperson confirmed the FTC's approval in separate statements to WPRI-12 News. He said the health system's next step is to formally file for approval in Rhode Island, which executives will reportedly do by the end of December. The deal requires approval by the Rhode Island attorney general's office and the state's health department.
2. News of the FTC's decision was first made public by Partners CFO Peter Markell in an interview earlier this week with the Boston Business Journal. He confirmed the health systems have asked Rhode Island regulators to fast-track their review of the merger and said officials expect a decision by the end of April 2019. He also noted Partners officials do not expect Massachusetts regulators to require the health system to win state approval for the transaction, according to the report.
3. Partners announced its intent to buy CNE in April 2017. The health systems were also in talks with Providence-based Lifespan, the state's largest health system, to be part of the deal. While negotiations fell through earlier this year, Mr. Markell told the Boston Business Journal all three entities are still in conversation with one another.
"The decision was let's get CNE done and we will see where we go from there. The parties were OK with that. And everyone still talks to each other," Mr. Markell said.
To access the full report, click here.