State's anti-trust bureau says it won't oppose Frisbie acquisition by HCA

The announcement is good news for Frisbie, the City of Rochester and the residents the hospital serves. (Courtesy photo)

CONCORD - The New Hampshire Attorney General's Office today announced that the New Hampshire Department of Justice Charitable Trusts Unit and Consumer Protection and Antitrust Bureau will not oppose the proposed acquisition of Frisbie Memorial Hospital by the Hospital Corporation of America.

According to today's announcement from the AG's office, the Consumer Protection and Antitrust Bureau reviewed the proposed transaction under uniform and established state and federal legal standards and antitrust guidelines, the same standards and guidelines used by the Bureau with respect to other transactions involving health care systems.

The 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 statement read.

"Some relevant factors supporting this conclusion include the following: first, although Frisbie and Portsmouth Regional Hospital are less than 30 miles apart, each hospital primarily draws from a different patient base; second, Frisbie employs a relatively modest number of physicians in the Seacoast region and, comparatively, HCA employs a smaller number of physicians than Frisbie; and, third, this transaction, if completed, could make it more likely that Frisbie will be competitive with hospitals that are in the region, thereby helping to maintain and foster competition," the statement from the Bureau read.

The Bureau statement said it expects that, post-closing, the combined system will comply with all applicable laws intended to facilitate competition.

The proposed acquisition will be through a subsidiary, FMH Health Services, LLC.

At Friday's annual meeting of the Rochester Chamber of Commerce, hosted by Frisbie Memorial Hospital, Frisbie CEO and President Dr. Jocelyn Caple said she was hopeful the acquisition would be OK'd.

A Frisbie spokesperson said just minutes ago that hospital officials are working on a statement to give media outlets. The AG's statement came out around 2:25 p.m.