On November 20, 2023 Welsh Carson ("Welsh") and U.S. Anesthesia Partners, Inc. ("USAP") filed their respective motions to dismiss the Federal Trade Commission's ("FTC") case against them just in time for the holidays.

You don’t need to read beyond the first paragraph of USAP’s motion to see who they allege are the real robber barons enriching themselves off the American healthcare system. Spoiler Alert: It's Texas' four largest insurers...

And, instead of getting to catch their breath over the holidays, Welsh and USAP must now respond to the Electrical Medical Trust and Plumbers Local Union No. 68 Welfare Fund's class action lawsuit, which alleges the union-affiliated benefits plans overpaid USAP for anesthesia services because of the defendants’ “multi-year anticompetitive scheme … to monopolize hospital anesthesia services in Texas, drive up prices, and increase profits.”

Leaving allegations related to conspiracy and price-fixing aside, what remains most interesting for those of us who work in the health care private equity space is the scrutiny on the practice roll-up strategy, as well as the claims against the private equity companies behind the portfolio company.

Whether you are a patient, payer, provider, funder, payvider or fundvider, Happy Holidays and enjoy the below reading material. In the meantime, Munsch Hardt's Health Care Team will continue monitoring and providing updates on these cases, bringing to your attention any potential impact on private equity in health care.

To read the full motion, click here.