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News You Need to Know Today
Business News: FTC settles with private equity practice | Corporatizing medicine | Health system mergers | Docs retiring young
Thursday, May 21, 2026
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Editor's Choice: Business News

FTC settles antitrust lawsuit against private equity-backed anesthesiology chain

Federal regulators alleged that U.S. Anesthesia Partners—a portfolio company of Welsh, Carson, Anderson & Stowes—engaged in a “roll-up scheme” in Texas that effectively eliminated the competition. The company denies the allegations, but has agreed to undisclosed terms that would see the lawsuit resolved. 

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Michigan has become the 20th state to opt out from federal regulations that require physician supervision of certified registered nurse anesthetists (CRNAs). The move was made to ensure access to value-based, high-quality care across the state, but it is being opposed by the Michigan Society of Anesthesiologists (MSA) and several other physician groups. Image from the American Association of Nurse Anesthesiology (AANA)
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FTC settles antitrust lawsuit against private equity-backed anesthesiology chain

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Michigan has become the 20th state to opt out from federal regulations that require physician supervision of certified registered nurse anesthetists (CRNAs). The move was made to ensure access to value-based, high-quality care across the state, but it is being opposed by the Michigan Society of Anesthesiologists (MSA) and several other physician groups. Image from the American Association of Nurse Anesthesiology (AANA)
Federal regulators alleged that U.S. Anesthesia Partners—a portfolio company of Welsh, Carson, Anderson & Stowes—engaged in a “roll-up scheme” in Texas that effectively eliminated the competition. The company denies the allegations, but has agreed to undisclosed terms that would see the lawsuit resolved. 
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Consolidation of physician practices proceeds apace, corporatizing medicine one acquisition at a time

The days when most doctors worked in independent practice settings are fading from memory like old photoprints in a musty scrapbook.

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doctor physician smartphone
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Consolidation of physician practices proceeds apace, corporatizing medicine one acquisition at a time

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doctor physician smartphone
The days when most doctors worked in independent practice settings are fading from memory like old photoprints in a musty scrapbook.
READ MORE >

UPMC to buy Catholic-based Trinity Health System from CommonSpirit

University of Pittsburgh Medical Center said the deal is expected to be finalized in Fall 2026. The move would expand its presence into Ohio. Details, such as the financial terms, have yet to be revealed. 

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UPMC to buy Catholic-based Trinity Health System from CommonSpirit

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University of Pittsburgh Medical Center said the deal is expected to be finalized in Fall 2026. The move would expand its presence into Ohio. Details, such as the financial terms, have yet to be revealed. 
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Atrium Health looking to scoop up smaller nonprofit health system in $2B deal

WakeMed, a three-hospital system in the North Carolina capital region of Raleigh, would become part of Advocate Health, Atrium’s parent company, if the deal goes through. Advocate is one of the largest not-for-profit health systems in the U.S. 

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North Carolina State Capitol Raleigh
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Atrium Health looking to scoop up smaller nonprofit health system in $2B deal

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North Carolina State Capitol Raleigh
WakeMed, a three-hospital system in the North Carolina capital region of Raleigh, would become part of Advocate Health, Atrium’s parent company, if the deal goes through. Advocate is one of the largest not-for-profit health systems in the U.S. 
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Medicare Advantage grows into a $10B-plus opportunity for go-getter brokers selling plans for private insurers

These third-party marketers earn commissions from their insurer clients not only upon initial signups but also every time “their” enrollees renew without changing plans.

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sales commission
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Medicare Advantage grows into a $10B-plus opportunity for go-getter brokers selling plans for private insurers

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sales commission
These third-party marketers earn commissions from their insurer clients not only upon initial signups but also every time “their” enrollees renew without changing plans.
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Sutter Health to scoop up Allina Health, form new $26B nonprofit health system

The two not-for-profit health systems announced the merger on Wednesday. Although the deal won’t be finalized for some time, they teased new investments that will bring 39 hospitals and more than 400 primary and specialty care sites under the banner of a new Sutter Health. 

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Sutter Health
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Sutter Health to scoop up Allina Health, form new $26B nonprofit health system

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Sutter Health
The two not-for-profit health systems announced the merger on Wednesday. Although the deal won’t be finalized for some time, they teased new investments that will bring 39 hospitals and more than 400 primary and specialty care sites under the banner of a new Sutter Health. 
READ MORE >

Trump’s SEC eliminates 50-year-old ‘gag rule’ for enforcement settlements

The agency cited free speech as its reasoning for rescinding the long-standing policy. While in place, the rule barred companies that agreed to settlements with the Securities and Exchange Commission from publicly denying allegations made by regulators.

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President Trump
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Trump’s SEC eliminates 50-year-old ‘gag rule’ for enforcement settlements

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President Trump
The agency cited free speech as its reasoning for rescinding the long-standing policy. While in place, the rule barred companies that agreed to settlements with the Securities and Exchange Commission from publicly denying allegations made by regulators.
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Optum Rx outlines changes to PBM business model, promising price transparency

The company made the changes after its manufacturer rebates for insulin were challenged by the Federal Trade Commission. Among other shifts, Optum said 100% of all rebates will be distributed to customers by 2028.

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Optum UnitedHealthcare UnitedHealth Group HQ
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Optum Rx outlines changes to PBM business model, promising price transparency

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Optum UnitedHealthcare UnitedHealth Group HQ
The company made the changes after its manufacturer rebates for insulin were challenged by the Federal Trade Commission. Among other shifts, Optum said 100% of all rebates will be distributed to customers by 2028.
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Investor-bought PCPs carry on like nothing much has changed—with caveats

Private-equity acquisitions of primary-care provider practices neither alter hospitalization rates nor affect acute-care outcomes, according to new research out of Brown University. 

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private equity investors
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Investor-bought PCPs carry on like nothing much has changed—with caveats

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private equity investors
Private-equity acquisitions of primary-care provider practices neither alter hospitalization rates nor affect acute-care outcomes, according to new research out of Brown University. 
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Physicians are quitting sooner, younger and for different priorities than in years past

Physicians who walk away from medicine before reaching their 25th year of practice tend to quit mainly due to the stress and hassles of the job.

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physician burnout
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Physicians are quitting sooner, younger and for different priorities than in years past

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physician burnout
Physicians who walk away from medicine before reaching their 25th year of practice tend to quit mainly due to the stress and hassles of the job.
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