Competition Economics was retained to assist Community Health Systems, Inc. (“CHS”) in its proposed $7.6 billion acquisition of Health Management Associates Inc. (“HMA”) to create the nation's largest for-profit hospital network.  Professors Luke Froeb and Larry Van Horn of Vanderbilt University, together with professional staff at Competition Economics led by Michael Doane, assisted counsel from Kirkland & Ellis in an assessment of the competitive effects of the proposed transaction. The FTC approved the merger subject to a requirement that CHS divest two acute-care facilities and related outpatient businesses owned by HMA subsidiaries.  Through its affiliates, CHS now owns, leases, or operates 206 hospitals in 29 states.  The acquisition of HMA added approximately 70 hospitals to CHS’s pre-merger portfolio.