“Private equity firm Welsh Carson spearheaded a roll-up strategy and created USAP to buy out nearly every large anesthesiology practice in Texas,” said FTC Chair Lina Khan in a statement. “These tactics enabled USAP and Welsh Carson to raise prices for anesthesia services — raking in tens of millions of extra dollars for these executives at the expense of Texas patients and businesses.”
UnitedHealth Group Inc., the US’s largest insurer, complained about the increased prices, the agency said.“You’ve basically taken the highest rate of all in one distinct market and then peanut butter spread that across the entire state of Texas,” a UnitedHealth executive wrote. Welsh Carson has $31 billion in assets, according to data compiled by Bloomberg, and primarily invests in health care and technology.Khan has said her agency is “looking closely at the role of private equity,” noting research that shows its investments in nursing homes have led to higher death rates.
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