FTC Probes Market Power of One of Country’s Biggest Anesthesia Providers

Federal antitrust enforcer is investigating U.S. Anesthesia Partners, a private-equity-owned company that has built a large presence in Texas, Colorado and Florida

The Federal Trade Commission’s investigation is an example of stricter government scrutiny of private equity’s involvement in the healthcare industry.WASHINGTON—The Federal Trade Commission is investigating one of the country’s largest anesthesiology providers, U.S. Anesthesia Partners, over whether it has amassed too much power in some regional markets through acquisitions, according to people familiar with the matter.

USAP has 4,500 anesthesia providers in nine states, including Texas, Colorado and Florida. The company, founded in 2012 by private-equity firm Welsh, Carson, Anderson & Stowe, smaller anesthesiology groups and rolling them up into a consolidated entity that manages hospital contracts, billing, insurance agreements and other functions.

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