This episode of EconWorks looks at one of the most important recent tests of serial acquisition enforcement: the FTC's lawsuit against U.S. Anesthesia Partners. The conversation looks at:

* Rollups in healthcare

* Definition of the market,

* Leverage in negotiations,

* Consolidation economics,

* and the challenge of reestablishing competitiveness once markets have already changed due to past acquisitions.

Significant legal and economic issues remain unsolved because the parties settled the case before the trial.

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