Recent merger settlements further confirm that merger remedies are back and indicate the healthcare industry remains a priority for antitrust enforcers.
In July, we published an alert regarding the resolutions of two merger investigations initiated by the Federal Trade Commission (FTC) and the Department of Justice Antitrust Division (DOJ).[1] We observed a key shift in enforcement policies under the new Trump administration based on the FTC’s settlement of the Synopsys/Ansys merger and the DOJ’s settlement of the Keysight/Spirent merger. These settlements effectively marked the revival of merger remedies; an enforcement tool that was strongly disfavored during the prior administration and, until recently, was generally considered off-the-negotiating-table.[2] The DOJ has since settled via divestiture the Hewlett Packard/Juniper merger.[3]
On August 7, the DOJ announced that it again had approved of a settlement to resolve a merger challenge—this time to the UnitedHealth/Amedisys merger, again, by way of divestiture.[4] The key details of the deal include “requiring broad divestitures” of “164 home health and hospice locations across 19 states, accounting for approximately $528 million in annual revenue.” It also requires payment of $1.1 million in civil penalties plus antitrust compliance training for UnitedHealth Group, Inc. executives.[5] The UnitedHealth merger is a reminder that enforcers continue to focus on healthcare competition issues.
Importantly, the resurgence of merger remedies and their recent usage by the DOJ indicates that the enforcement philosophy developing under the new Trump administration is distinguishable from the aggressive policies promulgated by the prior administration. Enforcement agencies have made it clear that they are open and willing to negotiate, which means parties will have a meaningful opportunity to improve closing timelines and likelihood of deal success during merger discussions. Still, prudent parties and stakeholders will continue to prepare for potential remedies in advance of engaging with regulators. As we indicated in our earlier alert, the recent settlements do not constitute a return to pre-Biden administration acceptance of most remedies and, importantly, companies can expect that mergers will continue to be met with scrutiny.[6]
Wiggin and Dana routinely advises clients in connection with the full range of antitrust, consumer protection, and unfair trade practices matters, including potential transactions, mergers and merger investigations, and representations before the FTC, DOJ, and offices of state attorneys general. Wiggin and Dana also regularly advises clients concerning evolving antitrust, consumer protection, unfair trade practices, and regulatory landscapes.
[1] See Chloe Booth, Benjamin H. Diessel & Robert M. Langer, Merger Remedies are Back in Play under Trump 2.0, Wiggin and Dana (July 7, 2025), https://www.wiggin.com/publication/merger-remedies-are-back-in-play-under-trump-2-0/.
[2] See generally id. (FTC’s approach under the Biden administration “focus[ed] resources on litigating, rather than on settling” and held the view that “remedies, such as divestitures, should be the exception, not the rule”); Jonathan Kanter, Assistant Att’y Gen., Antitrust Div., U.S. Dep’t of Justice, Remarks at the N.Y. State Bar Ass’n Antitrust Law Section Annual Meeting para. 3 (Jan. 24, 2022), https://www.justice.gov/archives/opa/speech/assistant-attorney-general-jonathan-kanter-antitrust-division-delivers-remarks-new-york (expressing aversion to remedies).
[3] Press Release, U.S. Dep’t of Justice, Justice Department Requires Divestitures and Licensing Commitments in HPE’s Acquisition of Juniper Networks (June 28, 2025), https://www.justice.gov/opa/pr/justice-department-requires-divestitures-and-licensing-commitments-hpes-acquisition-juniper. See also Barbara Sicalides et al., DOJ Declares Enterprise Wireless Merger Settlement a Victory, A.B.A. (Aug. 4, 2025), https://www.americanbar.org/groups/business_law/resources/business-law-today/2025-august/doj-enterprise-wireless-merger-victory/?login (“novel” settlement with DOJ allows $14 billion merger to proceed).
[4] Press Release, U.S. Dep’t of Justice, Justice Department Requires Broad Divestitures to Resolve Challenge to UnitedHealth’s Acquisition of Amedisys (Aug. 7, 2025), https://www.justice.gov/opa/pr/justice-department-requires-broad-divestitures-resolve-challenge-unitedhealths-acquisition.
[5] See id.
[6] See Booth, Diessel & Langer, supra note 1.