Transactions and other investments in the health care industry by private equity firms are a hot enforcement topic at both the U.S. Federal Trade Commission (“FTC”) and the Antitrust Division of the U.S. Department of Justice (“DOJ”). The terms of a recent FTC proposed merger consent order in the veterinary services industry reflect the concern of the agency’s leadership that serial acquisitions by private equity firms enable those firms to accumulate market power and reduce incentives to...By: Hogan Lovells.