A PYMNTS Company

Matrix Medical Wins Antitrust Appeal Over $160M Merger

 |  January 5, 2022

Matrix Medical Network and its private equity backers secured their exit from antitrust litigation over their acquisition of a rival health insurance risk adjuster when a federal appeals court in Atlanta upheld a ruling throwing out the case, reported Bloomberg.

The US Court of Appeals for the Eleventh Circuit affirmed a decision by Judge Paul G. Byron, who ruled last year that the lawsuit—which accused Matrix of deliberately running startup HealthFair into the ground after acquiring it—didn’t present any antitrust issues.

The suit, filed in December 2020, also targeted Matrix’s corporate parents: affiliates of Frazier Healthcare Partners and ModivCare Inc.

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.