| FOR IMMEDIATE RELEASE
TUESDAY, JULY 20, 2004
TDD (202) 514-1888
DEPARTMENT OF JUSTICE ANTITRUST DIVISION ISSUES STATEMENT ON THE CLOSING OF ITS INVESTIGATION OF UNITEDHEALTH GROUP'S ACQUISITION OF OXFORD HEALTH PLANS
Investigation Focused on Whether Merger of Two Insurance Plans Would Create Market or Monopsony Power
WASHINGTON, D.C. - The Department of Justice's Antitrust Division issued the following statement today after the Department announced the closing of its investigation into UnitedHealth Group Inc.'s proposed acquisition of Oxford Health Plans Inc.:
"The facts did not support a conclusion that this merger will give a combined United/Oxford market power or monopsony power in the markets in which they compete. The two companies are not particularly close competitors, and consumers will have a number of other choices after the merger. The two companies also do not account for a large percentage of physician or hospital reimbursements in the markets in which they compete. Although this particular transaction should not threaten to harm competition or consumers, we will continue to be vigilant in our enforcement of the antitrust laws in this area."
(For background information see Office of Public Affiars Press Release 04-498)