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FTC Settles Antitrust Case, Ends USAP Private-Equity Rollup

4/24/2026

Summary

Story summary

The Federal Trade Commission (FTC) settled its antitrust case against U.S. Anesthesia Partners (USAP), keeping terms confidential and saying the deal will restore competition.
The settlement reflects the FTC’s new focus on curbing private-equity consolidation, a priority under President Donald Trump.
Welsh, Carson, Anderson & Stowe, the firm that created USAP, settled its FTC lawsuit, ending a rollup of a dozen anesthesiology practices with about 1,000 doctors and 750 nurses.

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Story summary

The Federal Trade Commission (FTC) settled its antitrust case against U.S. Anesthesia Partners (USAP), keeping terms confidential and saying the deal will restore competition.
The settlement reflects the FTC’s new focus on curbing private-equity consolidation, a priority under President Donald Trump.
Welsh, Carson, Anderson & Stowe, the firm that created USAP, settled its FTC lawsuit, ending a rollup of a dozen anesthesiology practices with about 1,000 doctors and 750 nurses.