An organization founded by a former Enron Corp. energy trader and his wife is financially supporting an antitrust lawsuit against Hartford HealthCare, the Wall Street Journal reported June 11.
Arnold Ventures LLC is controlled by billionaire John Arnold, who made his fortune before Enron’s 2001 collapse and walked away with a seven-figure bonus, according to the Wall Street Journal.
The lawsuits allege the hospital systems charged unreasonably high prices and used their market power to restrict competition.
The suit targeting Hartford HealthCare was filed in Hartford Superior Court in February on behalf of six Connecticut residents. The plaintiffs allege that Hartford Hospital charges higher prices for care than any other hospital in Greater Hartford. An inpatient stay costs about $4,000 more at Hartford Hospital than it does at a competitor’s hospital 2 miles away, according to the suit.
Arnold’s other lawsuits are against health systems in Wisconsin and North Carolina.
The plaintiffs are represented by attorneys from New York City-based firms Perry Guha LLP and Fairmark Partners LLP.
Hartford HealthCare said it would fight the allegations, which it called “without merit,” according to the Wall Street Journal.
The complaint mirrors a similar lawsuit that St. Francis Hospital and Medical Center filed against Hartford HealthCare a month earlier. Hartford HealthCare asked a judge to dismiss the suit, claiming the competing hospital lacked antitrust standing and had the financial capabilities to compete harder for physicians.
Read the lawsuit against Hartford HealthCare here: