© Reuters. SUBMIT PHOTO: Federal Trade Commission seal is seen at a press conference at FTC head office in Washington, U.S., July 24, 2019. REUTERS/Yuri Gripas/File Photo/File Photo
By GursimranKaur Mehar and Mrinmay Dey
(Reuters) -A U.S. court on Friday maintained a Federal Trade Commission (FTC) order to obstruct IQVIA’s acquisition of DeepIntent, a health care marketing company, as it might damage competitors.
DeepIntent, owned by Propel Media, a digital marketing business, participated in an arrangement with U.S. headquartered health care information and analytics company IQVIA in 2022 with the intent to help with smooth interaction in between clients and doctor.
Previously this year, the FTC stepped in to obstruct IQVIA and DeepIntent’s proposed merger so regarding avoid increased concentration in healthcare programmatic marketing.
The merger would damage competitors and would cause increased costs for customers, and hurt clients, the FTC had actually stated.
DeepIntent’s president formerly in an open letter stated that the business would leave the offer and would stay an independent business had the regulator won the block. The monetary regards to the offer are not understood.
Speaking in favor of the FTC, District Judge Edgar Ramos approved the U.S. antitrust department an initial injunction to obstruct the offer.
In the judgment, Ramos stated, “The FTC has actually revealed that there is an affordable possibility that the proposed acquisition will considerably hinder competitors in the appropriate market which the equities weigh in favor of injunctive relief.”
IQVIA stated in an emailed declaration to Reuters it was dissatisfied by the court’s choice and was evaluating the choice and examining its alternatives.
“We keep that the FTC’s arguments in this case are irregular with the truth of the market and unsupported by the law,” IQVIA stated.
DeepIntent and the FTC did not right away react to a Reuters ask for remark.