{"id":484,"date":"2026-08-03T16:32:48","date_gmt":"2026-08-03T16:32:48","guid":{"rendered":"https:\/\/thirstier.news\/?p=484"},"modified":"2026-08-03T16:32:48","modified_gmt":"2026-08-03T16:32:48","slug":"ftc-secures-12-million-in-penalties-for-pre-merger-reporting-act-violations","status":"publish","type":"post","link":"https:\/\/thirstier.news\/?p=484","title":{"rendered":"FTC Secures $12 Million in Penalties for Pre-Merger Reporting Act Violations"},"content":{"rendered":"<p>  <a id=\"main-content\"><\/a><\/p>\n<div id=\"content\">\n<div class=\"primary-layout-columns\">\n<div class=\"usa-layout-docs__main\">\n<div class=\"region region-content\">\n<div id=\"block-block-content-b5025772-a547-4f8f-a251-ec580178b320\" class=\"block block-block-content block-block-contentb5025772-a547-4f8f-a251-ec580178b320 block--block-content--basic\">\n<div class=\"block-content block-content--type-basic block-content--983 block-content--view-mode-full\">\n<div class=\"block-content__content\">\n<div class=\"field field--name-field-body field--type-text-long field--label-hidden\">\n<div class=\"field__items\">\n<div class=\"field__item\"><\/div>\n<\/p><\/div>\n<\/div><\/div>\n<\/div><\/div>\n<div id=\"block-system-main-block--3\" class=\"block block-system block-system-main-block\">\n<div class=\"block-content-container\">\n<article class=\"node node--type-press-release node--view-mode-full node--334414\">\n<div class=\"node__content\">\n<div class=\"field field--name-field-tags-view field--type-viewfield field--label-hidden\">\n<div class=\"field__item field__item-label-hidden\">\n<div class=\"view view-tags__block view-tags view-id-tags view-display-id-block js-view-dom-id-ccd052e856c54cc09924c30089650d380852b411db6a4a213048850f4ccb687d view--block\">\n<div class=\"view__content\">\n<div class=\"view-content\">\n<div class=\"item-list\">\n<ul>\n<li><span class=\"views-field views-field-name\"><span class=\"field-content\"><a href=\"https:\/\/www.ftc.gov\/competition\">Competition<\/a><\/span><\/span><\/li>\n<li><span class=\"views-field views-field-name\"><span class=\"field-content\"><a href=\"https:\/\/www.ftc.gov\/bureau-competition\">Bureau of Competition<\/a><\/span><\/span><\/li>\n<li><span class=\"views-field views-field-name\"><span class=\"field-content\"><a href=\"https:\/\/www.ftc.gov\/merger\">Merger<\/a><\/span><\/span><\/li>\n<li><span class=\"views-field views-field-name\"><span class=\"field-content\"><a href=\"https:\/\/www.ftc.gov\/terms\/hart-scott-rodino-act-hsr\">Hart-Scott-Rodino Act (HSR)<\/a><\/span><\/span><\/li>\n<li><span class=\"views-field views-field-name\"><span class=\"field-content\"><a href=\"https:\/\/www.ftc.gov\/industry\/health-care\">Health Care<\/a><\/span><\/span><\/li>\n<li><span class=\"views-field views-field-name\"><span class=\"field-content\"><a href=\"https:\/\/www.ftc.gov\/industry\/health-care\/medical-equipment-devices\">Medical Equipment and Devices<\/a><\/span><\/span><\/li>\n<\/ul>\n<\/div><\/div>\n<\/p><\/div>\n<\/div><\/div>\n<\/p><\/div>\n<div class=\"field field--name-body field--type-text-with-summary field--label-hidden\">\n<div class=\"field__items\">\n<div class=\"field__item\">\n<p>The Federal Trade Commission secured $12 million in penalties to settle charges alleging that Edwards Lifesciences Corp. acquired medical device maker JC Medical from Genesis MedTech Group Limited without complying with the notification and waiting period requirements of the Hart-Scott-Rodino Act (HSR).<\/p>\n<p>Under the terms of a <a href=\"https:\/\/www.ftc.gov\/system\/files\/ftc_gov\/pdf\/EdwardsGenesis-ProposedFinalJudgment.pdf\">proposed final judgment<\/a>, Edwards, including former Genesis subsidiary JC Medical, will pay a $10 million penalty. Genesis will pay a $2 million penalty. Edwards will also be subject to additional terms including prior notice requirements. The combined $12 million penalty is the largest ever for failing to make an HSR filing.<\/p>\n<p>\u201cCompanies that try to sneak deals through without lawful FTC review should take notice,\u201d said Chairman Andrew N. Ferguson. \u201cThe FTC will be vigilant in enforcing the requirements of the Hart-Scott-Rodino Act and we will not hesitate to\u00a0seek penalties for its violation.\u201d<\/p>\n<p>Today\u2019s settlement resolves allegations that Edwards and Genesis sought to avoid federal antitrust review of Edwards\u2019 acquisition of JC Medical, which was in trials to bring to market transcatheter aortic valve replacement devices that treat a heart condition called aortic regurgitation (TAVR-AR devices).<\/p>\n<p>According to <a href=\"https:\/\/www.ftc.gov\/system\/files\/ftc_gov\/pdf\/EdwardsGenesis-Complaint.pdf\">the complaint<\/a>, Edwards and Genesis intentionally structured their deal to avoid complying with the HSR Act, which requires parties to submit an HSR form to the federal antitrust agencies and observe a waiting period before completing a transaction. The waiting period provides the antitrust agencies with time to evaluate the transaction for potential competitive harm.<\/p>\n<p>In July 2024, Edwards acquired JC Medical without filing under HSR and then, just one day later, attempted to acquire JC Medical\u2019s only competitor, JenaValve Technology Inc. Had the transaction succeeded, Edwards would have owned the only two companies in the United States with TAVR-AR devices in clinical trials.<\/p>\n<p>The FTC sued to block Edwards\u2019 acquisition of JenaValve alleging that the deal was anticompetitive and, in January 2026, the U.S. District Court for the District of Columbia\u00a0<a href=\"https:\/\/www.ftc.gov\/news-events\/news\/press-releases\/2026\/01\/statement-ftc-victory-halting-anticompetitive-medical-device-deal\">granted<\/a> the FTC\u2019s request for a preliminary injunction after a six-day hearing.<\/p>\n<h2>HSR Avoidance Tactics<\/h2>\n<p>According to the complaint, Edwards was concerned that HSR review would significantly delay closing on the acquisition of JC Medical, especially in light of its concurrent negotiations to acquire JenaValve.<\/p>\n<p>To avoid HSR review, Edwards and Genesis agreed that Edwards would pay $115 million, plus milestone payments, for JC Medical, which fell just below the minimum size-of-transaction threshold of $119.5 million required at the time to trigger HSR review. Edwards, however, also agreed to a contemporaneous $25 million investment in Genesis in connection with the JC Medical acquisition, according to the complaint.<\/p>\n<p>In substance, the transactions between Edwards and Genesis met the thresholds for mandatory reporting under HSR, as the combination amounted to more than $119.5 million, the complaint further alleges.<\/p>\n<p>On top of the monetary penalties, the proposed final judgment also specifies, among other terms, that Edwards will not, without providing advance written notification to the FTC, acquire, directly or indirectly, through subsidiaries or otherwise, any ownership interest, in whole or in part, in any \ufb01rm that:<\/p>\n<ul>\n<li>Commercially sells a TAVR-AR device in the United States;<\/li>\n<li>Is engaged in clinical trials in the United States for a TAVR-AR device; or<\/li>\n<li>Has received an Investigational Device Exemption from the U.S. Food and Drug Administration to conduct clinical trials on a TAVR-AR\u00a0device in the United States.<\/li>\n<\/ul>\n<p>Edwards also will be required to design, maintain and operate an antitrust compliance program to ensure compliance with the final judgment and the antitrust laws.<\/p>\n<p>The Commission vote to accept the settlement and refer the matter to the Department of Justice for filing was 2-0. The Department of Justice filed the complaint and proposed final judgment on the FTC\u2019s behalf in the U.S. District Court for the District of Columbia.<\/p>\n<p>Stipulated final orders have the force of law when approved and signed by the District Court judge. The entry of the final judgment does not constitute an admission or finding of wrongdoing or liability by any defendant and defendants deny any wrongdoing or violation of law.<\/p>\n<\/div><\/div>\n<\/div>\n<div class=\"field field--name-field-boilerplate-block field--type-entity-reference field--label-hidden field--count-1\">\n<div class=\"field__items\">\n<div class=\"block-content block-content--type-boilerplate block-content--5 block-content--view-mode-default\">\n<div class=\"block-content__content\">\n<div class=\"field field--name-body field--type-text-with-summary field--label-hidden\">\n<div class=\"field__items\">\n<div class=\"field__item\">\n<p>The Federal Trade Commission works to\u00a0<a href=\"https:\/\/www.ftc.gov\/about-ftc\/bureaus-offices\/bureau-competition\">promote competition<\/a> and to protect and educate consumers.\u00a0The FTC will never demand money, make threats, tell you to transfer money, or promise you a prize. You can learn more about\u00a0<a href=\"https:\/\/www.ftc.gov\/system\/files\/attachments\/competition-counts\/pdf-0116_competition-counts.pdf\">how competition benefits consumers<\/a>,\u00a0<a href=\"https:\/\/www.ftc.gov\/faq\/competition\/report-antitrust-violation\">file an antitrust complaint<\/a>, or <a href=\"https:\/\/www.ftc.gov\/enforcement\/merger-review\/comment-on-a-proposed-merger\">comment on a proposed merger<\/a>.\u00a0For the latest news and resources,\u00a0<a href=\"https:\/\/www.ftc.gov\/news-events\/social-media\">follow the FTC on social media<\/a>,\u00a0<a href=\"https:\/\/www.ftc.gov\/news-events\/stay-connected\">subscribe to press releases<\/a>\u00a0and\u00a0<a href=\"https:\/\/www.ftc.gov\/news-events\/blogs\/competition-matters\">read our blog<\/a>.<\/p>\n<\/div><\/div>\n<\/div><\/div>\n<\/div><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/article><\/div>\n<\/p><\/div>\n<div class=\"views-element-container block block-views block-views-blockftc-press-release-block-8\" id=\"block-views-block-ftc-press-release-block-8--3\">\n<div class=\"block-content-container\">\n<div class=\"view view-ftc-press-release__block_8 view-ftc-press-release view-id-ftc_press_release view-display-id-block_8 js-view-dom-id-79f35a0a6748ce2799a2ec4acf0dafbb434e3a1ad560529cdc76e197fa6b8e66 view--block\">\n<div class=\"view__content\">\n<div class=\"view-content\">\n<div class=\"views-row\"><a href=\"https:\/\/www.ftc.gov\/news-events\/news\/press-releases\/2026\/01\/statement-ftc-victory-halting-anticompetitive-medical-device-deal\">Statement on FTC Victory Halting Anticompetitive Medical Device Deal<\/a><\/div>\n<div class=\"views-row\"><a href=\"https:\/\/www.ftc.gov\/news-events\/news\/press-releases\/2025\/08\/ftc-challenges-anticompetitive-medical-device-deal\">FTC Challenges Anticompetitive Medical Device Deal<\/a><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div><\/div>\n<\/p><\/div>\n<div class=\"views-element-container block block-views block-views-blockftc-press-release-block-7\" id=\"block-views-block-ftc-press-release-block-7--3\">\n<div class=\"block-content-container\">\n<div class=\"view view-ftc-press-release__block_7 view-ftc-press-release view-id-ftc_press_release view-display-id-block_7 js-view-dom-id-6f93f67fca91f43344bf55d518d31a3e7077a3202010eb6cf97aa69f7d3d990c view--block\">\n<div class=\"view__content\">\n<div class=\"view-content\">\n<div class=\"views-row\">\n<h3 class=\"views-label views-label-field-media-contacts\">Media Contact<\/h3>\n<div class=\"paragraph paragraph--type--media-contact paragraph--view-mode--default\">\n<div class=\"paragraph__content\">\n<div class=\"field field--name-field-media-contact-single field--type-entity-reference field--label-hidden field--count-1\">\n<div class=\"field__items\">\n<article class=\"node node--type-biography node--view-mode-contact-information node--80977\">\n<div class=\"node__content\">\n<div><a href=\"https:\/\/www.ftc.gov\/news-events\/news\/press-releases\/2026\/07\/mailto:vgraham@ftc.gov\"><br \/>\n<span>Victoria Caslow<\/span><br \/>\n<\/a><\/div>\n<div class=\"field field--name-field-division field--type-string field--label-hidden\">\n<div class=\"field__items\">\n<div class=\"field__item\">Office of Public Affairs<\/div>\n<\/p><\/div>\n<\/div>\n<div class=\"field field--name-field-phone field--type-telephone field--label-hidden\">\n<div class=\"field__items\">\n<div class=\"field__item\">415-848-5121<\/div>\n<\/p><\/div>\n<\/div><\/div>\n<\/article><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div><\/div>\n<\/p><\/div>\n<\/div><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<hr>\n<p class=\"tni-attribution\">Source: <a href=\"https:\/\/www.ftc.gov\/news-events\/news\/press-releases\/2026\/07\/ftc-secures-12-million-penalties-pre-merger-reporting-act-violations\" rel=\"nofollow noopener\">Press Release Feed<\/a><\/p>\n<p>Source: <a href=\"https:\/\/www.ftc.gov\/news-events\/news\/press-releases\/2026\/07\/ftc-secures-12-million-penalties-pre-merger-reporting-act-violations\">Press Release Feed<\/a>. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>FTC alleges Edwards Lifesciences and Genesis structured JC Medical deal to avoid federal antitrust review The Federal Trade Commission secured $12 million in penalties to settle charges alleging that Edwards Lifesciences Corp. acquired medical device maker JC Medical from Genesis MedTech Group Limited without complying with the notification and waiting period requirements of the Hart-Scott-Rodino&hellip;<\/p>\n","protected":false},"author":1,"featured_media":259,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53],"tags":[],"class_list":["post-484","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-u-s-civil-service-independent-agencies-federal-trade-commission"],"_links":{"self":[{"href":"https:\/\/thirstier.news\/index.php?rest_route=\/wp\/v2\/posts\/484","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thirstier.news\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thirstier.news\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thirstier.news\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thirstier.news\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=484"}],"version-history":[{"count":1,"href":"https:\/\/thirstier.news\/index.php?rest_route=\/wp\/v2\/posts\/484\/revisions"}],"predecessor-version":[{"id":691,"href":"https:\/\/thirstier.news\/index.php?rest_route=\/wp\/v2\/posts\/484\/revisions\/691"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/thirstier.news\/index.php?rest_route=\/wp\/v2\/media\/259"}],"wp:attachment":[{"href":"https:\/\/thirstier.news\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=484"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thirstier.news\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=484"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thirstier.news\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=484"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}