Patterson Companies Comments on Initial Recommendation to the FTC
Patterson Companies, Inc. today commented on the non-binding, initial recommendation from the Federal Trade Commission’s (“FTC”) Administrative Law Judge (“ALJ”) regarding the administrative complaint filed on February 12, 2018. The recommendation concerns alleged conduct in 2013 regarding the company’s willingness to negotiate with “buying groups.”
“We strongly disagree with any finding against Patterson and believe the facts demonstrate the company’s independent decision-making in a highly competitive industry. We are evaluating all of our legal options, including appealing to the full Commission to review the facts of the matter.”
The non-binding initial recommendation from the ALJ to the FTC does not include a monetary fine or penalty and does not recommend imposing an outside monitor. The matter will now be referred to the FTC’s Commissioners for their final determination. While it is not possible to predict with certainty the outcome of the FTC process, the Company does not anticipate that this matter will have a material adverse effect on its financial condition or results of operations.
“Patterson takes compliance very seriously and maintains the highest levels of integrity and ethical standards while partnering with all types of customers to support their businesses and provide outstanding care to their patients.”
