Antitrust Lawsuit Settled By Bed Maker
Hillenbrand Industries, a hospital bed and casket maker, has announced an agreement to pay over $337 million as settlement for an antitrust lawsuit over discounts on special hospital beds.The company was sued back in 2003 by the Spartanburg Regional Healthcare System of Spartanburg, S.C. The company was accused of violating antitrust rules through using discount practices to monopolize the market.
Hillenbrand is the largest manufacturer in the nation of hospital beds and caskets. The company will be making a $50 million payment into an Escrow account initially. The remainder of the settlement will be paid early in the New Year when the settlement is finalized. Although the company has agreed to the settlement, a spokesperson has also stated that the accusations made by the plaintiff were ‘without merit…’
It has also been stated that Hillenbrand will now stop using the discount as part of its package on hospital beds. This was known as bundled pricing and formed part of the complaint made by the other company about the practices used by Hillenbrand.
Topic Added December 16th, 2005
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