Sign up for free TCR email newsletter

Monday, June 24, 2024
Subbu Ramanarayanan
Subramaniam Ramanarayanan
Managing Director


Dr. Subbu Ramanarayanan chairs NERA’s Health Care Antitrust practice and is an Adjunct Associate Professor of Competitive Strategy at UCLA Anderson School of management. Dr. Ramanarayanan has extensive experience advising clients on antitrust reviews of proposed mergers and acquisitions before the Federal (FTC and DOJ) and State antitrust agencies across a variety of settings in health care including hospital services, health insurance, physician services, medical devices, and Healthcare IT services. He is particularly experienced in the analysis of large and complex health care provider transactions, including addressing horizontal, vertical, and cross-market issues raised by antitrust agencies in such matters. Recently, Dr. Ramanarayanan testified on behalf of the merging parties in the FTC’s challenge of the merger between Albert Einstein Health Network and Thomas Jefferson University, which was the first time the FTC lost a hospital merger challenge in nearly two decades. He was also the lead economist retained by counsel for the merging parties in the formation of Beth Israel Lahey Health, a complex multi-billion dollar transaction involving five merging hospital systems that was ultimately cleared by the Federal Trade Commission after an in-depth investigation. Dr. Ramanarayanan also has an active practice focused on litigation around liability and damages issues in health care antitrust and has analyzed issues pertaining to market definition and market power, alleged monopolization, monopsony, exclusive contracting, price-fixing, tying, bundling, and alleged foreclosure in various healthcare markets.

Areas of expertise

Competitive strategy, Advising clients on antitrust reviews of proposed mergers

Group Overview

NERA's Global Health Care Practice covers the full range of litigation, regulatory/reform, public policy, and business strategy questions that arise in this complex industry. NERA’s health economists have analyzed hundreds of mergers involving hospitals, health insurers, physicians, pharmaceuticals, and medical device companies. Many of these mergers have been reviewed by both US and European antitrust authorities. NERA’s litigation experience covers antitrust issues such as monopolization, price fixing, unfair methods of competition, exclusive dealing, and other vertical restraints issues, such as those posed by integrated health care systems. In the area of public policy, NERA’s economists in the US and Europe have worked with governments as well as purchasers and providers of health care around the world to create competitive markets, develop alternative administrative strategies, and enact realistic health care reforms that can improve both the efficiency and the fairness of health systems around the world. NERA’s policy work has been used by organizations such as the European Commission, World Trade Organization, and US Trade Representatives to improve the environment for pharmaceutical research and development.

Firm Overview

NERA Economic Consulting is a global firm of experts dedicated to applying economic, finance, and quantitative principles to complex business and legal challenges. For more than six decades, NERA has been creating strategies, studies, reports, expert testimony, and policy recommendations for government authorities and the world’s leading law firms and corporations. NERA brings academic rigor, objectivity, and real-world industry experience to issues arising from competition, regulation, public policy, strategy, finance, and litigation. “At NERA’s core is an exceptional team of many of the world’s leading experts in numerous industries and key disciplines, all sharing a passion for economics and a commitment to integrity and independence.” -Dr. Lawrence Wu - NERA’s President NERA’s clients value their ability to apply and communicate state-of-the-art approaches clearly and convincingly, their commitment to deliver unbiased findings, and their reputation for quality and independence. NERA’s clients rely on the integrity and skills of their unparalleled team of economists and other experts backed by the resources and reliability of one of the world’s largest economic consultancies. Continuing their legacy as the first international economic consultancy, NERA serves clients from major cities across North America, Europe, and Asia Pacific.