Cory Capps, PhD

Cory Capps has more than 10 years of experience as an economist specializing in industrial organization, empirical methods, and antitrust, with a focus on the healthcare industry. He has advised both private firms and government agencies on issues relating to hospital market power and competition, and he has experience analyzing joint ventures, group purchasing organizations, price-fixing and market allocation, and vertical foreclosure. Recently, Dr. Capps served as an outside expert in a Department of Justice investigation of a proposed merger in the healthcare sector. In addition to his broad healthcare experience, he has conducted economic analysis for investigations and cases involving a variety of industries and has provided economic consulting services to corporations on business and strategy issues.

Prior to joining Bates White, Dr. Capps was a Staff Economist at the Antitrust Division of the Department of Justice where he concentrated on the analysis of competition in healthcare markets including merger and civil nonmerger investigations of hospitals, physicians, nurses, insurers, home health agencies, and ambulatory surgery centers. Dr. Capps’ academic career includes professorships at the University of Illinois at Urbana-Champaign and at Northwestern University’s Kellogg School of Management.

Selected Experience

• Provided economic consulting support to Delta Air Lines and Northwest Airlines in connection with their proposed merger under investigation by the Department of Justice. Identified antitrust risks, analyzed price effects, and developed a retrospective merger analysis for the airline industry. Additional responsibilities included assisting counsel with certifying compliance for the second request.

• Member of the Economic Reference Group, Cooperation & Competition Panel, National Health Service, United Kingdom. Providing industry expertise and competition policy advice to the agency charged with overseeing the application of antitrust and consumer protection laws to the healthcare sector in the United Kingdom.

• Performed market definition and competitive effects analyses on behalf of the Department of Justice in a merger investigation in the healthcare sector. Analysis of competitive effects included an econometric study to predict the likely shares incoming entrants would obtain in the market. Subsequent events have borne out this prediction.

• On behalf of the Thomson Corporation, performed analysis of bidding data and provided assistance to attorneys responding to agency requests in both the United States and Europe in connection with the transatlantic merger of the Thomson Corporation and Reuters.

• Worked with testifying expert to conduct economic analysis on behalf of an ambulatory surgery center in a monopolization lawsuit alleging illegal bundling and tying. Analyzed the impact of exclusive contract arrangements between the defendant hospital system and one of its largest health plan beneficiaries.

• In connection with the Department of Justice’s investigation of a significant agricultural biotechnology merger that raised both horizontal and vertical concerns, analyzed data and case documents to define antitrust markets and determine competitive impact. Supported lead economist in presenting research and data analysis to the Department of Justice.

• Provided a client in the hospital industry with antitrust and industry expertise to assist it and the Department of Justice in investigating alleged anticompetitive conduct by competing firms. Investigations involved complex issues of horizontal and vertical market foreclosure.