Dr. Subramaniam (Subbu) Ramanarayanan



New York City
Tel: +1 212 345 0745
Fax: +1 212 345 4650

Los Angeles
Tel: +1 213 346 3038
Fax: +1 213 346 3030

Email: subbu.ramanarayanan@nera.com
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PhD in managerial economics and strategy, Kellogg School of Management, Northwestern University
MBA, Indian Institute of Management (Calcutta)
B.Tech. in electrical engineering, India Institute of Technology


Dr. Subbu Ramanarayanan is a Director in NERA’s Antitrust and Health Care practices, and adjunct Associate professor of Competitive Strategy at UCLA Anderson School of Management. Dr. Ramanarayanan has extensive experience advising clients on antitrust review of proposed mergers and acquisitions where he has analyzed issues relating to market definition and market power, alleged monopolization, exclusive contracting, price-fixing, alleged foreclosure and for-profit ownership across a variety of settings in health care including hospital services, health insurance, physician services, group purchasing organizations, dialysis services, pharmaceuticals and benefits management.

Dr. Ramanarayanan’s areas of expertise and interest include industrial organization, health economics, applied microeconomics and econometrics. Dr. Ramanarayanan joined NERA after spending six years on the faculty at the UCLA Anderson School of Management. He is an award-winning MBA professor and teaches courses on Business Strategy and modules on Health Care Strategy to MBA students and Executives. He has also taught a course on empirical research methods to graduate students in the Ph.D. program at UCLA Anderson.

Dr. Ramanarayanan is an Editor of the ABA publication, Antitrust Source. He has written extensively on the nature of competition in health care markets and its impact on health care costs and quality. He has published articles in the Antitrust Magazine, the Antitrust Healthcare Chronicle, Antitrust Source as well as leading economics journals, such as the American Economic Review and the Journal of Law and Economics. Notably, his co-authored article titled “Challenges for Economic Analysis of Mergers Between Potential Competitors: Steris and Synergy” was selected as the winner in the Business – Economics category at the Institute of Competition Law’s 2017 Antitrust Writing Awards. Dr. Ramanarayanan has also acted as an academic reviewer to many leading journals in the fields of economics and management.

Dr. Ramanarayanan holds a PhD in managerial economics and strategy from the Kellogg School of Management at Northwestern University, an MBA from the Indian Institute of Management (Calcutta) where he was a Silver medalist, and a B.Tech. in electrical engineering from the Indian Institute of Technology. Prior to starting graduate school at Northwestern, he worked as a management consultant for McKinsey & Co. in India, where he served clients in retail and health care.

Title Type Author
Taking Stock of the Efficiencies Defense: Lessons from Recent Health Care Merger Revi... Published Article Dr. Subramaniam Ramanarayanan
The Increasing Cross-Border Importance of Innovation in Merger Review Published Article By Jennifer Cascone Fauver, Dr. Subramaniam (Subbu) Ramanarayanan, and Dr. Nicola Tosini
Expert Witnesses in Competition Disputes Published Article By Dr. David Blackburn, Nathan Blalock, Dr. Subbu Ramanarayanan, and Dr. Paul Wong
Reduced-Form Versus Structural Econometric Methods in Market Definition: Lessons from... Published Article Dr. Subbu Ramanarayanan and Dr. Paul Wong
Paper Trail: Review of a Recent Working Paper on the Effect of Copay Coupons on Drug ... Published Article Bryan Ray and Dr. Subbu Ramanarayanan
Challenges for Economic Analysis of Mergers Between Potential Competitors: Steris and... Published Article By Jennifer Cascone Fauver and Subramaniam (Subbu) Ramanarayanan
Diversion Analysis as Applied to Hospital Mergers: A Primer Published Article By Dr. Subramaniam (Subbu) Ramanarayanan
A Profile of Professor Martin S. Gaynor (Director, FTC Bureau of Economics) Published Article By Dr. Subramaniam (Subbu) Ramanarayanan