Deals & Corporate Governance

  • March 05, 2024

    Rite Aid Process To Break Leases, Close Stores In Ch. 11 OK'd

    A New Jersey bankruptcy judge on Tuesday signed off on procedures for bankrupt retail pharmacy chain Rite Aid Corp. to potentially shutter 210 rented stores with fast-approaching lease rejection deadlines, overruling objections from two landlords.

  • March 05, 2024

    EQT Lands $3.3B For Climate And Health Investments

    Swedish private equity giant EQT, advised by Kirkland & Ellis LLP, on Tuesday announced that it clinched its EQT Future Fund after securing €3 billion ($3.3 billion) in commitments, which will be used to invest across the climate and nature and health and well-being sectors.

  • March 04, 2024

    Novant Rival Fights Bid To Access Confidential FTC Docs

    Novant Health can't unshield information given to regulators challenging its $320 million merger with two hospitals in North Carolina, a competitor hospital has told a federal court, saying it turned over those sensitive documents believing they would always be kept under wraps.

  • March 04, 2024

    Hospital Operator Pushes For Ch. 11 Plan Confirmation

    California-based hospital operator Alecto Healthcare Services LLC defended its Chapter 11 plan proposal Monday in Delaware bankruptcy court, saying opposition from creditors is based on a faulty belief that there are valuable claims that can be asserted for the benefit of creditors.

  • March 04, 2024

    Bayer Pays $310M For European Rights To Heart Drug

    German pharmaceutical giant Bayer and public biopharmaceutical company BridgeBio announced Monday that they would form a $310 million partnership centered on the experimental heart drug acoramidis.

  • March 04, 2024

    Sorrento Creditors Fight To Keep Ch. 11 In Texas

    Creditors for drug developer Sorrento Therapeutics Inc. have asked a Texas bankruptcy judge to keep the company's Chapter 11 case in the Lone Star State, saying the U.S. trustee's bid to move it comes too late and wouldn't help those hoping for recoveries.

  • March 04, 2024

    REIT Adds Board Posts To End Contest With Activist Investor

    Healthcare real estate investment trust Ventas Inc. has agreed to add two new board members in a one-year deal to end a campaign for changes at the firm from an activist investor hedge fund that has accused the REIT of lagging behind its industry peers.

  • March 01, 2024

    NY Judge Tosses $6.4B BMS Investor Action For Good

    Celgene Corp. investors could not convince a New York federal judge that Bristol-Myers Squibb Co. was intentionally trying to flout securities law by delaying the U.S. Food and Drug Administration's approval of a cancer treatment in order to avoid giving them a $6.4 billion payout. 

  • March 01, 2024

    Plaintiffs Blast Prison Health Co.'s 'Potemkin Village' Case

    An attorney for plaintiffs seeking the dismissal of prison health care company Tehum Care Services Inc.'s "Texas Two-Step" bankruptcy case assailed on Friday what he called the "Potemkin village" nature of the debtor during the first day of a trial unfolding in Texas bankruptcy court.

  • March 01, 2024

    FTC Attacks Constitutional Defenses In Hospital Merger Fight

    The Federal Trade Commission has urged a federal court to trim Novant Health's defenses in the agency's challenge of a $320 million plan to buy two North Carolina hospitals, citing case law holding that constitutional arguments are immaterial to the court's consideration of an antitrust injunction bid.

  • March 01, 2024

    Avista Capital Partners Closes $1.5B Healthcare Fund

    Private equity firm Avista Capital Partners announced Friday that it had closed a $1.5 billion fund advised by Kirkland & Ellis focused on investments in the healthcare industry.

  • February 29, 2024

    Tenet To Sell 2 Calif. Hospitals To Adventist For $550M

    Tenet Healthcare Corp. is selling two of its hospitals on the central California coast to health system Adventist Health for around $550 million, the two announced Thursday.

  • February 29, 2024

    BlossomHill Therapeutics Closes $100M Series B

    Biotechnology company BlossomHill Therapeutics has raised a $100 million Series B financing round to advance its pipeline of cancer and autoimmune treatments, the company announced Thursday.

  • February 29, 2024

    Sandoz To Pay $265M To Resolve Claims In Price-Fixing MDL

    Swiss generic drug and biosimilar manufacturer Sandoz announced Thursday that two of its subsidiaries have reached a $265 million settlement with the direct purchasers of generic medications to resolve allegations of federal antitrust violations.

  • February 29, 2024

    Epstein Becker Guides Conn. Hospital, NY Nonprofit Merger

    Epstein Becker Green is steering Connecticut hospital owner Nuvance Health in its planned merger with Northwell Health, New York's largest healthcare provider, a union that will create a two-state system operating under the latter nonprofit's banner.

  • February 28, 2024

    Cravath Steers Viatris' $350M Collab With Swiss Co.

    Healthcare company Viatris and Swiss pharmaceutical research company Idorsia are teaming up to develop two late-stage drugs, the companies announced Wednesday.

  • February 28, 2024

    Fish & Richardson Adds Ex-Jenner & Block Life Sciences Duo

    Global intellectual property law firm Fish & Richardson PC announced on Wednesday that two Chicago-based litigators from Jenner & Block LLP have joined the firm's life sciences team as partners.

  • February 28, 2024

    AdaptHealth, Ex-CEO Cut $51M Deal To End Investor Fight

    AdaptHealth and its former CEO have agreed to pay $51 million to resolve a shareholder suit alleging the medical equipment company misled investors by retroactively inflating growth numbers ahead of a merger with special acquisition firm DFB Healthcare Acquisitions Corp., according to court documents filed in Pennsylvania federal court Tuesday.

  • February 28, 2024

    Novant In-House Attys Want Access To Confidential FTC Info

    Novant Health has asked to tweak a protective order in the Federal Trade Commission's merger challenge regarding its $320 million plan to buy two hospitals in North Carolina, saying the current order designates nearly the entire investigative file confidential and is "unworkable."

  • February 28, 2024

    Gov't Contracts Of The Month: AI, $1.2B Submarine Upkeep

    In February, the U.S. Patent and Trademark Office announced a deal to expand its artificial intelligence capabilities, the U.S. Navy gave a shipbuilder $1.2 billion to begin its overdue overhaul of the USS Boise, and the U.S. Defense Health Agency expanded its contractor pool for a $2.5 billion information technology deal, after being accused of unfairly evaluating bidders' proposals. These are Law360's top government contracts for February.

  • February 27, 2024

    NY Hospital Says PE-Owned Anesthesia Co. Monopolizes Care

    A hospital based in New York state says a private equity company that manages anesthesia services is exercising monopoly power and putting the hospital at risk of facing a "crippling shortage" of anesthesia providers, according to a suit filed in federal court. 

  • February 27, 2024

    Judge Trims Medical Device Royalty Fight

    A Minnesota federal judge has held that Security Bank & Trust Co. failed to prove jurisdiction against various entities related to an Indiana-based medical device manufacturer in a suit over royalty contracts.

  • February 27, 2024

    Veradigm To Acquire ScienceIO, Face Potential Nasdaq Delisting

    Healthcare technology company Veradigm announced Tuesday that it would acquire language model startup ScienceIO in a $140 million deal that would help it extract more insights from its data and launch new features across its business.

  • February 27, 2024

    DC Circ. Rejects Hospital's NLRB 'Successor Bar' Challenge

    The D.C. Circuit on Tuesday upheld a National Labor Relations Board decision finding a Puerto Rico hospital unlawfully withdrew recognition from a union after inheriting five bargaining units, rejecting the company's challenge to a board standard blocking employers from withdrawing recognition after acquiring a unionized company's operations.

  • February 27, 2024

    Anesthesia Group Settles Colo. AG's Monopoly Claims

    U.S. Anesthesia Partners has said it would cede control of deals with several Colorado hospitals and pay $200,000 in legal fees to settle the state attorney general's allegations that the practice group had anti-competitive control of the market. 

Expert Analysis

  • Every Lawyer Can Act To Prevent Peer Suicide

    Author Photo

    Members of the legal industry can help prevent suicide among their colleagues, and better protect their own mental health, by learning the predictors and symptoms of depression among attorneys and knowing when and how to get practical aid to peers in crisis, says Joan Bibelhausen at Minnesota Lawyers Concerned for Lawyers.

  • Building On Successful Judicial Assignment Reform In Texas

    Author Photo

    Prompt action by the Judicial Conference could curtail judge shopping and improve the efficiency and procedural fairness of the federal courts by implementing random districtwide assignment of cases, which has recently proven successful in Texas patent litigation, says Dabney Carr at Troutman Pepper.

  • Now Is The Time For Independent Industry Self-Regulation

    Author Photo

    The high level of trust in business, coupled with the current political and legal landscape, provides an opportunity for companies to play a meaningful role in finding solutions to public policy issues through the exploration of independent industry self-regulation models, says Eric Reicin at BBB National Programs.

  • AmEx Ruling Proves A Double-Edged Sword In Labor Antitrust

    Author Photo

    Though the U.S. Supreme Court's 2018 decision in Ohio v. American Express was a defense victory, both the plaintiff and defense bars have learned to use the case's holdings to their advantage, with particularly uncertain implications for labor antitrust cases, say Lauren Weinstein and Robert Chen at MoloLamken.

  • Do Videoconferences Establish Jurisdiction With Defendants?

    Author Photo

    What it means to have minimum contacts in a foreign jurisdiction is changing as people become more accustomed to meeting via video, and defendants’ participation in videoconferencing may be used as a sword or a shield in courts’ personal jurisdiction analysis, says Patrick Hickey at Moye White.

  • Takeaways From DOJ's Novel Insider Trading Indictment

    Author Photo

    The U.S. Department of Justice's recently announced insider trading charges in U.S. v. Peizer mark the first indictment based solely on an executive’s use of a Rule 10b5-1 trading plan, reflecting prosecutors' aggressive approach and providing insights for corporate executives, say attorneys at Cleary.

  • Humanism Should Replace Formalism In The Courts

    Author Photo

    The worrying tendency for judges to say "it's just the law talking, not me" in American decision writing has coincided with an historic decline in respect for the courts, but this trend can be reversed if courts develop understandable legal standards and justify them in human terms, says Connecticut Superior Court Judge Thomas Moukawsher.

  • Expect Merger Enforcement To Roll Full Steam Ahead

    Author Photo

    U.S. Department of Justice and Federal Trade Commission officials at the American Bar Association's 2023 Antitrust Spring Meeting laid out their agenda to reinvigorate and modernize antitrust merger enforcement, projecting confidence and optimism despite recent high-profile setbacks in court, say attorneys at Perkins Coie.

  • Don't Let Client Demands Erode Law Firm Autonomy

    Author Photo

    As clients increasingly impose requirements for attorney hiring and retention related to diversity and secondment, law firms must remember their ethical duties, as well as broader issues of lawyer development, culture and firm integrity, to maintain their independence while meaningfully responding to social changes, says Deborah Winokur at Cozen O'Connor.

  • Distressed Cannabis Cos. Have A Few Options, With Caveats

    Author Photo

    As the cannabis industry falls on tough times and a potential recession looms, attorneys should understand the limited restructuring options available to distressed cannabis businesses, absent key bankruptcy protections — and the pitfalls these options may present, say Griffen Thorne and Ethan Minkin at Harris Bricken.

  • How CMS Proposal Would Change PE Deal Transparency

    Author Photo

    The Centers for Medicare and Medicaid Services recently proposed a new rule that would require the disclosure of additional ownership regarding Medicare and Medicaid nursing facilities, an approach that many states have started to take and reflects the Biden administration's scrutiny on private equity deals, say attorneys at Kirkland.

  • Workers, Labor Take Center Stage At ABA Antitrust Meeting

    Author Photo

    The American Bar Association’s antitrust spring meeting had a heavy emphasis on upstream markets affecting employees and talent, and prosecutors sent a clear message that they view no-solicitation, no-poach and no-hire agreements as criminal violations, even in the face of several jury trial setbacks, say attorneys at Perkins Coie.

  • Federal Judge's Amici Invitation Is A Good Idea, With Caveats

    Author Photo

    An Arkansas federal judge’s recent order — inviting amicus briefs in every civil case before him — has merit, but its implementation may raise practical questions about the role of junior attorneys, economic considerations and other issues, says Lawrence Ebner at the Atlantic Legal Foundation.