Deals & Corporate Governance
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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."
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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.
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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.
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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.
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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.
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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.
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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.
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February 27, 2024
Arnold & Porter Transactions Vet Joins Foley & Lardner
Foley & Lardner LLP announced it has brought on a former Arnold & Porter Kaye Scholer LLP attorney with over 30 years of experience working on transactional matters as a partner in its Silicon Valley, California, office.
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February 27, 2024
Hospital Denies Nurses OT For Work During Breaks, Suit Says
A Michigan hospital has been refusing to pay a group of nurses and technicians overtime wages by automatically deducting pay for meal breaks they cannot take, according to a proposed collective action filed in federal court.
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February 26, 2024
Stimwave Prosecutors Accused Of Brady Violation Mid-Trial
The former CEO of Stimwave Technologies has alleged in the middle of her criminal fraud trial that the Manhattan U.S. Attorney's Office withheld key evidence about proffer meetings, teeing up a potential Brady fight before a skeptical judge.
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February 26, 2024
Ropes & Gray-Led THL Taking Agiliti Private In $2.5B Deal
Medical equipment management company Agiliti is going private in a deal with private equity firm Thomas H. Lee Partners, Agiliti announced Monday.
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February 26, 2024
Justices Say Tribes Can Argue Separately In Healthcare Row
Two Native American tribes seeking to uphold rulings that ordered the federal government to reimburse them millions of dollars in administrative healthcare costs can argue their cases separately, the U.S. Supreme Court said Monday.
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February 23, 2024
Health REIT Hid Halted $375M Equity Stake Deal, Suit Says
A Medical Properties Trust Inc. shareholder accused the hospital-focused real estate investment trust in Maryland federal court of hiding the California government's halting of a $375 million equity stake transaction with a healthcare management services company.
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February 23, 2024
Healthcare AI Startup Abridge Raises $150M
AI clinical documentation company Abridge said on Friday that it had raised a $150 million series C round to build on its existing product lines and accelerate research and development.
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February 23, 2024
Walgreens Investors Near Deal In Suit Over Opioid Epidemic
An Illinois federal judge agreed Friday to maintain a stay in a stockholder derivative suit accusing Walgreens and its leadership of failing to limit retail pharmacies from dispensing unreasonable amounts of opioids, a day after the parties announced an agreement in principle to resolve their dispute.
Expert Analysis
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Avoiding Antitrust Enforcement In Health Care Joint Ventures
Considering the Federal Trade Commission's recent activity in challenging hospital combinations, health care companies must be mindful of antitrust considerations unique to the industry, and employ strategies to minimize enforcement risks, say attorneys at Holland & Knight.
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Murdaugh Trials Offer Law Firms Fraud Prevention Reminders
As the fraud case against Alex Murdaugh continues to play out, the evidence and narrative presented at his murder trial earlier this year may provide lessons for law firms on implementing robust internal controls that can detect and prevent similar kinds of fraud, say Travis Casner and Helga Zauner at Weaver and Tidwell.
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Check Onboarding Docs To Protect Arbitration Agreements
The California Court of Appeal's recent Alberto v. Cambrian Homecare decision opens a new and unexpected avenue of attack on employment arbitration agreements in California — using other employment-related agreements to render otherwise enforceable arbitration agreements unenforceable, say Morgan Forsey and Ian Michalak at Sheppard Mullin.
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Firm Tips For Helping New Lawyers Succeed Post-Pandemic
Ten steps can help firms significantly enhance the experience of attorneys who started their careers in the coronavirus pandemic era, including facilitating opportunities for cross-firm connection, which can ultimately help build momentum for business development, says Lana Manganiello at Equinox Strategy Partners.
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Fla. Foreign Real Estate Law Brings Broad Investment Risks
Last month, Florida became the latest state to enact legislation prohibiting Chinese investors from acquiring certain interests in real property, introducing significant legal uncertainty and consequences for real estate stakeholders and the private equity industry, say attorneys at Simpson Thacher.
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Tackling Judge-Shopping Concerns While Honoring Localism
As the debate continues over judge-shopping and case assignments in federal court, policymakers should look to a hybrid model that preserves the benefits of localism for those cases that warrant it, while preventing the appearance of judge-shopping for cases of a more national or widespread character, says Joshua Sohn at the U.S. Department of Justice.
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How Attorneys Can Help Combat Anti-Asian Hate
Amid an exponential increase in violence against Asian American and Pacific Islander communities, unique obstacles stand in the way of accountability and justice — but lawyers can effect powerful change by raising awareness, offering legal representation, advocating for victims’ rights and more, say attorneys at Gibson Dunn.
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Congress Needs To Enact A Federal Anti-SLAPP Statute
Although many states have passed statutes meant to prevent individuals or entities from filing strategic lawsuits against public participation, other states have not, so it's time for Congress to enact a federal statute to ensure that free speech and petitioning rights are uniformly protected nationwide in federal court, say attorneys at Skadden.
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Takeaways From New Fla. Pharmacy Benefit Manager Rules
A recently passed Florida law imposes several new requirements on pharmacy benefit managers, necessitating practical considerations that range from potential license application delays to possible trade secret exposure, say Thomas Range and Bruce Platt at Akerman.
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Looking For Plausibility In FTC's Amgen Merger Challenge
The Federal Trade Commission is seeking to block Amgen's acquisition of Horizon, alleging that, if consummated, the deal would violate Section 7 of the Clayton Act — but this may be the first merger complaint in a generation that could be dismissed for failing to state a claim, say William MacLeod and David Evans at Kelley Drye.
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Some Client Speculations On AI And The Law Firm Biz Model
Generative artificial intelligence technologies will put pressure on the business of law as it is structured currently, but clients may end up with more price certainty for legal services, and lawyers may spend more time being lawyers, says Jonathan Cole at Melody Capital.
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A Lawyer's Guide To Approaching Digital Assets In Discovery
The booming growth of cryptocurrency and non-fungible tokens has made digital assets relevant in many legal disputes but also poses several challenges for discovery, so lawyers must garner an understanding of the technology behind these assets, the way they function, and how they're held, says Brett Sager at Ehrenstein Sager.
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High Court's Ethics Statement Places Justices Above The Law
The U.S. Supreme Court justices' disappointing statement on the court's ethics principles and practices reveals that not only are they satisfied with a status quo in which they are bound by fewer ethics rules than other federal judges, but also that they've twisted the few rules that do apply to them, says David Janovsky at the Project on Government Oversight.