Deals & Corporate Governance

  • February 06, 2024

    McDermott-Led 3 Boomerang Nabs $375M For Debut Fund

    Healthcare-focused private equity firm 3 Boomerang said Tuesday that it had wrapped fundraising for its inaugural investment vehicle, 3 Boomerang Capital I LP, with over $375 million in capital commitments, led by McDermott Will & Emery LLP.

  • February 06, 2024

    Sheppard Mullin Adds Partner From Faegre Drinker In Chicago

    Sheppard Mullin Richter & Hampton's Chicago office has gained a healthcare transactions partner from Faegre Drinker Biddle & Reath LLP, Sheppard announced Tuesday.

  • February 06, 2024

    AI Operating System Built For Healthcare Lands $70M

    San Francisco-based Ambience Healthcare, a generative AI technology startup targeting the medical world, has raised $70 million in Series B funding, the company announced Tuesday.

  • February 06, 2024

    Freshfields Helps Novartis Buy German Pharma In €2.7B Deal

    Swiss pharmaceutical giant Novartis AG has agreed to buy MorphoSys AG in a deal that values the German biopharmaceutical group at €2.7 billion ($2.9 billion) as it seeks to develop its oncology treatment options.

  • February 05, 2024

    Zymergen Ch. 11 Plan Confirmed After Investor Objection

    Biotechnology company Zymergen received confirmation of its Chapter 11 plan Monday at a hearing in Delaware bankruptcy court after resolving an objection to the plan from a class of investors suing the company.

  • February 05, 2024

    Northwind, REIT Close $52M In Loans For Healthcare Facilities

    Northwind Group and CareTrust REIT Inc. originated more than $52M in mezzanine loans that were secured with 26 healthcare properties in California, Missouri and Virginia, the companies announced Monday.

  • February 05, 2024

    Healthcare Group Cano Health Hits Ch. 11 With $1.3B Debt

    Primary care group Cano Health Inc. has filed for Chapter 11 protection in Delaware bankruptcy court, saying it will be pursuing a prearranged double-track plan to either restructure its $1.26 billion in debt or seek a buyer.

  • February 05, 2024

    Novo Holdings Buying Biopharma Co. Catalent In $16.5B Deal

    Novo Holdings, the controlling shareholder in Novo Nordisk Foundation, said Monday it has agreed to acquire Catalent in an all-cash transaction that values the pharmaceutical company at $16.5 billion, including debt, about five months after Catalent struck a deal with activist investor Elliott Investment Management to conduct a strategic review. 

  • February 02, 2024

    Dinsmore Broadens Healthcare Capabilities With New Partner

    Dinsmore & Shohl LLP has added a partner who specializes in healthcare transactions and counseling healthcare clients, allowing it to broaden services offered to the industry, the firm announced Friday.

  • February 02, 2024

    Staffing Firm Challenges $9M Classification Ruling At 4th Circ.

    A Virginia federal court made several mistakes when it ordered a medical staffing company to pay $9 million to nurses in a misclassification suit, the company told the Fourth Circuit on Friday, saying the ruling would decimate the nursing industry.

  • February 02, 2024

    Morgan Lewis Accused Of Improperly Helping Health Biz CEO

    A healthcare company with offices in New Jersey alleged this week that a Morgan Lewis & Bockius LLP partner committed malpractice during a deal to sell the company by aiding its then-CEO in negotiating a $9 million bonus for himself, at the expense of the business.

  • February 01, 2024

    Tenet Healthcare To Shed 4 Calif. Hospitals For $975M

    Tenet Healthcare Corp. is selling four of its California hospitals in Orange County and Los Angeles County to UCI Health in an all-cash deal of around $975 million, the two announced Thursday.

  • February 01, 2024

    Bankrupt Pharma Co. Impel Gets OK For $17.5M Sale

    Migraine-drug maker Impel Pharmaceuticals can proceed with its sale to JN Bidco LLC, which had made a $17.5 million stalking horse bid, U.S. Bankruptcy Judge Stacey G. Jernigan said at a hearing Thursday in a Texas bankruptcy court.

  • February 01, 2024

    Life Sciences VC Firm Seroba Closes $134M Fund

    Seroba, a European life sciences venture capital firm, said Thursday it has closed a new fund focused on early-stage life sciences companies at €123 million ($134 million).

  • January 31, 2024

    Cooley-Led Vaxcyte Prices $750M Public Offering

    Public vaccine developer Vaxcyte has priced a $750 million public offering of common stock and pre-funded warrants, represented by Cooley LLP, the company has announced.

  • January 31, 2024

    Cardinal Health Buys Specialty Networks In $1.2B Deal

    Healthcare services company Cardinal Health announced Wednesday that it has entered into a deal to buy health platform Specialty Networks for $1.2 billion in cash.

  • January 31, 2024

    8 Firms Lead $3.7B Sale Of Cigna Medicare Businesses

    The Cigna Group will sell multiple health benefits and Medicare units to Health Care Service Corp., the companies said Wednesday in an announcement detailing a deal valued at around $3.7 billion and steered by Wachtell Lipton Rosen & Katz, Rule Garza Howley LLP, Mintz Levin Cohn Ferris Glovsky and Popeo PC and Sidley Austin LLP.

  • January 30, 2024

    NC Federal Judge OKs Temporary Halt In Novant Hospital Deal

    Novant Health's push to buy two North Carolina hospitals is on hold after a federal judge granted a temporary restraining order Monday pausing the $320 million transaction, a step each party agreed to amid the antitrust challenge.

  • January 30, 2024

    Minority USPS Workers Lack Access To Counseling, Suit Says

    The U.S. Postal Service violates federal law by making an anonymous counseling program available for postal inspectors, who are predominantly white, while not doing the same for its largely Black and Hispanic postal police officers, a proposed collective action told a California federal court.

  • January 29, 2024

    Don't Keep Us Out Of ITC, Startup Says In Apple Watch Row

    A Silicon Valley medical device startup that wants the U.S. International Trade Commission to ban certain health-related features from being employed by new Apple Watches is arguing that this dispute is important to ensure that other startups that don't make products can litigate their grievances with tech giants at the Washington, D.C.-based commission.

  • January 29, 2024

    2 Biotech Firms Join IPO Fray With Plans To Raise $211M

    Two drug developers, metabolism-focused Fractyl Health Inc. and psychiatry-focused Alto NeuroScience Inc., joined a growing pipeline of initial public offerings Monday by unveiling plans for IPOs that could net $211 million combined, guided by three law firms.

  • January 29, 2024

    Imperative Care Names O'Melveny Deals Partner As CLO

    Silicon Valley's Imperative Care announced Monday that an O'Melveny deals partner will take over as chief legal officer, joining a revamped leadership team at the medical tech company.

  • January 26, 2024

    $298M Contract Row Can't Stay In Federal Court, Sellers Say

    The sellers of a $257 million portfolio of 17 North and South Carolina skilled nursing and assisted living facilities urged a North Carolina federal court to dismiss the portfolio buyers' suit over a deal that had a total value of more than $298 million, arguing on Friday that the asset purchase agreement for the soured deal has a forum selection clause that forces them to litigate in North Carolina state court.

  • January 26, 2024

    NJ Health Network Accused Of Poaching Docs Amid JV Talks

    A major Garden State healthcare provider "decimated" a private orthopedic surgery practice when it abruptly scuttled talks on a potential joint venture and poached 10 physicians, a suit filed in New Jersey state court claims.

  • January 26, 2024

    Ex-Goodwin Procter Life Sciences Atty Joins DLA Piper In NY

    DLA Piper announced it has hired an experienced life sciences transactional attorney from Goodwin Procter LLP as a New York-based partner in its corporate practice.

Expert Analysis

  • Cannabis Cos. Must Heed Growing Federal Investigatory Risks

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    As state-regulated cannabis markets expand rapidly, so too does government oversight, and industry participants must plan ahead to avoid potential liabilities related to workplace health and safety requirements, tax audits, securities regulations and foreign bribery laws, say Alicia Corona and Amy Rubenstein at Dentons.

  • Employee COVID Protocols After National Emergency Ends

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    Now that the Biden administration has announced its plan to officially end the COVID-19 national emergency and public health emergency in May, employers must carefully consider how to proceed with their mandatory vaccine policies and other responses to the pandemic, say Elisabeth Hall and Olubusola Olanrewaju at Miles & Stockbridge.

  • Recent Growth Factors Driving Life Sciences Transactions

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    In view of challenges posed by last year's economic downturn, life sciences companies have increasingly turned to collaboration and licensing arrangements, with a focus on deal activity in artificial intelligence, digital health and gene therapy, say attorneys at Ropes & Gray.

  • Stanford Law Protest Highlights Rise Of Incivility In Discourse

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    The recent Stanford Law School incident, where students disrupted a speech by U.S. Circuit Judge Kyle Duncan, should be a reminder to teach law students how to be effective advocates without endangering physical and mental health, says Nancy Rapoport at the University of Nevada.

  • Dispute Prevention Strategies To Halt Strife Before It Starts

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    With geopolitical turbulence presenting increased risks of business disputes amid court backlogs and ballooning costs, companies should consider building mechanisms for dispute prevention into newly established partnerships to constructively resolve conflicts before they do costly damage, say Ellen Waldman and Allen Waxman at the International Institute for Conflict Prevention and Resolution.

  • Practical Skills Young Attorneys Must Master To Be Happier

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    For young lawyers, finding happiness on the job — with its competitive nature and high expectations for billable hours — is complicated, but three skills can help them gain confidence, reduce stress and demonstrate their professional value in ways they never imagined, says career counselor Susan Smith Blakely.

  • 4 Ways State Oversight May Change Nationwide Health Deals

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    With California soon to become the most recent state to increase its oversight of health care mergers, acquisitions and investments, attorneys should consider how these updated state regulations may increase the costs, timelines and disclosure requirements for national deals, say John Saran and Jaclyn Freshman at Ropes & Gray.

  • Could The Supreme Court Legalize Marijuana Federally?

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    Amid slow legislative and executive movement on cannabis reform, it’s worth examining whether the U.S. Supreme Court could provide a pathway to federal cannabis legalization — a decision that would surely require strange bedfellows given the court’s current ideological makeup, say Whitt Steineker and Mason Kruse at Bradley Arant.

  • Establishing A Record Of Good Faith In Mediation

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    Viacom v. U.S. Specialty Insurance, and other recent cases, highlight the developing criteria for determining good faith participation in mediation, as well as several practical tips to establish such a record, says Richard Mason at MasonADR.

  • ABA Opinion Should Help Clarify Which Ethics Rules Apply

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    A recent American Bar Association opinion provides key guidance on interpreting ABA Model Rule 8.5's notoriously complex choice-of-law analysis — and should help lawyers authorized to practice in multiple jurisdictions determine which jurisdiction's ethics rules govern their conduct, say attorneys at HWG.

  • How Cannabis Cos. Can Keep Up With Privacy Compliance

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    With the cannabis industry's rapid growth and access to sensitive consumer information, and the ever-changing patchwork of state data privacy laws, it is becoming increasingly important for marijuana businesses to treat cybersecurity as a significant risk and management priority, say attorneys at Goodwin.

  • 4 Ways To Reboot Your Firm's Stalled Diversity Program

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    Law firms that have failed to see real progress despite years of diversity initiatives can move forward by committing to tackle four often-taboo obstacles that hinder diversity, equity and inclusion efforts, says Steph Maher at Jaffe.

  • DOJ's Google Sanctions Motion Shows Risks Of Auto-Deletion

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    The U.S. Department of Justice recently hit Google with a sanctions motion over its alleged failure to preserve relevant instant-messaging communications, a predicament that should be a wake-up call for counsel concerning the danger associated with automatic-deletion features and how it's been handled by the courts, say Oscar Shine and Emma Ashe at Selendy Gay.