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Healthcare & Life Sciences Private Equity Deal Tracker: Warburg Pincus to Acquire CityMD

by McGuireWoods LLP on

Warburg Pincus has announced it will acquire CityMD. CityMD, founded in 2010, is an urgent care provider with more than 68 locations in the greater New York metropolitan area and Seattle....more

Healthcare & Life Sciences Private Equity Deal Tracker: KKR to Acquire Angelica Corp.

by McGuireWoods LLP on

Angelica Corp. has announced it has entered into an asset purchase agreement with an affiliate of PE firm KKR. KKR will acquire Angelica’s assets for approximately $125 million plus certain assumed liabilities. Angelica...more

Ninth Circuit: Medical Providers Lack ERISA Standing

The Ninth Circuit affirmed two district court decisions that concluded medical providers were not “beneficiaries” under Section 502(a) of ERISA and therefore lacked standing to bring an ERISA claim...more

Corporate E-Note - March 2017

by Burr & Forman on

Burr & Forman recently defended the contract manufacturer XYMOGEN, Inc. in a federal jury trial involving a $16,000,000 lost profits claim by a disgruntled former customer. Please see full E-Note below for more...more

Fourth Circuit Rejects Retirees’ Claim for Vested Health Benefits

The Fourth Circuit upheld an employer’s unilateral decision to amend a collective bargaining agreement to cap employer contributions to retiree health benefits and freeze Medicare reimbursements for hourly retirees...more

TechConnect - Your Law Firm Link to Industry News - March 2017

by Mintz Levin on

Happy spring! This issue includes two articles that challenge conventional thinking. The first, called “Software is Still Patent Eligible,” makes the case that software patents can still be obtained. IP generally accretes in...more

The Cross-Industry Promise of Blockchain

The blockchain protocol (a form of a ‘distributed ledger system’) was originally designed as a platform to process Bitcoin transactions. The protocol enables peer-to-peer transactions and eliminates the need for a trusted...more

Happy Data Privacy Day! A Few Tips from the MVA Privacy and Data Security Group

by Moore & Van Allen PLLC on

Saturday January 28, 2017 is Data Privacy Day. The Moore & Van Allen Privacy and Data Security group took a break from the pre-holiday revelries to put together some thoughts and tips for DataPoints. So hoist a glass and...more

Healthcare & Life Sciences Private Equity Deal Tracker: Bain Capital Private Equity to Acquire PSA Healthcare

by McGuireWoods LLP on

PSA Healthcare has announced it has agreed to be acquired by a newly formed affiliate of Bain Capital Private Equity. In December 2016, Bain Capital Private Equity agreed to acquire Epic Health Services. As a result of...more

Court Refuses To Enforce Arbitration Clause Due To Lack Of Mental Capacity

by Winstead PC on

In Oak Crest Manor Nursing Home, LLC v. Barba, a plaintiff sued a nursing home for negligently allowing a patient with mental disorders to leave the facility and jump from a bridge in an attempt to commit suicide. No....more

Healthcare & Life Sciences Private Equity Deal Tracker: Silversmith Backs New ASC Management and Development Company

by McGuireWoods LLP on

Silversmith Capital Partners has announced it is helping fund the formation of new ambulatory surgery center (ASC) company Partners Surgical Corporation (PSC). PSC, based in Houston, is focused on acquiring, developing...more

Leading Private Equity Firms That Invest in Healthcare (Part IV)

by McGuireWoods LLP on

This column is the final segment of a multi-part series published in 2016 highlighting some of the more active private equity investors in the healthcare and life science space. These investors are primarily funds that focus...more

Healthcare & Life Sciences Private Equity Deal Tracker: Bain Capital Acquires Epic Health Services From Webster Capital

by McGuireWoods LLP on

Epic Health Services has announced it will be acquired by Bain Capital Private Equity from Webster Capital. Epic Health Services, headquartered in Dallas, is a provider of pediatric skilled nursing, therapy,...more

IRS Eases Safe Harbor Conditions Under Which a Contract with a Hospital Will Not Result in Private Business Use of Tax-Exempt...

by Roetzel & Andress on

Under federal income tax law, the tax-exempt status of a bond is jeopardized if the proceeds of the bond are used for a private business use. Because hospital facilities are often financed with tax-exempt bonds, hospital...more

DOJ-AmEx Case Could Have Ramifications for Health Care Providers

by Polsinelli on

The U.S. Department of Justice's loss to American Express sends a message to health care providers: Steering, tiering, exclusive dealing and other contractual arrangements that appear to suppress competition in one part of...more

Rev. Proc. 2016-44: Greater Flexibility in IRS Safe Harbor for Management Contracts

by Jackson Walker on

Recently, the IRS released a safe harbor from private use of tax-exempt bond-financed facilities for management contracts that profoundly changes the safe harbors that have been in place under Rev. Proc. 97-13 for almost 20...more

Guidelines for Written Information Security Policies

by Bryan Cave on

Although federal law only requires that financial institutions and health care providers maintain a written information security policy or “WISP,” approximately thirty four states have enacted legislation that requires...more

The Dennis Decision: A Shot Across the Bow for Hospitals

by Williams Mullen on

A recent Virginia court decision questions the reasonable value of health care services and creates a challenge to debt collection efforts by hospitals. In March, the Circuit Court for Henry County, Patrick County, and the...more

Headlines from Mid-Year FCPA Enforcement Review

by Michael Volkov on

Just to add my voice to the cottage industry surrounding FCPA enforcement and compliance, I wanted to take a deep breath and offer some observations on FCPA enforcement in 2016. There are a few significant headlines...more

California Health Care District Financing Techniques

Across the nation, the delivery of health care services is undergoing a period of transformation. Much of this change is being driven by The Affordable Care Act signed into law in 2010. Many hospital facilities in...more

Health Care Group News: Part Two: The Rest of SB 351 (Now Public Act 16-95)

by Murtha Cullina on

While Senate Bill 351, now enacted as Public Act 16-95 (the "Act"), received attention for the limits it placed on physician non-compete provisions, numerous other provisions of the Act are worth highlighting. These...more

Your daily dose of financial news The Brief – 5.4.16

by Robins Kaplan LLP on

MetLife, accused by regulators of misleading tens of thousands of customers about variable annuities—“a product that retirees seek out for safety,” will pay a $25 million dollar fine for its actions. It’s the second-largest...more

Your daily dose of financial news The Brief – 4.29.16

by Robins Kaplan LLP on

Dealbook looks back at a crazy Thursday of healthcare company deals [with Abbott/St. Jude taking the prize for biggest] and concludes that the industry appears to be “convinced, regardless of tax benefits [or common financial...more

Changes to IRS Partnership and LLC Audit Rules

Recent history has seen a proliferation of health care organizations—including tax-exempt organizations, for-profit companies, and physician practice groups—that have joined together to take advantage of different synergies...more

Your daily dose of financial news The Brief – 4.11.16

by Robins Kaplan LLP on

The UK’s Daily Mail is reportedly joining Verizon in the field of suitors for Yahoo’s assets – WSJ - It’s no surprise when mega mergers attract the government’s attention, as we’ve seen in past weeks around here. But...more

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