We assist clients in all stages of merger, acquisition and consolidation. We provide clients with strategic planning advice and analysis concerning consolidation synergies. We conduct market and target due diligence and provide pre-consolidation structuring, antitrust and healthcare regulatory analysis. We then assist and advise our clients in the implementation of all aspects of the transaction and the documentation required to close and effectuate the merger, acquisition or consolidation.
Mergers and Acquisitions Better health
Many participants in the healthcare industry are exploring growth through mergers, acquisitions and consolidations. Barnes & Thornburg's healthcare team includes lawyers with various areas of concentration who provide a full-service, interdisciplinary approach to strategic planning, tax, labor, benefits, regulatory and antitrust issues that often arise in combinations.
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Below is a sampling of our M&A experience in the Healthcare industry:
- Represent a national, publicly traded healthcare provider in enhancing the structure and operations of its healthcare practice acquisition division to facilitate continued expansion of such practices nationally; provide healthcare regulatory and corporate advice towards the creation of compliant, “friendly PC” models/structures in each relevant state and counsel regarding mergers and acquisitions of targeted provider practices.
- Represented a California fertility practice with an enterprise value of $410 million, in a 51% sale of ownership interest in its affiliated physician practice management company to a Chinese private equity company; subsequently represented the affiliated physician practice management company in a restructuring in which it consolidated, along with other health care assets and entities, into a new entity which has filed for its initial public offering.
- Represented the largest diversified health and human services provider in the United States in its day-to-day regulatory, transactional, litigation and contractual needs; notably served as lead deal counsel in several substantive acquisitions of other hospice, home health, pharmacy, residential care, adult foster care, physical therapy and speech pathology entities, which ultimately expanded the providers’ reach of health care service offerings.
- Served as lead regulatory counsel in the recently closed sale of the largest diversified health and human services provider in the United States; gathered and analyzed licenses and registrations implicated by the transaction, researched of change of ownership and change of information notifications and application requirements for all licenses in connection and effectuated all required notices and applications, and advised on government and non-government contracts implicated by the transaction.
- Represented a physician practice management company in a restructuring transaction in which the company consolidated with a number of other healthcare assets in China, Singapore and the U.S., in anticipation of an initial public offering in Hong Kong.
- Assisted in the combination of eight gastrointestinal (GI) practices into one fully integrated medical group that will operate with six strategic business units, which created the largest GI group in Chicagoland. The newly combined medical group will negotiate managed care contracts jointly, share in certain shared revenues and seek to lower expenses on certain services.
- Designed and implemented an innovative model for two anesthesia groups with 50 physicians to merge into one organization and retain certain autonomy at the local-site level and certain key strategic powers to a newly formed board; subsequently represented the group with various strategic mergers and affiliations.
- Represented a specialty medical oncology practice in its ongoing $32 million sale to a private equity group; the first in a series of five practice acquisitions by the private equity group selling specialty Medicaid practices.
- Assisted national retail drugstore conglomerate in significantly expanding its footprint throughout the country through the purchase of multiple department store pharmacies in connection with the Sears bankruptcy; specifically counseled on the purchase and sale agreement and reviewed various bankruptcy pleadings.
- Represented a publicly-traded long-term care chain with over 30 hospitals and long-term care facilities in state licensure and Medicaid enrollment matters during the chain’s reorganization into a real estate investment trust (REIT) and operating company.