Deals & Corporate Governance

  • 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.

  • January 25, 2024

    Danaher Execs Face Investor Suit Over Post-Pandemic Slump

    Shareholders of global science and technology company Danaher claim its top brass misled them about increased revenue growth during the onset of the COVID-19 pandemic and failed to inform them that it was not sustainable as the virus entered an "endemic" state.

  • January 25, 2024

    Colo. REIT Overpaid For $21B Merger, Investor Says

    A shareholder of a Colorado-based real estate investment trust alleged in a Denver court Thursday the company misled investors about a $21 billion merger, overpaid for the acquisition by at least $1 billion and watered down the value of stock held by its existing investors.

  • January 25, 2024

    PE-Backed BrightSpring Prices $693M IPO Below Range

    Private equity-backed healthcare platform BrightSpring Health Services Inc. on Thursday priced a $693 million initial public offering below its range, represented by Simpson Thacher & Bartlett LLP and underwriters counsel Latham & Watkins LLP.

  • January 25, 2024

    FTC Sues To Stop NC Healthcare Systems' $320M Deal

    The Federal Trade Commission announced Thursday it has sued to block a $320 million deal between health network Novant Health and publicly traded healthcare company Community Health Systems.

  • January 25, 2024

    Service Snag Delays Hospital Operator's Ch. 11 Confirmation

    California-based hospital operator Alecto Healthcare Services LLC will wait until March to seek confirmation of its proposed Chapter 11 plan as a small-business debtor, after attorneys told a Delaware bankruptcy judge Thursday it hadn't served notice of the proposal to roughly 700 creditors. 

  • January 25, 2024

    Kirkland Reps Arlington Capital On $3.8B Fund VI

    Kirkland & Ellis LLP-advised Arlington Capital Partners on Thursday announced that it closed its sixth fund at its hard cap with $3.8 billion in commitments, making the fund the largest in the Washington, D.C.-area-based firm's 25-year history.

Expert Analysis

  • Tide May Be Turning On Texas Two-Step Bankruptcy Strategy

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    Recent developments in several high-profile bankruptcy cases suggest that the use of the Texas Two-Step to shield solvent companies from tort claims may be falling out of favor, but until the U.S. Supreme Court hears one of these cases the strategy will remain divisive and the subject of increased scrutiny, say attorneys at Rivkin Radler.

  • Ways To Balance ESG Initiatives And Antitrust Risks

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    Since ESG policies often concern systemic issues that require collective action for meaningful results, there are potential antitrust issues that require safeguards to help mitigate risk, say attorneys at Faegre Drinker.

  • Level Up Lawyers' Business Development With Gamification

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    With employee engagement at a 10-year low in the U.S., there are several gamification techniques marketing and business development teams at law firms can use to make generating new clients and matters more appealing to lawyers, says Heather McCullough at Society 54.

  • Mallory Ruling Leaves Personal Jurisdiction Deeply Unsettled

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    In Mallory v. Norfolk Southern Railway, a closely divided U.S. Supreme Court recently rolled back key aspects of its 2017 opinion in Daimler AG v. Bauman that limited personal jurisdiction, leaving as many questions for businesses as it answers, say John Cerreta and James Rotondo at Day Pitney.

  • Recent Provider Relief Fund Audits Are Just The Beginning

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    Though the Health Resources and Services Administration's initial audits of the Provider Relief Fund program appear to be limited in scope, fund recipients should prepare for additional oversight, scrutiny and disallowances as the HRSA ramps up its efforts, say Brian Lee and Christopher Frisina at Alston & Bird.

  • 5 Ways Firms Can Rethink Office Design In A Hybrid World

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    As workplaces across the country adapt to flexible work, law firms must prioritize individuality, amenities and technology in office design, says Kristin Cerutti at Nelson Worldwide.

  • Bar Score Is Best Hiring Metric Post-Affirmative Action

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    After the U.S. Supreme Court's ruling striking down affirmative action admissions policies, law firms looking to foster diversity in hiring should view an applicant's Multistate Bar Examination score as the best metric of legal ability — over law school name or GPA, says attorney Alice Griffin.

  • Joint Ventures Given More Edge In Set-Aside Contract Awards

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    The recent Court of Federal Claims decision in SH Synergy prompted the General Services Administration to remold proposal evaluation schemes to favor mentor-protégé joint ventures, a business structure that has taken over the world of set-aside governmentwide acquisition contracts, say Roger Abbott and Stephen Ramaley at Miles & Stockbridge.

  • New Health Data Compliance Considerations For Pa. Lawyers

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    Given the regularity with which attorneys handle private health information, it is important for Pennsylvania firms to understand recent significant amendments to the state's data breach law, which address information not currently covered by federal law, says Mark Mattioli at Post & Schell.

  • Ghosting In BigLaw: How To Come Back From Lack Of Feedback

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    Junior associates can feel powerless when senior colleagues cut off contact instead of providing useful feedback, but young attorneys can get back on track by focusing on practical professional development and reexamining their career priorities, says Rachel Patterson at Orrick.

  • Conn. Certificate-Of-Need Law Will Bring Greater Efficiency

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    A new Connecticut law benefits health care organizations by establishing more concrete deadlines and requirements for the state's certificate-of-need law enforcer, and allows the enforcement agency to carry out its duties more efficiently, say attorneys at Robinson & Cole.

  • Steps To Success For Senior Associates

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    Adriana Paris at Rissman Barrett discusses the increased responsibilities and opportunities that becoming a senior associate brings and what attorneys in this role should prioritize to flourish in this stressful but rewarding next level in their careers.

  • Legal Profession Must Do More For Lawyers With Disabilities

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    At the start of Disability Pride month, Rosalyn Richter at Arnold & Porter looks at why lawyers with disabilities are significantly underrepresented in private practice, asserting that law firms and other employers must do more to conquer the implicit bias that deters attorneys from seeking accommodations.