Deals & Corporate Governance

  • March 05, 2024

    DocGo Hit With Investor Suit Over 'Limitless' Charter Clause

    A mobile-healthcare company under scrutiny after being awarded a $432 million contract to provide services for migrants in New York City has been hit with a stockholder suit in Delaware's Court of Chancery alleging that the company's charter contains "broad and limitless" provisions that run afoul of state corporate law.

  • March 05, 2024

    Rite Aid Process To Break Leases, Close Stores In Ch. 11 OK'd

    A New Jersey bankruptcy judge on Tuesday signed off on procedures for bankrupt retail pharmacy chain Rite Aid Corp. to potentially shutter 210 rented stores with fast-approaching lease rejection deadlines, overruling objections from two landlords.

  • March 05, 2024

    EQT Lands $3.3B For Climate And Health Investments

    Swedish private equity giant EQT, advised by Kirkland & Ellis LLP, on Tuesday announced that it clinched its EQT Future Fund after securing €3 billion ($3.3 billion) in commitments, which will be used to invest across the climate and nature and health and well-being sectors.

  • March 04, 2024

    Novant Rival Fights Bid To Access Confidential FTC Docs

    Novant Health can't unshield information given to regulators challenging its $320 million merger with two hospitals in North Carolina, a competitor hospital has told a federal court, saying it turned over those sensitive documents believing they would always be kept under wraps.

  • March 04, 2024

    Hospital Operator Pushes For Ch. 11 Plan Confirmation

    California-based hospital operator Alecto Healthcare Services LLC defended its Chapter 11 plan proposal Monday in Delaware bankruptcy court, saying opposition from creditors is based on a faulty belief that there are valuable claims that can be asserted for the benefit of creditors.

  • March 04, 2024

    Bayer Pays $310M For European Rights To Heart Drug

    German pharmaceutical giant Bayer and public biopharmaceutical company BridgeBio announced Monday that they would form a $310 million partnership centered on the experimental heart drug acoramidis.

  • March 04, 2024

    Sorrento Creditors Fight To Keep Ch. 11 In Texas

    Creditors for drug developer Sorrento Therapeutics Inc. have asked a Texas bankruptcy judge to keep the company's Chapter 11 case in the Lone Star State, saying the U.S. trustee's bid to move it comes too late and wouldn't help those hoping for recoveries.

  • March 04, 2024

    REIT Adds Board Posts To End Contest With Activist Investor

    Healthcare real estate investment trust Ventas Inc. has agreed to add two new board members in a one-year deal to end a campaign for changes at the firm from an activist investor hedge fund that has accused the REIT of lagging behind its industry peers.

  • March 01, 2024

    NY Judge Tosses $6.4B BMS Investor Action For Good

    Celgene Corp. investors could not convince a New York federal judge that Bristol-Myers Squibb Co. was intentionally trying to flout securities law by delaying the U.S. Food and Drug Administration's approval of a cancer treatment in order to avoid giving them a $6.4 billion payout. 

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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."

  • 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.

  • 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. 

  • 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.

  • 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.

  • 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.

Expert Analysis

  • Parsing Through The FTC's Proposed Health Privacy Updates

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    The Federal Trade Commission's recently proposed updates to its Health Breach Notification Rule contain subtle but significant changes to key terms that help modernize the agency's health app regulation and provide stakeholders an important opportunity to help shape the future of virtual health care, say attorneys at Arnold & Porter.

  • Regulating AI: An Overview Of Federal Efforts

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    The U.S. has been carefully managing a national policy and regulatory ecosystem toward artificial intelligence, but as AI technology continues to expand into our everyday lives, so too has its risks and the need for regulation, says Jennifer Maisel at Rothwell Figg.

  • Merger Guidelines Should Provide For Competition Trustees

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    Following the U.S. antitrust agencies' release of draft merger guidelines, retired U.S. Court of Federal Claims Chief Judge Susan Braden suggests a court-appointed competition trustee would help ensure U.S. competition without impairing economic prosperity.

  • Indivior Ruling May Affect Rebate Wall Litigation

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    A New Jersey federal court's recent decision in Indivior v. Alvogen, in which a claim that an alleged rebate wall anti-competitively blocked generic competition survived summary judgment, may provide a blueprint for successfully challenging other drug rebating practices, say Peter Herrick and Monsura Sirajee at O'Melveny.

  • Merger Guidelines' Broad Tack Ignores Recent Precedent

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    The U.S. Justice Department and Federal Trade Commission's new proposed merger guidelines are consistent with the Biden administration's expansive approach to antitrust enforcement, but they fail to grapple meaningfully with much of modern economic precedent and court decisions requiring greater agency rigor in merger analysis, say attorneys at Freshfields.

  • Mallory Gives Plaintiffs A Better Shot At Justice

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    Critics of the U.S. Supreme Court's recent decision in Mallory v. Norfolk Southern claim it opens the door to litigation tourism, but the ruling simply gives plaintiffs more options — enabling them to seek justice against major corporations in the best possible court, say Rayna Kessler and Ethan Seidenberg at Robins Kaplan.

  • Courts Can Overturn Deficient State Regulations, Too

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    While suits challenging federal regulations have become commonplace, such cases against state agencies are virtually nonexistent, but many states have provisions that allow litigants to bring suit for regulations with inadequate cost-benefit analyses, says Reeve Bull at the Virginia Office of Regulatory Management.

  • Tales From The Trenches Of Remote Depositions

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    As practitioners continue to conduct depositions remotely in the post-pandemic world, these virtual environments are rife with opportunities for improper behavior such as witness coaching, scripted testimony and a general lack of civility — but there are methods to prevent and combat these behaviors, say Jennifer Gibbs and Bennett Moss at Zelle.

  • What's New In The DOJ-FTC Proposed Merger Guidelines

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    While this week's merger guidelines proposal from the Federal Trade Commission and U.S. Department of Justice initially appears to reflect well-established principles of antitrust law, a closer examination reveals a stark departure from the last 40 years of antitrust enforcement, say attorneys at Skadden.

  • 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.