Deals & Corporate Governance

  • May 10, 2024

    Atty Says Panoramic Fired Her For Raising Compliance Issues

    Panoramic Health faces a wrongful termination suit filed Thursday in Colorado federal court by its former assistant general counsel who claims she was fired after raising concerns about its alleged noncompliance with federal anti-kickback statutes and regulations over its federally funded kidney care contracting program.

  • May 09, 2024

    Masimo Makes Offer To End Activist Politan's Proxy Contest

    Medical technology company Masimo Corp. revealed Thursday that it is willing to appoint one of the director nominees put forth by activist investment firm Politan Capital Management LP in exchange for the company dropping its proxy fight, though Politan signaled distaste with the proposed deal.

  • May 09, 2024

    DOJ Task Force To Target Healthcare Monopoly, Collusion

    The U.S. Department of Justice's Antitrust Division sharpened its focus Thursday on healthcare platforms that combine doctors with insurers, data and more in what the administration's top competition official called the "alarming" accumulation of assets.

  • May 09, 2024

    Hospital REIT Sees $736M Loss After Tenant's Ch. 11 Filing

    Medical Properties Trust, a healthcare real estate investment trust, lost $736 million in the first quarter of the year from the financial collapse of Steward Health Care, a major tenant, and the write-off of an international joint venture, executives said on May 9.

  • May 08, 2024

    Shockwave Medical Investor Challenges $13B Deal With J&J

    A shareholder of cardiovascular treatment company Shockwave Medical Inc. is attempting to halt the company's "unfair" $13 billion proposed transaction with Johnson & Johnson by filing a securities suit, saying the transaction will only benefit company insiders and damage public shareholders.

  • May 07, 2024

    Novant CEO Vows To Improve Hospitals Facing FTC Scrutiny

    Novant Health kicked off its defense Tuesday in the Federal Trade Commission's $320 million merger challenge with testimony from its longtime CEO, who vocalized the health system's promise to reinvest in the two struggling hospitals at the center of the case.

  • May 07, 2024

    Takeaways From This Week's Healthcare Earnings

    First-quarter results from the healthcare industry found rising biotech confidence boosted by better-than-expected sales. Major insurers were less enthusiastic. Here, Law360 has the big takeaways from last week's earnings.

  • May 07, 2024

    $55M Hospital Merger Suit Deal OK'd, UHC Objection Rejected

    An Illinois federal judge has given final approval to a $55 million class settlement, with $23.5 million in legal costs and attorney fees, resolving patient antitrust claims over a NorthShore University HealthSystem merger, all while finding that United Healthcare Services had no standing to object to the deal.

  • May 07, 2024

    Meet The Weil Attys Guiding Steward Health's Ch. 11

    A team of attorneys from Weil Gotshal & Manges LLP is representing Steward Health Care System LLC as the embattled hospital operator navigates Chapter 11 in a Texas bankruptcy court with more than $1 billion in debt.

  • May 07, 2024

    What Walmart Health's Shutdown May Mean For Retail Clinics

    In the wake of major closure announcements by Walgreens and Walmart, some experts see signs of a larger retreat in brick-and-mortar healthcare clinics as retailers are buffeted by high overhead fees, failed expansion plans and complex business models.

  • May 06, 2024

    Biotech Co. Wants To Appeal Red Cross Antitrust Immunity

    A biotech company has told a Massachusetts federal court that giving the American Red Cross immunity from claims that it smothered competition in the platelet bacteria mitigation market is unprecedented and leaves the organization free to fix prices or buy up its competitors.

  • May 06, 2024

    Texas Health Coordinator Urges Nonprofit Status At 5th Circ.

    A Texas company that coordinates healthcare for chronically ill patients should not be barred from claiming tax-exempt status, it told the Fifth Circuit on Monday, arguing that the U.S. Tax Court applied an incorrect legal standard when it revoked the group's status.

  • May 06, 2024

    Latham & Watkins, Simpson Thacher Steer Healthcare JV

    Healthcare Realty Trust Inc. and KKR announced on Monday that the two have entered a joint venture to own and invest in quality medical outpatient buildings, in a deal guided by Latham & Watkins LLP and Simpson Thacher & Barlett LLP.

  • May 06, 2024

    Hospital Chain Steward Health Hits Ch. 11 With Over $1B Debt

    Embattled hospital operator Steward Health Care filed for Chapter 11 protection Monday in a Texas bankruptcy court with more than $1 billion in debt, blaming rising costs and falling government reimbursement rates.

  • May 03, 2024

    Hospital In Novant Merger Beset By Staff Turnover, Court Told

    The Federal Trade Commission and two healthcare companies used witness testimony Friday to paint competing pictures of a North Carolina hospital at the center of a $320 million merger dispute: one in which the hospital has focused on making quality improvements, and another where it's been plagued by poor ratings and high staff turnover.

  • May 03, 2024

    FTC Requests Additional Info On $16.5B Novo-Catalent Deal

    The Federal Trade Commission is seeking additional information on Novo Holdings' planned $16.5 billion acquisition of pharmaceutical services company Catalent in order to examine whether the blockbuster deal passes antitrust muster, according to a Friday securities filing.

  • May 03, 2024

    Taxation With Representation: Skadden, Wachtell, Davis Polk

    In this week's Taxation With Representation, L'Occitane International said its executive director and chair is leading an offer to buy the company's shares he doesn't already own, UMB Financial agreed to purchase Heartland Financial USA, Medline said it agreed to acquire Ecolab's global surgical solutions business and The Mosaic Co. said it agreed to sell its stake in a phosphate production joint venture.

  • May 02, 2024

    7th Circ. Mostly Backs Ill. Home Health Kickbacks Judgment

    The Seventh Circuit on Thursday largely left intact an Illinois federal judge's $6 million ruling that a home health care company broke federal kickback laws, refusing to reverse the lower court's liability finding but directing it to ensure its damages award was calculated correctly.

  • May 02, 2024

    Pharma. Co. Wants Ex-Director To Stop Poaching Customers

    A pharmaceutical company has doubled down on its bid to stop a former director from soliciting customers for a rival drugmaker, saying he's trying to twist words in his contract and make up excuses for allegedly stealing trade secrets following his termination.

  • May 02, 2024

    Skin Care Drug Co. Gets OK For Ch. 11 Wind-Down Plan

    A Delaware bankruptcy judge on Thursday said she would approve the unopposed and unanimously approved Chapter 11 wind-down plans of the company previously known as Timber Pharmaceuticals Inc.

  • May 02, 2024

    Freshfields-Led Novartis Inks $1.75B Cancer Drug Co. Buyout

    Novartis AG said Thursday it has agreed to buy U.S. radiopharmaceutical company Mariana Oncology in a transaction worth up to $1.75 billion, as the Swiss pharmaceutical giant moves to bolster its precision nuclear medicine portfolio.

  • May 01, 2024

    Future Is 'Bleak' If Judge Rejects Novant Merger, Court Hears

    Novant Health on Wednesday sought to portray itself as the "last best hope" to save two struggling hospitals in North Carolina at the start of a multiday hearing in which the Federal Trade Commission is asking the court to squelch Novant's proposed $320 million merger.

  • May 01, 2024

    'Foul' BioVentrix Cash-Out Gets Extra Scrutiny, Chancery Says

    A medical device company's decision to suddenly and without explanation cash out its common stockholders for less than a penny just two months before the company raised $48.5 million in new capital creates such a "foul flavor" that it deserves extra scrutiny, a Delaware Chancery Court judge said Wednesday.

  • May 01, 2024

    Attys Say $5M Fee In Acella Settlement A Modest Proposal

    Plaintiffs' attorneys who recently reached a $46.5 million class action settlement with Acella Pharmaceuticals LLC over faulty thyroid medication asked a Georgia federal judge Tuesday to sign off on their $5 million cut of the deal as a "presumptively reasonable" proposal.

  • April 30, 2024

    Chase Can't Escape Medical Services Co.'s Defamation Suit

    A Florida federal judge refused Monday to toss a suit by a medical services company accusing JPMorgan Chase Bank NA of destroying its business by adding it to a "blacklist," canceling its transactions and falsely telling its business partners that sanctions typically applied to violators of international laws or human rights statutes caused the cancellations.

Expert Analysis

  • Fla. Foreign Real Estate Law Brings Broad Investment Risks

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    Last month, Florida became the latest state to enact legislation prohibiting Chinese investors from acquiring certain interests in real property, introducing significant legal uncertainty and consequences for real estate stakeholders and the private equity industry, say attorneys at Simpson Thacher.

  • Tackling Judge-Shopping Concerns While Honoring Localism

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    As the debate continues over judge-shopping and case assignments in federal court, policymakers should look to a hybrid model that preserves the benefits of localism for those cases that warrant it, while preventing the appearance of judge-shopping for cases of a more national or widespread character, says Joshua Sohn at the U.S. Department of Justice.

  • How Attorneys Can Help Combat Anti-Asian Hate

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    Amid an exponential increase in violence against Asian American and Pacific Islander communities, unique obstacles stand in the way of accountability and justice — but lawyers can effect powerful change by raising awareness, offering legal representation, advocating for victims’ rights and more, say attorneys at Gibson Dunn.

  • Congress Needs To Enact A Federal Anti-SLAPP Statute

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    Although many states have passed statutes meant to prevent individuals or entities from filing strategic lawsuits against public participation, other states have not, so it's time for Congress to enact a federal statute to ensure that free speech and petitioning rights are uniformly protected nationwide in federal court, say attorneys at Skadden.

  • Takeaways From New Fla. Pharmacy Benefit Manager Rules

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    A recently passed Florida law imposes several new requirements on pharmacy benefit managers, necessitating practical considerations that range from potential license application delays to possible trade secret exposure, say Thomas Range and Bruce Platt at Akerman.

  • Looking For Plausibility In FTC's Amgen Merger Challenge

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    The Federal Trade Commission is seeking to block Amgen's acquisition of Horizon, alleging that, if consummated, the deal would violate Section 7 of the Clayton Act — but this may be the first merger complaint in a generation that could be dismissed for failing to state a claim, say William MacLeod and David Evans at Kelley Drye.

  • Some Client Speculations On AI And The Law Firm Biz Model

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    Generative artificial intelligence technologies will put pressure on the business of law as it is structured currently, but clients may end up with more price certainty for legal services, and lawyers may spend more time being lawyers, says Jonathan Cole at Melody Capital.

  • A Lawyer's Guide To Approaching Digital Assets In Discovery

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    The booming growth of cryptocurrency and non-fungible tokens has made digital assets relevant in many legal disputes but also poses several challenges for discovery, so lawyers must garner an understanding of the technology behind these assets, the way they function, and how they're held, says Brett Sager at Ehrenstein Sager.

  • High Court's Ethics Statement Places Justices Above The Law

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    The U.S. Supreme Court justices' disappointing statement on the court's ethics principles and practices reveals that not only are they satisfied with a status quo in which they are bound by fewer ethics rules than other federal judges, but also that they've twisted the few rules that do apply to them, says David Janovsky at the Project on Government Oversight.

  • Time For Law Schools To Rethink Unsung Role Of Adjuncts

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    As law schools prepare for the fall 2023 semester, administrators should reevaluate the role of the underappreciated, indispensable adjunct, and consider 16 concrete actions to improve the adjuncts' teaching experience, overall happiness and feeling of belonging, say T. Markus Funk at Perkins Coie, Andrew Boutros at Dechert and Eugene Volokh at UCLA.

  • Tips For In-House Legal Leaders In A Challenging Economy

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    Amid today's economic and geopolitical uncertainty, in-house legal teams are running lean and facing increased scrutiny and unique issues, but can step up and find innovative ways to manage outcomes and capitalize on good business opportunities, says Tim Parilla at LinkSquares.

  • What Associates Need To Know Before Switching Law Firms

    Excerpt from Practical Guidance
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    The days of staying at the same firm for the duration of one's career are mostly a thing of the past as lateral moves by lawyers are commonplace, but there are several obstacles that associates should consider before making a move, say attorneys at HWG.

  • A Case For Sharing Mediation Statements With Counterparties

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    In light of a potential growing mediation trend of only submitting statements to the mediator, litigants should think critically about the pros and cons of exchanging statements with opposing parties as it could boost the chances of reaching a settlement, says Arthur Eidelhoch at Eidelhoch Mediation.