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Last fall, privateequity and hedge fund investors were given a reprieve from the prospect of increased oversight of healthcare transactions when California Governor Gavin Newsom unexpectedly vetoed Assembly Bill 3129 (AB 3129). By: Husch Blackwell LLP
antitrust regulators, particularly the Federal Trade Commission, have been stepping up scrutiny of privateequity investments in healthcare. On March 5, the FTC, along with the U.S. Department of Justice and the U.S.
As we begin 2024, we have highlighted the issues and trends that privateequity (PE) investors should consider when evaluating transactions in the healthcare sector. W ith various headwinds resulting in down volume in 2023, buyers and sellers alike find themselves asking whether 2024 will see a rebound in deal activity.
Investment in the healthcare industry requires careful consideration, as it involves numerous distinct areas of the law. Venable's PrivateEquity Investment in Healthcare webinar series explores the unique issues and timely developments that shape deals within the industry. By: Venable LLP
Privateequity sponsors can exhale: A federal court recently stopped the Federal Trade Commission's (FTC) antitrust action that targeted privateequity sponsor Welsh, Carson, Anderson & Stowe for the healthcare "roll-up" strategy of its anesthesia practice management portfolio company. Anesthesia Partners, Inc.
At the end of last year, Holland & Knight predicted that "the current enforcement environment will continue into 2024 and will focus heavily on the healthcare industry, along with privateequity transactions or 'roll-ups.' 15, 2023.)
Driven by a growing wave of enforcer skepticism toward further healthcare consolidation, some state legislatures have begun to propose “mini-HSR” laws explicitly targeting healthcare transactions involving privateequity firms or sponsors. By: Morgan Lewis
The California Legislature recently passed Assembly Bill 3129 (“AB 3129” or the “Bill”), which, if signed by California Governor Gavin Newsom, would increase oversight of healthcare entity transactions involving privateequity investment. Governor Newsom has until September 30, 2024, to sign or veto the Bill.
Over the last decade, privateequity firms have acquired healthcare companies, hospitals, and clinics at an increasing rate. In fact, in those ten years, privateequity firms have spent roughly $1 trillion on an estimated 8,000 healthcare deals. This trend is only expected to increase through 2024.
McGuireWoods recently held its 20th Annual HealthcarePrivateEquity and Finance Conference (HCPE Conference) in Chicago. The premier, two-day conference held May 8-9, 2024, provided content-rich programming that explored the economic and legislative environments, approaches for.
State legislatures across the country are beginning to consider and debate the pros and cons of passing laws aimed at regulating privateequity’s role in the healthcare industry. Originally published in The Journal Record - October 10, 2024. By: McAfee & Taft
healthcare industry has weathered the storm over the past couple of years, we may be reaching calmer waters in the coming months. privateequity investors has reached an all-time high, and with capital on the sideline ready to deploy, pressure to get deals done is on the rise. Although the U.S. Dry powder held by U.S.
As some packed the skis and headed to their favorite slopes this winter season, it is hard not to see the analogies to the healthcareprivateequity (PE) transaction market as we ring in the New Year. Much like the Northern Rockies, there should be plenty of dry powder to support a robust dealmaking environment in 2025.
Privateequity acquisitions in healthcare will likely face increased scrutiny from multiple federal departments, as well as from state antitrust enforcement officials. By: Mayer Brown
Privateequity (PE) investment in the U.S. healthcare sector faces a complex and evolving regulatory and legislative landscape. Both federal and state authorities are intensifying scrutiny of PE investment, driven by concerns about market consolidation, quality of care, corporate profiteering and lack of financial transparency.
Gavin Newsom vetoed a controversial bill that would have restricted privateequity and hedge fund healthcare transactions in the state. On Saturday, September 28, California Gov. By: Fenwick & West LLP
2871, An Act Enhancing the Health Care Market Review Process (the Bill), to increase oversight of healthcare transactions involving privateequity firms, real estate investment trusts, and management services organizations (MSOs). On July 18, 2024, the Massachusetts Senate passed S.
A recent wave of state legislation is changing the course of healthcare transactions, and organizations (particularly privateequity-backed organizations) that engage in mergers and acquisitions in the healthcare industry should prepare for increased scrutiny. By: BakerHostetler
Among various other healthcare market oversight enhancements, the Act expands the authority of the Massachusetts Attorney General, Center for Health Information and Analysis (CHIA), and Health Policy Commission (HPC) to review and gather data regarding privateequity investment into healthcare providers and healthcare management companies.
On August 31, the last day of its 2024 Legislative Session, the California Legislature approved Assembly Bill 3129 (Wood), which provides for notification to and review by the Attorney General of health care transactions involving privateequity groups and hedge funds.
California’s Senate Appropriations Committee will hold a hearing on California’s privateequity bill, AB 3129, on August 15, 2024. This proposed legislation would expand existing California Attorney General authority to include review and approval authority over most healthcareprivateequity transactions.
The Bill, if enacted, would have imposed new notice and consent requirements for privateequity investors involved in healthcare transactions. On September 28, 2024, California Governor Gavin Newsom vetoed California Assembly Bill 3129 (the Bill). By: Robinson+Cole Health Law Diagnosis
On March 5, the FTC convened a workshop with regulators, academics and stakeholders to discuss the impact of privateequity in the healthcare market. The workshop reflects the FTC and DOJ Antitrust Division’s recent focus on privateequity and serial roll-up transactions more broadly as targets for antitrust enforcement.
The bill seeks to strengthen oversight of privateequity investment within Massachusetts healthcare sector and enforce stricter penalties for noncompliance with reporting requirements and the state False Claims Act (FCA). 5159), and Governor Maura Healey signed it on January 8, 2025. By: McDermott Will & Emery
Department of Health and Human Services’ (together the “Agencies”) request for information regarding consolidation in healthcare by privateequity. Department of Justice, and the U.S. By: Sheppard Mullin Richter & Hampton LLP
From the West Coast Healthcare Desk is an ongoing series of Holland & Knight Healthcare Blog articles and alerts focused on healthcare industry developments and points of interest in the West Coast healthcare marketplace.
AB 3129 would establish a mandatory approval process for a broad range of healthcare-related transactions involving privateequity funds and hedge funds, giving the California Attorney General (“CA AG”) broad authority to block or impose restrictions on transactions to protect public interest.
WindRose Health Investors has announced its acquisition of CardioOne. CardioOne, founded in 2023 and based in Houston, is a management services partner and technology platform designed for independent cardiology practices. By: McGuireWoods LLP
California’s AB 3219, which would require privateequity firms and hedge funds to obtain prior approval to consummate certain healthcare-related transactions, is now one step closer to becoming law following the State Assembly’s May 22, 2024 passage of the pending legislation.
Episode 12: Exploring Consolidation and PrivateEquity Investment in Physician Practice Management - In this episode of BRight Minds in Healthcare Delivery, host Eric Tower interviews Robert Aprill, a partner at Physician Growth Partners. By: Blank Rome LLP
3129 (AB 3129), which would have required privateequity groups and hedge funds to obtain the Attorney General’s written consent at least 90 days prior to acquisitions or changes of control of certain health care facilities, provider groups, and other providers. On September 28, 2024, Governor Newsom vetoed Assembly Bill No.
Nautic Partners has acquired Proud Moments ABA from Audax PrivateEquity, according to a news release. Proud Moments, founded in 2014 and based in Brooklyn, New York, is a national provider of applied behavioral analysis (ABA) therapy to children and young adults with autism spectrum disorder. By: McGuireWoods LLP
13, 2023, the White House announced new efforts to lower healthcare and prescription drug costs, issuing a detailed Fact Sheet. Two of the initiatives focus on privateequity investments in healthcare. White House and Agency Initiatives - On Dec. By: McGuireWoods LLP
Machinify, founded in 2016 and based in Palo Alto, California, is a provider of artificial intelligence (AI)-powered software focused on healthcare claims and payments. New Mountain Capital has announced it will acquire Machinify. By: McGuireWoods LLP
A recent government initiative announced on March 5, 2024 signals that more antitrust scrutiny for privateequity firms and asset managers is on the horizon. By: Paul Hastings LLP
Deal volume across the healthcare industry generally appears to have steadied despite headwinds. The general sentiment is that buyers have adapted to the current interest rates and are gritting their teeth and pressing forward—especially privateequity (PE) investors who need to deploy their “dry powder.”.
WBA (NASDAQ: WBA), based in Deerfield, Illinois, is an integrated healthcare, pharmacy and retail company. Sycamore Partners will acquire Walgreens Boots Alliance (WBA), according to a news release. By: McGuireWoods LLP
Episode 7: Exploring the Role of Operating Partners in PrivateEquity In this episode of BRight Minds in Healthcare Delivery, Donna Cooper joins host Eric Tower for a conversation about her career and how her prior experience has influenced her current role as an operating partner. By: Blank Rome LLP
Triton Pacific Healthcare Partners has announced the closing of its sale of BioMatrix Specialty Infusion Pharmacy to Frazier Healthcare Partners. BioMatrix, founded in 2001 and based in Plantation, Florida, is a provider of specialty infusion services in the United States. By: McGuireWoods LLP
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