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Healthcare
Mid-Market Transactional Counsel
Waller Lansden represents clients in acquisitions and divestitures and the commercial finance aspects of healthcare operations and properties ranging from single-facility operations to publicly listed companies. The majority of healthcare transactions across the country each year involve asset values of less than $200 million, but smaller operations and lower valuations do not reduce the complexity or risks of these transactions. The regulatory concerns in joint ventures and investments by physicians or combinations of for-profit and not-for-profit entities are complex and nuanced. Waller Lansden is ideally suited to manage the risk and provide transactional advice to portfolio companies with acquisition and/or syndication strategies in mid-market transactions, including smaller-scale deals or transactions involving distressed healthcare assets. Regardless of size, we are able to complete transactions with experienced, cost-effective counsel, to ensure that the transaction is not overwhelmed by legal fees.
Special Healthcare and Regulatory Counsel
Proper management of risk in a healthcare transaction requires sophisticated legal advice. Waller Lansden's regulatory, transactional and commercial finance attorneys provide this legal advice to investors and their transactional counsel by serving as Special Healthcare and Regulatory Counsel on investment and exit transactions.
Our extensive experience in the investor-owned healthcare sector allows us to quickly assess the healthcare regulatory issues and related risk exposure of a target company. Our role as Special Healthcare and Regulatory Counsel minimizes the possibility that the financial performance or operations of a target will be hindered by prior violations or embedded regulatory complications. Our services, based on our extensive experience in healthcare transactions, are tailored to the needs of the client and its primary deal attorneys. Depending on the target's market sector and compliance history, Waller Lansden’s services range from focused regulatory and tactical advice to comprehensive healthcare compliance audits, due diligence review, and drafting assistance. Waller Lansden works closely with lead counsel on diligence, documentation, closing, and the regulatory-approval process. On the sell-side, Waller Lansden prepares portfolio companies for liquidity events by identifying and proposing solutions for existing, and often hidden, healthcare regulatory and licensure issues before they arise in the due diligence process, affect valuation or impair deal timing.
Portfolio Company Operations and Growth Strategy Counsel
Waller Lansden's nationally recognized healthcare attorneys can advise portfolio companies on all aspects of their operations. Whether a company has extensive in-house compliance expertise or outsources the majority of these legal needs, Waller Lansden is well placed to assist. Waller Lansden’s experience ranges from full-service facility operations advice – including analysis of fraud-and-abuse implications, payment concerns, insolvency crises, reimbursement and other compliance matters, and privacy and medical staff issues – to structuring joint ventures and other investments in order to implement strategic growth plans. In addition to operational advice, Waller Lansden monitors emerging trends in the healthcare sector in order to keep our clients abreast of the issues affecting their business, including proprietary research such as our research on outsourcing trends in the healthcare industry, published in the December 2006 issue of HealthLeaders.
Risk Management
Waller Lansden has extensive experience in resolving disputes that arise from, or affect, healthcare operations. Our industry experience allows us to avoid many of the regulatory problems that can otherwise arise out of the litigation that healthcare providers face, and we have extensive experience in specific areas of concern to healthcare providers: licensure, credentialing and peer review, outsourcing, government investigations, qui tam actions, and deal-specific disputes (such as working-capital and indemnification conflicts). Our healthcare regulatory attorneys work as a team with our litigators to resolve complex matters for our clients as efficiently as possible, with minimal exposure for our clients.
Corporate Restructuring and Bankruptcy Reorganization
Waller Lansden frequently assists clients in healthcare insolvencies, and has played a central role in numerous high-profile healthcare bankruptcies across the country, including the bankruptcies of public companies such as PhyCor, Inc. (filed in New York) and national cancer provider Response Oncology (filed in Memphis, Tenn.). Other examples include Intrepid Healthcare (filed in Minneapolis), the largest home health bankruptcy filed in 2005, and PhyAmerica Physician Services (filed in Baltimore). Our attorneys provide practical advice to clients to reach solutions for multi-party, complex financial problems, including divestitures and restructurings, and we help clients navigate the dangerous straits of insolvency and fiduciary liabilities. Our attorneys also focus on helping asset and debt purchasers locate and then acquire distressed healthcare assets, including assets in the senior living, hospital and ancillary healthcare services industries.
Waller Lansden’s healthcare experience includes the following industry segments:
- Acute Care Hospitals
- Psychiatric Facilities
- Surgery Centers
- Hospice and Home Health
- Senior Living
- Dialysis
- Dental
- Retail Healthcare
- Catheterization Labs
- Sleep Centers
- Diagnostic Imaging Centers
- Cancer Treatment Centers
- Outsourcing Services
- Physician Practice Management
- Medical Technology
- Pharmaceutical Services/Biopharmaceutical
- Healthcare-related Private Equity/Financing
- Healthcare-related REITS
- Healthcare-related Indenture Trustees
- Healthcare-related Insolvencies
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