Executing strategic priorities in the face of heightened scrutiny

Healthcare is changing fast. To stay ahead of the curve, key players across its ecosystem are pursuing strategic mergers, sales, acquisitions, and joint ventures to drive growth and improve patient care. But collaborative partnerships among competitors are gaining intense attention from regulators across the board. We’re here to help healthcare providers, hospitals and health systems, health technology companies, payors, and investors anticipate, prevent, and defend against potential antitrust challenges in the face of ever-increasing scrutiny.

Healthcare Antitrust Transactions

From M&A and private equity investments to joint ventures and strategic alliances, transactions in healthcare face a higher level of complexity and regulatory scrutiny than most. And as private equity becomes increasingly invested in healthcare, regulators across state and federal agencies – including the DOJ, FTC, state attorneys general, and other antitrust agencies, such as the European Commission – are taking notice and action. That’s why we deliver solutions informed by a deep knowledge of the complex rules and regulations and strategic challenges impacting healthcare transactions to protect your interests and maximize opportunity.

We combine extensive antitrust knowhow and unmatched PE and M&A transaction experience in a way no other firm can to help you navigate dealmaking in this dynamic landscape. For the last 14 years in a row, we have handled more M&A deals worldwide than any other law firm and advised on the most global healthcare private equity deals in 2023. We know how to tackle complex regulatory challenges while balancing investment goals in line with trends we see internationally. Beyond closing, we routinely advise portfolio companies, providing peace of mind to investors that their portfolio companies are receiving sound regulatory advice with an eye toward mitigating future risks.

Healthcare Antitrust Lawyers

Our integrated team includes seasoned antitrust lawyers that structure transactions to stand up against aggressive merger enforcement in the healthcare space. These lawyers work in federal and state courts across the country and globally and frequently represent clients before the FTC, the Antitrust Division of the Department of Justice, state attorneys general, the European Commission, and national regulators across the globe. Antitrust agencies globally are part of the International Competition Network and coordinate cases between them making an international team of antitrust lawyers imperative.

With a deep bench of former high-ranking enforcers from federal and state antitrust agencies and experienced trial lawyers that have litigated complex governmental and private antitrust cases, we maintain strong relationships with regulatory authorities around the world, which enables us to anticipate what is on the horizon and help clients seize opportunities and minimize down-side risk.

Changing Healthcare Antitrust Regulations

Beyond the objectives of a specific deal, we understand that strategic transactions are a critical piece of long-term business plans. And as healthcare continues to evolve, forward-looking insights on how decisions in Washington and internationally impact your current and future business objectives are critical to your resiliency and success. That’s why our health policy strategic consulting team provides key intelligence and strategic advice for navigating the evolving regulatory, funding, political, and policy landscapes to create roadmaps for growth in unprecedented times.

Navigating restrictions: State and federal scrutiny of private equity investment and corporatization of healthcare webinar

Experience

A leading provider of medical device sterilization services, in successfully defending against an FTC challenge to its merger with one of its two global competitors. Following a nine-month investigation, extensive discovery, and an evidentiary preliminary injunction hearing, the court denied the FTC's challenge, allowing the transaction to close without remedies.
ICV Partners, a private equity investment firm focused on lower middle market companies, in its acquisition of Urgent Care Group and subsequent merger with portfolio company Total Access Urgent Care, creating an organization operating more than 50 healthcare clinics across four states.
One of the largest private health insurers in Pennsylvania, in the FTC's antitrust challenge to the proposed merger of Hackensack Meridian Health and Englewood Health. The precedent-setting litigation helped shape the application of the Horizontal Merger Guidelines, efficiencies defenses, and standards for rebutting alleged anticompetitive effects.
A leading New England health system, in a high-profile antitrust merger investigation conducted by the Federal Trade Commission and the Rhode Island Attorney General concerning a proposed healthcare transaction.
Pieper-Olson Veterinary Hospital, Inc., a Connecticut-based veterinary hospital network operating as Pieper Veterinary Hospital, in its acquisition by Chicago Pacific Founders, a healthcare-focused private equity firm.
Unio Health Partners, a physician practice management platform backed by Triton Pacific Capital Partners, in its partnership with inSite Digestive Health Care, expanding the organization to 182 providers across 54 locations throughout California
Starling Physicians, a leading primary care and multi-specialty physician group in Connecticut, in its sale to VillageMD, a national provider of primary and integrated healthcare services.
Hematology Oncology Consultants, a provider of cancer and blood disorder treatment services, in its acquisition by Integrated Oncology Network, a provider of oncology practice management, advisory, and development services.
Collage Rehabilitation Partners, a provider of post-acute neurological rehabilitation services, in its leveraged buyout of Tree of Life Services, a provider of long-term supported living services for individuals with acquired brain injuries.
A not-for-profit, faith-based healthcare system, in the FTC investigation and litigation relating to its proposed acquisition of a hospital.
A major health system, in a strategic combination reviewed by the Federal Trade Commission, which closed its investigation without taking enforcement action after evaluating horizontal overlap, cross-market theories, and labor market considerations.
A health technology company, as a non-party witness in the DOJ's investigation and litigation challenging its proposed acquisition by a subsidiary of a healthcare services company, successfully securing removal from the trial witness list and preventing its documents from becoming public trial exhibits.
A major Texas hospital system, in obtaining antitrust clearance following an FTC investigation of a strategic laboratory outsourcing arrangement.