Health Care Private Equity

Private equity investment in health care requires a thorough understanding of the complex regulatory framework that permeates the health care marketplace. With deep knowledge and experience across the health care sector, Wiggin and Dana’s Health Care Private Equity team is uniquely situated to represent private equity funds active in the sector and their portfolio companies.

Experience Across the Sector

• Wiggin and Dana’s Health Care Private Equity Practice represents private equity investors and portfolio companies on transactional matters at all levels of complexity. We are result-oriented and work together seamlessly with a practical understanding of the interests, priorities and risks involved in health care private equity transactions.
• In addition to handling transactions, we represent portfolio companies as outside counsel and can provide high level services on day to day operational issues in an efficient and cost-effective manner, informed by our working knowledge of regulatory matters and industry trends. We also represent platform companies in regional and national roll-ups. We are frequently sought out to advise private equity investors on specific regulatory issues affecting their portfolio companies and to provide ongoing regulatory advice directly to those companies.
• We have experience with for-profit and non-profit joint ventures and the special considerations that may arise out of that status. These include providers such as joint venture surgery centers, imaging facilities and dialysis facilities as well as management and service companies.
• Our health care attorneys have been retained as special regulatory counsel for private equity clients. For example:
  • Our team provides assessments of the regulatory environment in sectors of the health care industry or in specific states to inform investors on acquisition strategies and potential investment targets.
  • Given our experience in representing health care clients in government audits, investigations and regulatory enforcement proceedings, we are frequently called upon to advise clients on the risks involved when an acquisition target is currently involved in an audit, investigation or proceeding, or subject to sanctions or corporate integrity agreements.
• We have had leadership roles in landmark litigation on behalf of health care clients involving rates and reimbursement methodologies and regularly advise clients on payment and health care finance structures. We understand the flow of funds in health care and the myriad rules and limitations on these systems and methodologies.

Private Equity Experience

• Our Health Care Private Equity Practice is a collaborative team combining the firm’s health care industry group with seasoned business lawyers who have extensive experience representing private equity funds in complex transactions on the buy-side, the sell-side and in connection with strategic alliances in many different industries, including health care, biotechnology and life sciences. One of the many things that sets us apart is the fact that our team includes lawyers who understand the cross-over of health care regulatory issues with the life cycle of a deal and post-closing operations.
• Our team has represented private equity funds, family offices, asset managers and their portfolio companies in a broad range of domestic and international, middle-market transactions, throughout the investment life cycle, including acquisitions, investments and dispositions, portfolio company add-ons, leveraged buyout and going private transactions, carve-outs, equity commitments, senior and mezzanine financings, distressed investments, recapitalizations, joint ventures and exits.
• Our clients benefit from access to the firm’s other recognized practices, such as tax, antitrust, executive compensation/ employee benefits, labor and employment, real estate, environmental, intellectual property, data protection and privacy, government investigations and international trade compliance.

Health Care Industry Focus 

• Our Chambers-ranked health care regulatory team has decades of experience representing clients in all facets of health care. We represent academic medical centers, hospitals and health systems, health care investors, joint ventures, long term care and senior living providers, ambulatory surgery centers, home health care agencies and hospices, behavioral health and substance abuse providers, physician and dental practices, health research institutions, clinical laboratories, telehealth providers and health care technology companies.
• We advise private equity fund clients on a range of regulatory issues affecting investment strategies, transactions and operations, including certificate of need, licensure, Medicare and Medicaid certification and conditions of participation, the corporate practice of medicine, Stark and Anti-Kickback requirements, health care data protection and privacy.
• We have in-depth, practical knowledge and understanding of the health care industry. We are on the front lines on many health care legislative and regulatory matters at the state and federal levels through our representation of, and direct involvement in, a variety of health care industry trade associations. We have contacts with state and federal regulators, allowing us to effectively advise clients in closing transactions and managing strategic priorities.