Deals & Corporate Governance
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June 10, 2025
Healthcare Deals This Week: Omada, Antares, Amplify
The healthcare industry saw a few notable deals this past week, including a much-anticipated IPO from digital health company Omada and a handful of private fundraises among startups.
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June 10, 2025
Ill. Judge Questions Standing In Biogen Antitrust Suit
An Illinois federal judge seemed skeptical Tuesday that health benefit plans accusing Biogen of impairing competition for its multiple sclerosis drug, Tecfidera, have standing to bring their lawsuit under decades-old precedent allowing only direct purchasers to recoup damages.
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June 10, 2025
23andMe Auction Is A Wake-Up Call For Data Privacy Law
With its giant trove of customer genetic and health data up for auction, direct-to-consumer genetic testing company 23andMe's bankruptcy is revealing glaring gaps in federal data privacy laws.
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June 10, 2025
Drug Cos. Face Persistent Scrutiny Over Physician Kickbacks
Drugmakers continue to become ensnared in — and settle — investigations into illegal payments to healthcare providers for participating in sham speaker programs. These payments raise ethical questions about patient harm and whether they are seen as a cost of doing business.
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June 09, 2025
AI-Powered Cancer Diagnostics Firm Targets $400M IPO
Caris Life Sciences Inc., a developer of artificial-intelligence enhanced cancer diagnostic tests, on Monday launched plans for an estimated $400 million initial public offering, represented by Latham & Watkins LLP and underwriters counsel Cooley LLP.
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June 09, 2025
Rite Aid Gets Stay Of Appeals From Its Earlier Bankruptcy
The New Jersey bankruptcy judge overseeing Rite Aid's current insolvency case pressed pause Monday on appeals of orders he entered last year in the drugstore chain's previous Chapter 11.
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June 06, 2025
Masimo Fights Ex-CEO's Bid To Ax Suit Over $450M Demand
Masimo Corp. fought back against founder Joe Kiani's motion to dismiss the company's Delaware Chancery Court suit seeking a declaration that he's not due a $450 million payout after his ouster as CEO, arguing that bid is an "improper attempt to evade" the Delaware court's jurisdiction.
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June 06, 2025
Taxation With Representation: Winston, Stibbe, Weil, Goodwin
In this week's Taxation With Representation, Chart Industries Inc. and Flowserve Corp. merge, Aedifica NV and Cofinimmo NV unite, Sanofi buys Blueprint Medicines Corp., and Kimberly-Clark Corp. sells a majority stake in its international tissue business to Suzano.
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June 05, 2025
Latham-Led Virtual Health Startup Omada Prices $150M IPO
Venture-backed virtual care provider Omada Health Inc. on Thursday priced a $150 million initial public offering within its marketed range, represented by Latham & Watkins LLP and underwriters counsel Davis Polk & Wardwell LLP.
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June 05, 2025
Elon Musk Seeks $5B For AI Startup, Amid Other Reports
Elon Musk is planning a $5 billion debt sale for his AI startup, Ontario’s pension seeks final bids for an Indian hospital system, and Merck eyes a Swiss biotech with a potential $3 billion price tag. Here's a rundown of these and other notable deal rumors from the last week.
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June 05, 2025
$1.36B Home Healthcare Deal Dropped Amid FTC Scrutiny
Healthcare solutions company Owens & Minor said Thursday that it's abandoning its $1.36 billion plan to buy home-based care business Rotech Healthcare Holdings after the Federal Trade Commission's scrutiny proved too much to bear.
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June 04, 2025
States Take Aim At Healthcare REITs
State lawmakers seeking to curb healthcare investment models they see as harmful to patients have sharpened their focus on real estate investment trusts, putting forth bills to restrict their ownership of healthcare real estate or increase oversight of such transactions.
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June 03, 2025
InnovAge To Pay $27M To Resolve IPO Investors' Suit
InnovAge Holding Corp. and a class of stockholders have agreed to a $27 million settlement to resolve claims that the senior-health care company made misleading statements in an initial public offering that later caused stock prices to tank after a government audit exposed the falsehoods.
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June 03, 2025
Latham Advises Atai In $390M Merger With Beckley Psytech
U.S.-German biopharmaceutical company atai Life Sciences, advised by Latham & Watkins LLP, said in an announcement Monday that it will acquire Beckley Psytech, led by Mayer Brown LLP and CMS Cameron McKenna Nabarro Olswang LLP, in an all-share transaction that values Beckley at approximately $390 million, creating a combined company focused on fast-acting mental health therapies.
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June 03, 2025
Stibbe, A&O Shearman Guide $13.8B Healthcare REIT Merger
Belgian real estate investment trusts Aedifica NV and Cofinimmo NV said Tuesday they have agreed to merge, forming what they said will be Europe's largest healthcare real estate investment trust, with a combined gross asset value of approximately €12.1 billion ($13.8 billion).
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June 03, 2025
Georgia Health System Selects Legal Chief As CEO
The Southeast Georgia Health System Inc. has installed its interim president and chief executive officer — who was most recently its chief legal officer — as president and CEO.
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June 03, 2025
Simpson Thacher Adds Ex-Weil M&A Pro In NYC
Simpson Thacher & Bartlett LLP announced Monday the hiring of a former counsel at Weil Gotshal & Manges LLP as a partner in its mergers and acquisitions practice in New York.
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June 03, 2025
The Law360 400: A Look At The Top 100 Firms
A rebound in client work sent the nation’s largest law firms into growth mode last year, driving a wave of hiring, mergers and strategic moves that reshaped the top tier of the Law360 400. Here's a preview of the 100 firms with the largest U.S. attorney headcounts.
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June 03, 2025
Katten Adds 4 Ex-Kirkland Attys To Healthcare Practice
Katten Muchin Rosenman LLP announced Tuesday that it has hired two partners and two associates from Kirkland & Ellis LLP to boost Katten's regulatory and transactional expertise in the firm's healthcare practice.
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June 02, 2025
Healthcare REIT, JV Pay $146M For Skilled Nursing Portfolio
Healthcare-focused real estate investment trust CareTrust REIT Inc. on Monday announced the acquisition of 10 skilled nursing facilities across the Pacific Northwest for $146 million.
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May 27, 2025
Bluebird Bio Beats Investor Suit Over FDA Cancer Warning
Massachusetts-based biotechnology company Bluebird Bio Inc. has beaten a shareholder suit accusing it of misleading investors about the likelihood of the U.S. Food and Drug Administration's decision requiring a "black box warning" on one of its products due to the cancer risk it posed.
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May 27, 2025
Pharma Co. Says Chubb Failed To Pay Covered Defense Costs
A New Jersey pharmaceutical company said Chubb owes nearly $6.5 million in outstanding defense costs related to a multibillion-dollar arbitration dispute over the manufacture of an antiviral drug, according to a suit removed to federal court Tuesday.
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May 27, 2025
Paris VC Firm Cathay Closes $1B AI Venture Capital Fund
Paris venture capital firm Cathay Innovation said Tuesday that it has closed a $1 billion fund focused on artificial intelligence investments.
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May 27, 2025
US Trustee Wants Steward Health Switched To Ch. 7
The U.S. Trustee's Office is asking a Texas bankruptcy judge to convert Steward Health Care's Chapter 11 case to a court-supervised Chapter 7 liquidation, saying the hospital chain cannot pay the bills it has run up during its bankruptcy.
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May 27, 2025
Eli Lilly Inks $1B Deal For Non-Opioid Pain-Drug Maker
Eli Lilly announced Tuesday that it has inked a potentially $1 billion deal to buy SiteOne Theraputics, giving the pharmaceutical giant access to a non-opiod pain medicine ready for phase 2 trials.
Expert Analysis
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Indivior Ruling May Affect Rebate Wall Litigation
A New Jersey federal court's recent decision in Indivior v. Alvogen, in which a claim that an alleged rebate wall anti-competitively blocked generic competition survived summary judgment, may provide a blueprint for successfully challenging other drug rebating practices, say Peter Herrick and Monsura Sirajee at O'Melveny.
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Merger Guidelines' Broad Tack Ignores Recent Precedent
The U.S. Justice Department and Federal Trade Commission's new proposed merger guidelines are consistent with the Biden administration's expansive approach to antitrust enforcement, but they fail to grapple meaningfully with much of modern economic precedent and court decisions requiring greater agency rigor in merger analysis, say attorneys at Freshfields.
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Mallory Gives Plaintiffs A Better Shot At Justice
Critics of the U.S. Supreme Court's recent decision in Mallory v. Norfolk Southern claim it opens the door to litigation tourism, but the ruling simply gives plaintiffs more options — enabling them to seek justice against major corporations in the best possible court, say Rayna Kessler and Ethan Seidenberg at Robins Kaplan.
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Courts Can Overturn Deficient State Regulations, Too
While suits challenging federal regulations have become commonplace, such cases against state agencies are virtually nonexistent, but many states have provisions that allow litigants to bring suit for regulations with inadequate cost-benefit analyses, says Reeve Bull at the Virginia Office of Regulatory Management.
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Tales From The Trenches Of Remote Depositions
As practitioners continue to conduct depositions remotely in the post-pandemic world, these virtual environments are rife with opportunities for improper behavior such as witness coaching, scripted testimony and a general lack of civility — but there are methods to prevent and combat these behaviors, say Jennifer Gibbs and Bennett Moss at Zelle.
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What's New In The DOJ-FTC Proposed Merger Guidelines
While this week's merger guidelines proposal from the Federal Trade Commission and U.S. Department of Justice initially appears to reflect well-established principles of antitrust law, a closer examination reveals a stark departure from the last 40 years of antitrust enforcement, say attorneys at Skadden.
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Tide May Be Turning On Texas Two-Step Bankruptcy Strategy
Recent developments in several high-profile bankruptcy cases suggest that the use of the Texas Two-Step to shield solvent companies from tort claims may be falling out of favor, but until the U.S. Supreme Court hears one of these cases the strategy will remain divisive and the subject of increased scrutiny, say attorneys at Rivkin Radler.
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Ways To Balance ESG Initiatives And Antitrust Risks
Since ESG policies often concern systemic issues that require collective action for meaningful results, there are potential antitrust issues that require safeguards to help mitigate risk, say attorneys at Faegre Drinker.
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Level Up Lawyers' Business Development With Gamification
With employee engagement at a 10-year low in the U.S., there are several gamification techniques marketing and business development teams at law firms can use to make generating new clients and matters more appealing to lawyers, says Heather McCullough at Society 54.
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Mallory Ruling Leaves Personal Jurisdiction Deeply Unsettled
In Mallory v. Norfolk Southern Railway, a closely divided U.S. Supreme Court recently rolled back key aspects of its 2017 opinion in Daimler AG v. Bauman that limited personal jurisdiction, leaving as many questions for businesses as it answers, say John Cerreta and James Rotondo at Day Pitney.
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Recent Provider Relief Fund Audits Are Just The Beginning
Though the Health Resources and Services Administration's initial audits of the Provider Relief Fund program appear to be limited in scope, fund recipients should prepare for additional oversight, scrutiny and disallowances as the HRSA ramps up its efforts, say Brian Lee and Christopher Frisina at Alston & Bird.
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5 Ways Firms Can Rethink Office Design In A Hybrid World
As workplaces across the country adapt to flexible work, law firms must prioritize individuality, amenities and technology in office design, says Kristin Cerutti at Nelson Worldwide.
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Bar Score Is Best Hiring Metric Post-Affirmative Action
After the U.S. Supreme Court's ruling striking down affirmative action admissions policies, law firms looking to foster diversity in hiring should view an applicant's Multistate Bar Examination score as the best metric of legal ability — over law school name or GPA, says attorney Alice Griffin.