New State Capital Partners has announced it has acquired Agility Recovery Services.
Agility, based in Atlanta, is a provider of business continuity and disaster recovery services for healthcare organizations and customers in other sectors. Founded in 1989, Agility’s subscription-based services include access to backup power, temporary office space, network connectivity, and backup technology and equipment.
This Week in Washington: House Energy and Commerce subcommittees look at role of AI and CDC respiratory disease preparedness; FDA releases final rule on prescription drug advertisements.
Congress
House
House Energy and Commerce Committee Oversight and Investigations Subcommittee Holds Hearing on CDC Respiratory Disease Preparedness
On Nov. 30, the House Energy and Commerce Committee Oversight
By Jeffrey D. Brooker, J.D. Costa, Jon W. Finger, Richard S. Grant and Gregory P. Hawver
McGuireWoods’ Independent Sponsor Conference in Dallas drew more than 1,500 independent sponsors and capital providers from 47 states and the District of Columbia and eight countries. Attendees gathered to network, learn and share insights.
Read on for key takeaways
In United States v. Regeneron, the District of Massachusetts Court recently joined the Sixth and Eighth Circuits in requiring the government to show a direct tie between kickbacks and referrals that proximately caused claims to federal healthcare programs to prevail in Anti-Kickback Statute (AKS) and False Claims Act (FCA) actions. The District Court’s ruling contributes to the growing split between the Third Circuit, which requires a mere causal connection between kickbacks and referrals, and the Sixth and Eighth Circuits, which require but-for causation between the kickback and the federal claim. This split relates to the per se fraud clause added to the AKS in 2010, which provides “a claim that includes items or services resulting from a violation of this section constitutes a false or fraudulent claim” for purposes of the FCA. The specific causal connotation of the language “resulting from” is the core of the debate between circuits.
Gauge Capital has announced it has invested in East Coast Institute for Research (ECIR).
ECIR, founded in 2007 and based in Jacksonville, Fla., is a clinical research site management organization focused primarily on the cardiovascular and metabolic therapeutic areas. The company has sites across northern Florida and Georgia.
Gauge, based in Southlake, Texas,
The Corporate Transparency Act (“CTA”) was enacted in 2021 as part of the Anti-Money Laundering Act of 2020. The CTA requires certain business entities (“Reporting Companies”) to report beneficial ownership information (“BOI”), and, for entities created or registered on or after January 1, 2024, information with respect to any individual who directly files the document creating the Reporting Company (“Company Applicant”), to the U.S. Department of Treasury’s Financial Crimes Enforcement Network (“FinCEN”).
A large damage award serves as a significant reminder to file an appearance in a False Claims Act (FCA) case.
In late August of 2022, the Government filed suit against AZ Diabetic and the owner, Hisham Zaghal (Zaghal), in the Eastern District of Virginia, alleging violations under the False Claims Act (FCA), stemming from over $600,000 in reimbursement claims related to prescriptions that AZ Diabetic illegally purchased. After AZ Diabetic failed to file an appearance, the Government moved for default judgment, which was entered by the Court. As a result, AZ Diabetic was liable for just over $12 million in civil penalties and treble damages under the FCA for violations of the Anti-Kickback Statute (AKS).
After an active 2022, this year has seen a shift in the professional practice model space, with new challenges around the cost of capital, pricing and labor. Some who raised a lot of capital in 2022 will still be looking for deals, while others will focus on valuation and financial performance.
On this episode of
GTCR has announced it will acquire Cloudbreak Health from UpHealth for $180 million.
Cloudbreak, based in Columbus, Ohio, is a provider of healthcare-focused language interpretation services. Founded in 2003, the company’s core offering is Martti (My Accessible Real-Time Trusted Interpreter), a video remote interpretation solution designed to connect patients with interpreters in over 250
On Nov. 17, the IRS and Treasury Department released long-awaited proposed regulations for the Section 48 investment tax credit. Representing the first update to these regulations since 1987, they provide instructions reflecting new statutes under the Inflation Reduction Act of 2022, incorporate previous legislative changes and formally adopt administrative guidance the energy market has used