McGuireWoods’ Oct. 30 webinar covered recent regulatory and litigation developments facing the product manufacturing, food and beverage, and retail industries.
For more details, visit our website event page.
Healthcare & Life Sciences Private Equity Deal Tracker: Ampersand and GHO Acquire Avid Bioservices for $1.1 Billion
Ampersand Capital Partners and GHO Capital Partners will acquire Avid Bioservices for approximately $1.1 billion, according to a news release.
Avid (NASDAQ: CDMO), formed in 2002 and based in Orange County, California, is a biologics contract development and manufacturing organization (CDMO) that provides services to biotechnology and pharmaceutical companies.
Ampersand, based in Wellesley,…
OIG Recommends Increased RPM Oversight
On September 24, 2024, the Department of Health and Human Services Office of Inspector General (“OIG”) published a report (the “Report), reviewing and recommending increased oversight of remote patient monitoring (“RPM”) services and billing in the Medicare program. In the Report, OIG focused on three main issues: (1) Patients and providers are not using RPM as intended; (2) RPM presents an increased risk of fraud and abuse; and (3) there is a lack of information and transparency related to enrollees’ use of RPM. Read on for additional background with regards to the growing use of RPM by Medicare providers, these three OIG findings, additional recommendations, and how regulators may respond.
Healthcare & Life Sciences Private Equity Deal Tracker: Vance Street Invests in Prince Sterilization Services
Vance Street Capital has announced an investment in Prince Sterilization Services.
Prince, based in Fairfield Township, New Jersey, is a sterilization services provider primarily focused on the pharmaceutical, biotechnology, compounding pharmacy and medical device sectors.
Vance Street, based in Los Angeles, is a middle market private equity firm that invests in several sectors,…
Slow Mergers and Sales, But Companies Perform Well, With Reed Van Gorden of Deerpath Capital
In this installment of McGuireWoods’ Corner Series podcast, partner and host Geoff Cockrell observes that seller anxiety about the potential for broken deals appears high right now. A surprising number of deals, he says, are less likely to “go out into a wider market process.”
Guest Reed Van Gorden of Deerpath Capital sees the…
Healthcare & Life Sciences Private Equity Deal Tracker: Georgia Oak Invests in T Management
By Trey Andrews
Georgia Oak Partners has announced an investment in T Management.
T Management, founded in 2005 and based in Atlanta, is a dental support organization in the Southeast.
Georgia Oak, founded in 2011 and based in Atlanta, is a private equity firm that invests in founder- and family-owned companies in Georgia and the broader…
Northern District of New York Dismisses Claim—With Prejudice—of a Bank Aiding-and-Abetting Ponzi Scheme
By Zachary Missan & Melek Dunn
O’Dell v. Berkshire Bank, 5:24-cv-00652 (N.D.N.Y.)
On October 31, 2024, the Northern District of New York dismissed a putative class action against Berkshire Bank (“Berkshire”) with prejudice.[1]
I. Facts
O’Dell involved the standard story of a Ponzi class action against a bank, in which investors lost money through a Ponzi scheme—perpetrated by a…
Healthcare & Life Sciences Private Equity Deal Tracker: Francisco Partners to Acquire AdvancedMD for $1.1 Billion
Francisco Partners (FP) has announced it will AdvancedMD from Global Payments.
AdvancedMD, founded in 1999 and based in South Jordan, Utah, is a cloud-based provider of medical office software.
FP, founded in 1999 and based in San Francisco, is a private equity firm that specializes in investments in technology and technology-enabled businesses.
Healthcare & Life Sciences Private Equity Deal Tracker: Resurgens Invests in Movemedical
Resurgens Technology Partners has invested in Movemedical, according to a news release.
Movemedical, founded in 2019 and is based in San Diego, is an enterprise software platform for medical device inventory management.
Resurgens, based in Atlanta, is private equity firm focused on investing in North American and select European lower middle market businesses with a…
Healthcare & Life Sciences Private Equity Deal Tracker: Patient Square to Invest in CorroHealth
Patient Square Capital will make a strategic investment in CorroHealth, according to a news release.
CorroHealth, founded in 2019 and based in Plano, Texas, is a provider of revenue cycle management solutions to health systems and health plans.
Patient Square, based in Menlo Park, Calif., is dedicated healthcare investment firm. Founded in…