On February 23, 2023, the Supreme Court of the United States ruled in Helix Energy Solutions Group, Inc. v. Hewitt, that even highly compensated individuals are subject to the overtime requirements of the FLSA unless they are paid on a salary basis. Below are details of this ruling and the impact it may have on employers.
Healthcare & Life Sciences Private Equity Deal Tracker: Hughes & Co. Invests in Voluware
Hughes & Co. has completed an investment in Voluware, according to a news release.
Voluware, based in Huntington Beach, Calif., is a provider of cloud-based workflow and automation solutions for administrative healthcare transactions. Founded in 2011, its VALER platform is designed to help complete prior authorizations, eligibility verification and referrals document management.
BPOC Closes New Fund With $425 Million
BPOC has announced it has established a new continuation fund with $425 million.
The continuation fund consists of healthcare services companies previously held by BPOC Fund IV. The transaction was co-led by investment funds affiliated with Apollo S3, Blackstone Strategic Partners and Five Arrows.
BPOC, based in Chicago, seeks control and minority equity…
Healthcare & Life Sciences Private Equity Deal Tracker: CNL Acquires TacMed Solutions
CNL Strategic Capital has announced it has acquired a majority equity stake in TacMed Solutions.
TacMed, based in Anderson, S.C., designs, develops and manufactures medical products that equip, train and protect professionals in pre-hospital, emergency trauma situations. Founded in 2003, the company’s products include emergency response technology, simulation solutions and training aids.
FTC MUSA Labeling Rule Enforcement
The Federal Trade Commission (FTC) issued its Made in USA Labeling Rule on August 13, 2021 (the “Rule”), which has led to significantly increased enforcement in the area. Since then, the FTC has taken actions to enforce the Rule against certain companies. Below is background on the Rule itself, links to enforcement actions taken by the FTC thus far, and key takeaways for companies that market and label their products as Made in USA.
Notable Litigation – March 2023
Notable litigation filed during March 2023 includes: (1) SEC v. Woodard; (2) SEC v. Kaplan; (3) James Bay Resources Limited, et al. v. Lockett & Horwitz, et al.; (4) Miklos v. McNamara, et al.; and (5) Scura, et al. v. Heppner, et al.
SEC v. Woodard, Civ. No. 1:23-cv-00112 (D.
Iowa Joins Data Privacy Vanguard
On March 29, 2023, Iowa became the latest in a small but growing number of states to enact comprehensive data privacy legislation. Like its counterpart laws in California, Connecticut, Colorado, Utah and Virginia, Iowa’s data privacy law – formally titled “An Act Relating to Consumer Data Protection, Providing Civil Penalties, and Including Effective Date Provisions” (“IDPL”) – provides a detailed framework regulating the collection and use of consumer personal data, and affords consumers various rights as to data collected about them. Fortunately, many of the requirements imposed by the IDPL, which goes into effect on January 1, 2025, are largely similar to those applicable in the other five states, and especially those in Connecticut, Colorado, Utah and Virginia.[1]
Healthcare & Life Sciences Private Equity Deal Tracker: Eir Partners Acquires Gifthealth
Eir Partners has acquired a majority stake in Gifthealth, according to a news release.
Gifthealth, based in Columbus, Ohio, is pharmacy software company. Founded in 2020, the company’s solution is designed to improve patient access to more affordable medications.
Eir, based in Miami, is a healthcare-focused private equity firm. Founded in 2015, Eir’s targeted…
How Increased Demand Is Driving Interest in Women’s Health Investing
The women’s health sector is a diverse subset of businesses covering multiple specialties, including fertility and ancillary services.
On this episode of The Professor’s Corner, McGuireWoods lawyer Kayla McCann Marty joins partner and host Geoff Cockrell to discuss women’s health investing — from models like de novo growth and acquisitions to regulatory compliance issues and…
Supply Chain and Logistics 101 for Retailers and Consumer Brands
In the wake of the COVID-19 pandemic, the supply chain crisis has evolved into a contentious issue that has captured the attention of both consumers and retail businesses. Specifically, there has been a significant emphasis on challenges related to international ocean transportation. Within the supply chain, ocean container transport plays a crucial role for retailers and consumer brand businesses. However, this aspect of the supply chain is characterized by a complex set of technical jargon, regulations, and fees that are imposed on companies importing and exporting goods to and from the United States, which can be both confusing and challenging.