In the wake of Silvergate’s collapse, Silicon Valley Bank entering receivership and another bank following in SVB’s footsteps, startups and other companies directly affected by these events are struggling to manage their payroll and other obligations while credit facilities are frozen. Although depositors likely will be fully protected and most businesses can expect to avoid…

Patriot Capital has announced it has made a growth capital investment into Turnwell Mental Health Network.

Turnwell, based in Dallas, is an integrated mental health group that operates freestanding outpatient clinics across Arizona and Montana. Services include mental health counseling, primary care, and patient and family education.

Patriot, based in Baltimore, focuses on…

Gauge Capital has announced it has invested in Streamline Healthcare Solutions.

Streamline, based in Oak Brook, Ill., is a provider of electronic health record software primarily serving behavioral health providers and state and local departments of health. Founded in 2003, the company is the developer of the SmartCare platform and serves a range of…

Last week, the U.S. Department of Justice (DOJ) announced that Sweden-based multinational telecommunications company Telefonaktiebolaget LM Ericsson (Ericsson) will plead guilty to breaching the Foreign Corrupt Practices Act (FCPA) and has agreed to pay over $206 million in related penalties following its alleged breach of a 2019 Deferred Prosecution Agreement (DPA) with the Department.

The Centers for Medicare & Medicaid Services recently announced updates to the voluntary self-referral disclosure protocol for reporting and resolving technical violations under the physician self-referral law commonly known as the Stark Law.

Read on for details about these updates, intended to streamline the reporting process and reduce burdens on self-disclosing healthcare providers.

The Department of Justice Criminal Division announced a “Pilot Program Regarding Compensation Incentives and Clawbacks” (the “Program”) this week with broad implications for corporations and their individual executives operating within the Department’s jurisdiction. During two keynote speeches delivered at the American Bar Association’s National Institute on White Collar Crime, Deputy Attorney General Lisa Monaco (remarks here) and Assistant Attorney General Kenneth A. Polite, Jr. (remarks here), outlined the Program’s two key pillars.  First, moving forward, any corporate resolution with the Department’s Criminal Division must include a requirement that the company develop compliance-promoting criteria within its compensation and bonus system.  Second, Criminal Division prosecutors are instructed to provide fine reductions to companies who either successfully claw back compensation from corporate wrongdoers or undertake good-faith efforts to do so.

Arsenal Capital Partners has announced it has sold Airnov Healthcare Packaging to Colorcon.

Airnov, with manufacturing facilities in the United States and a few other countries, is a producer of consumables used to protect healthcare products from moisture and oxygen. The company’s products including drop-ins such as canisters and packets, integrated desiccant systems and plastic bottles…

It has been a little more than a year since Russia’s invasion of Ukraine, and the war continues to rage.  In an effort to deter the Russian government and weaken its military capabilities, the United States has imposed significant sanctions and export controls targeting Russia.  Recognizing that these sanctions and export control laws merit aggressive enforcement, the U.S. Department of Justice (DOJ) over the past year has made investigation and prosecution of violations a priority.

Thompson Street Capital Partners (TSCP) has announced it has completed a growth investment in OpenClinica.

OpenClinica, based in Waltham, Mass., is a clinical research solutions provider. Founded in 2004, the company supports biopharmaceutical companies, contract research organizations, academic institutions and government agencies.

TSCP, based in St. Louis, Mo., targets investments in middle market…