On October 13, 2022, the Board of Governors of the Federal Reserve System (“Board”) announced multiple enforcement actions against former employees of several financial institutions because the former employees made false statements to obtain economic injury disaster loans and grants from the U.S. Small Business Administration (“SBA”) or paycheck protection loans from SBA-approved lenders.  The loans and grants were made available to small businesses who were suffering from the impact of COVID-19 and needed emergency financial assistance authorized by the Coronavirus Aid, Relief, and Economic Security (P.L. 116-136, the “CARES Act”). 

NovaQuest Private Equity (NQPE) has invested in Bend Bioscience, according to a news release.

Bend Bioscience, based in Bend, Ore., is an early-phase contract development and manufacturing organization (CDMO). Founded in 2021, the company specializes in particle engineering, drug delivery, drug development and manufacturing to the pharmaceutical industry.

NQPE is a private equity…

The Consumer Financial Protection Bureau’s recent guidance on withholding transcripts from students with debts revealed that the CFPB is using a broad definition of “private education loan” that may apply to the practices of some not-for-profit schools. Additionally, while the CFPB characterized this practice as “abusive,” its analysis suggests that these practices may also be…

TPG Capital has completed its acquisition of ClaimsXten, Change Healthcare’s claims editing business, from UnitedHealth for $2.2 billion, according to news reports.

The sale of ClaimsXten follows UnitedHealth’s acquisition of Change Healthcare. This transaction was placed on hold after the U.S. Department of Justice sued to stop it. Last month, a federal judge ruled…

The Vistria Group has announced it has invested in Flores & Associates.

Flores, based in Charlotte, N.C., is a provider of benefit technology solutions and administrative services to employers throughout the United States. Founded in 1986, the company is an administrator of employer-sponsored reimbursement plans, including flexible spending accounts, health savings accounts and health reimbursement…

HCAP Partners has announced it and Baymark Partners have invested in DFW Neuropathy.

DFW Neuropathy, based in North Texas, is a neuropathy treatment company. Founded in 2010, the company specializes in combination electroanalgesia treatment intended to heal or reverse peripheral neuropathy.

HCAP Partners, based in San Diego, is a private equity firm that…

Great Point Partners (GPP) has completed a growth investment in iXCells Biotechnologies, according to a news release.

iXCells, based in San Diego, is a provider of cell-based products and discovery services to the academic, biotech and pharmaceutical communities worldwide. Founded in 2014, the company focuses on primary and induced pluripotent stem cell-derived cellular…

Compliance with out-of-state investigative requests, like warrants, just got a little trickier for some California-based companies.

Read on for details and implications of a new California law that, among other things, prohibits technology and communications companies based in the state from providing user data to out-of-state authorities investigating abortions that would be legal under California