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Healthcare Investors

Overview

Waller has extensive experience in structuring complex healthcare financings and acquisitions involving private equity, venture capital and angel investors, as well as serving as special healthcare regulatory and compliance counsel on investment transactions.

We provide our healthcare investment clients with a fully integrated and multi-disciplinary team blending the expertise and experience of dozens of transactional, regulatory and compliance attorneys. Our clients choose us to assist in their equity investment transactions because of our broad healthcare industry knowledge and experience with the legal issues that affect such entities. As special counsel or as lead deal counsel, we guide clients through the following phases that influence the structuring and negotiating of leveraged acquisitions, venture capital and growth financings:

  • Payment and reimbursement
  • Fraud and abuse
  • Intellectual property
  • State licensure
  • Regulations
  • Dispositions of investments through sales, public offerings, and recapitalizations
  • Platform-company acquisitions (and dispositions)
  • “Bolt-on” acquisitions
  • Portfolio companies
  • Internal and government investigations
  • Comprehensive due diligence
  • Exploration of key issues and regulatory risks

Given our history in serving large healthcare companies and investors, we’ve built an extensive network and are able to unite companies looking to raise capital with investors seeking opportunities. We regularly help investors identify potential companies in which to invest and assist high growth companies in achieving their funding goals. Because our experience representing both investors and companies raising capital, we have the ability to develop creative solutions to the complex challenges inherent in capital transactions.

Experience

Waller has served as transactional and healthcare counsel to private equity firms in a wide range of acquisitions, investments, and dispositions including:

  • The recapitalization of the leading dental practice management company in the New England region
  • The acquisition of two laser vision correction companies to form a platform company for the acquisition of eye care and surgery practices throughout the United States and Canada
  • The acquisition of a provider of adult day care services at 70+ facilities across the United States
  • The sale of a physician practice management company focused on dermatology and cosmetic surgery
  • The acquisition of two OB/GYN practices and the formation of the largest women’s health practice in the United States
  • An investment in an operator of both wholly-owned centers and joint ventures with hospital partners
  • The recapitalization of a provider of gastrointestinal care provider 
  • The recapitalization of a urology physician practice management company 
  • The acquisition of a provider of addiction treatment services at residential and outpatient facilities 
  • An investment in a healthcare information technology company that provides internal and external health data integration services to hospitals, radiology centers, laboratories and clinics
  • The purchase of a majority ownership position in a nationally recognized residential treatment provider
  • The sale of dental support organization to another private investment firm
  • The recapitalization of a wound management company
  • The sale of an institutional pharmacy provider to a publicly traded company
  • The acquisitions of a home health agencies and hospice care provider by portfolio companies 
  • The acquisition of a therapeutic boarding school 
  • The recapitalization of a healthcare technology company providing network management, claims integrity and electronic payment services,
  • The roll-up of dermatology practices in the Southeast.
  • The sale of institutional pharmacy provider to a leading publicly traded provider of pharmaceutical care for the elderly

Additional healthcare private equity experience includes:

  • Transactional and healthcare counsel to Passport Health Communications, Inc., in its recapitalization by Spectrum Equity Investors, Great Hill Partners and Primus Capital Funds, the acquisition of a California-based HIT company, and Passport’s subsequent $850 million sale to Experian plc
  • Transactional and healthcare counsel to publicly traded Symbion Inc. in its going-private recapitalization by Crestview Partners, and its subsequent $792 million acquisition by Surgery Center Holdings Inc., a portfolio company of H.I.G. Capital, LLC
  • Transactional and healthcare counsel to a dermatology services company in raising $31.8 million in capital from private equity investors
  • Transactional and healthcare counsel to Parthenon Capital in its investment in Stratose, Counsel for Huron Capital Partners LLC in the private equity firm’s investment in Dynamic Dental Partners which was recognized as the 2013 M&A Deal of the Year ($25mm to $50mm) at the 12th Annual M&A Advisor Awards
  • Lead counsel to Lone Peak Management, a multi-state pediatric dental-focused DSO, in its January 2017 sale to Tailwind Capital
  • Company counsel to Marquee Dental Partners in the company’s formation with a $35 million capital commitment from Chicago Pacific Partners, and transactional and healthcare counsel to Marquee in its subsequent affiliation with a multi-specialty dental practice with seven locations
  • Lead counsel to OrthoSynetics in its 2016 sale to a private equity fund, and affiliations and acquisitions involving over 300 orthodontic and pediatric dental practices
  • Transactional and healthcare counsel to manufacturer of mobile carts and workstations for hospitals and healthcare facilities in its recapitalization by a Boston-based private equity firm
  • Transactional and healthcare counsel to Blue Sea Capital in its growth capital investment in Deca Dental Group, LLC, a dental support organization with more than 30 affiliated practices, and preparation of related management services agreements