Healthcare Private Equity

We created the Healthcare Private Equity team to combine the expertise of our nationally recognized healthcare regulatory practice with our corporate transactional practice to focus specifically on the needs of private equity funds and their portfolio companies investing in healthcare industries.

Overview

For more than 30 years, AGG’s team of healthcare attorneys has been a trusted advisor to private equity funds and their portfolio companies as they look at the legal hurdles of investing in healthcare industries. There are many obstacles to private investment in healthcare industries, from state restrictions on who can own a medical practice to HIPAA, Stark, and anti-kickback laws. We routinely advise private equity funds regarding healthcare compliance and due diligence matters in connection with the formation of new platforms, structuring complex transactions, and completing acquisitions.

The AGG Healthcare Private Equity team meets the specialized needs of private equity funds pursuing roll-up strategies within specific medical practices. We advise on more than 100 lower middle market transactions a year. Our integrated team approach leverages lean staffing and technology to deliver competitive pricing.

Experience

Representing a mid-market private equity firm in the acquisition of a medical device manufacturer.
Advised Visionary Eye Partners, an eye care practice management company backed by Imperial Capital Group, Ltd., on numerous acquisitions of eye care practices throughout the U.S. in 2018.
Represented Total ECP, an eye care practice management company backed by Imperial Capital Group, Ltd., on twenty-six eye care practice acquisitions completed since its launch in September 2017.
Represented a private equity client in its acquisition of a leading national provider of business support services to 350 dental offices in 17 states. AGG’s team worked to deliver regulatory diligence and transaction regulatory support, as well as credit facility-driven post-transaction regulatory work.
Advised a private equity client on its acquisition of a national operator of more than 100 outpatient physical therapy clinics with a strong presence in the Southeast. AGG’s role included healthcare regulatory diligence, regulatory input for the transaction documents, and interfacing with lender counsel and reps and warranties underwriters.
Served as health regulatory counsel on a private equity investor’s acquisition of a Southwest-based provider of outsourced third-party eligibility, revenue cycle management, and billing services for 300 hospitals in 33 states. Focus included compliance with Social Security disability advocacy requirements, permissibility under state law of percentage fees for billing, and the impact of the need to obtain new biller submitter IDs on the timing of closing and structure of the transaction.
Advised a longstanding private equity client on all regulatory aspects of a consensual receivership with three different operating companies in 8 states. AGG oversaw the transition of the facilities to new operators during the receivership. The affected facilities were located in Wisconsin, Minnesota, Idaho, Oregon, Washington, West Virginia, Delaware, and Pennsylvania.
Represented a private equity client in its acquisition of three ophthalmology medical practices and their associated ambulatory surgical centers.
Represented a private equity client in its acquisition of three physical therapy clinics.

Client Successes

Healthcare Private Equity Team Legal Insight
Legal Considerations for Healthcare Private Equity Firms Entering Into the Healthcare Industry

Recognition

In 2021, AGG earned a notable ranking in Datasite’s half-year pharma, medical, and biotech league table for legal advisors. AGG was the only Atlanta-based law firm represented in this league table, ranking fourth by deal volume with 29 deals with a disclosed value of $220 million.

This ranking adds to the individual recognition that AGG’s Healthcare Private Equity industry team co-chairs and partners, Matt Brohm and Jeff Friedman, received in Mergermarket’s inaugural individual league table for M&A lawyers.