Daria Niewenhous will speak in the The American Bar Association webinar, "Challenges in the World of Hospital Mergers: The Hurdles of For-Profits Acquiring Non-Profits."
The recent acquisition of individual hospitals and health systems by for-profit entities may indicate a growing trend. However, when a nonprofit sells its assets to a for-profit, additional legal complexity results. In addition to the regulatory review by state departments of health in connection with hospital transfer of ownership, such non-profit conversions are generally subject to review and approval by the various state attorneys general offices (whether formally or through the attorney general’s recommendation to an appropriate state court).
This presentation will focus on issues counsel must address when guiding clients through these transactions, including:
- Crafting seller’s RFP to include any post-closing conditions (or types of conditions) that seller considers an essential part of the transaction;
- Drafting an effective purchase agreement; negotiating with buyer, the attorney general, and the state health department regarding conditions of the sale that effectively maintain certain charitable or community benefit obligations, or secure the buyer’s commitment to maintain facilities or programs for a defined post-closing period;
- Managing the public notice/hearing and comment period; coordination with state health department review; and
- Working with stakeholders to manage the political and community reactions to such transactions.
- M. Daria Niewenhous, Member, Mintz Levin
- Howard T. Wall, Executive Vice-President and Chief Administrative Officer, RegionalCare Hospital Partners, Inc.
- Moderator: James M. Pinna, Associate, Hunton & Williams LLP