Legal News

For the fifth consecutive year, the Bass, Berry & Sims Healthcare Private Equity Team hosted BBS Connect, a forum to connect healthcare dealmakers during the annual J.P. Morgan Healthcare Conference. Over three days – January 11-13, 2021 – we brought together senior executives and healthcare dealmakers on the front lines of the healthcare industry’s hottest sectors. Our sector-focused sessions included insights into deals completed in 2020, opportunities and challenges healthcare companies...

2020 was a tumultuous year for the healthcare industry, which continues to confront the effects of the COVID-19 pandemic. Despite these unprecedented and unpredictable times, healthcare merger and acquisition (M&A) activity did not decline as sharply as many predicted, even rebounding in the second half of the year. Year in Review for a breakdown of M&A activity and drivers in 2020 in the following hot sectors: • Hospitals • Post-Acute Care – Home Health & Hospice and Personal Care Servi...

You have undoubtedly read about the continuing popularity of special purpose acquisition companies (SPACs). According to SPACInsider, year-to-date there have been 242 SPAC IPOs, with an average IPO size of $334.9 million. This is remarkable as the next highest year was 2019 when there were 59 SPAC IPOs with an average size of $230.5 million......By: Bass, Berry & Sims PLC

The COVID-19 pandemic has stressed the M&A market at every stage of the deal-making process – from complicating on-site visits and intensifying the diligence process to introducing valuation gaps (relative to pre-COVID-19 expectations), complicating purchase agreement negotiations and limiting the availability of debt financing. Despite these hurdles, healthcare dealmakers have continued to pursue attractive acquisition opportunities throughout 2020, with the healthcare M&A market substantially...

While neither of the recent cases discussed below establishes new law, they serve as good reminders of principles and requirements that can be important to participants in construction projects in Tennessee. The first case, Sifuentes v. D.E.C, LLC, addresses the effects on a subcontractor’s remedies of not being licensed as a contractor as required in Tennessee. The second case, Clark v. Givens, involves the effect of a construction agreement not containing a “time is of the essence”...By: Ba...

The Tennessee Construction Industry Payment Protection Act was signed into law on June 22. The Act addresses or reallocates certain risks associated with non-payment on construction projects under Tennessee’s Prompt Pay Act (PPA) and is intended to increase clarity and consistency in the PPA and in Tennessee’s mechanics’ lien law, Truth in Construction and Consumer…...By: Bass, Berry & Sims PLC

In a statement to Congress last week, Commissioner Rohit Chopra of the Federal Trade Commission (FTC) advocated for increased antitrust enforcement against private equity-backed “roll-up” acquisition strategies, especially acquisitions of physician practices and other healthcare providers. “Roll-ups” are a common strategy where an investor, such as a private equity firm, buys several companies operating in the same line of business and combines them into a larger organization that is better....

We recently wrote about the impacts of mergers and acquisitions (M&A) on pending bids in Bloomberg Law and our GovCon & Trade Blog. A key point discussed in both articles is that a bidding company’s buyer may not have standing to protest if the buyer is not the complete successor-in-interest to the bidding company. The U.S. Court of Federal Claims recently affirmed this principle in a decision it handed down in the case of Centerline Logistics Corp. v. United States issued in May 2020......By: ...

The sudden arrival of the COVID-19 pandemic in the first quarter of 2020 shocked an M&A market that was riding high coming into the year, and in many ways, the impact of the novel coronavirus on M&A deals is still just coming into focus......By: Bass, Berry & Sims PLC

On May 21, the SEC finalized amendments to its rules and forms revising the disclosure requirements for financial statements relating to acquisitions and dispositions of businesses, which were adopted in substantially the same form as proposed in May...By: Bass, Berry & Sims PLC