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Latest from McGuireWoods LLP

GI Partners and TA Associates have announced that they will acquire the stake held in Netsmart Technologies by healthcare IT company Allscripts Healthcare Solutions. Netsmart, based in Overland, Kan., is a provider of software and technology solutions designed for the health and human services and post-acute sectors. GI Partners, based in San Francisco, is a middle-market private equity firm active in several sectors, including healthcare. TA Associates, based in Boston, invests in…
End of year spending package With the December 21 deadline looming to fund remaining areas of government for FY19, congressional Democratic leaders traveled to the White House on Tuesday to discuss the parameters of an end of year spending package. In a heated public meeting, the President and Leaders Schumer (D-NY) and Pelosi (D-CA) argued over the President’s request for $5 billion to build a border wall, with Trump claiming he would be “proud” to (partially)…
  Recent developments in privacy law and a rise in class action lawsuits related to data collection offer a cautionary tale about understanding legal and ethical boundaries of monitoring “on-the-clock” employee conduct. With a hodgepodge of federal, state, and local legislation governing employee privacy rights, employers are often left to navigate a complicated legal landscape while balancing the practical need to understand how employees are using company information and equipment.  Employers, for example, have a…
This Week: Congress averts government shutdown by passing two-week extension for Continuing Resolution, pushing the funding issues to Dec. 21. House Bipartisan, Bicameral Legislators Unveil FDA-Inspired Bill Regulating Diagnostic Tests On Dec. 6, bipartisan House and Senate members released draft legislation for the Food and Drug Administration (FDA) to regulate in vitro clinical tests, including test kits and laboratory-developed tests (LDTs). The draft legislation resembles a legislative proposal put forward by the FDA in August. The…
Wednesday, the President, Vice President, former Presidents and Vice Presidents, members of Congress, and other US and foreign dignitaries attended a state funeral honoring the late President George H.W. Bush at the National Cathedral in Washington. The federal government and the stock market also closed to mark the national day of mourning. As the nation paused this week to remember President Bush, Congress took steps to extend the December 7 deadline to address the remaining four areas…
We expect the U.S. Senate to confirm, as soon as this afternoon, President Trump’s nominee to lead the CFPB as its Director, Kathy Kraninger. A positive, though razor-thin and highly contested, outcome for Kraninger appears inevitable based on the Senate’s vote just a few days ago, strictly along party lines, to invoke “cloture” on the nomination by a margin of 50-49 (with one Republican absent), thereby prohibiting a Democratic filibuster on the confirmation. If Kraninger…
A number of changes to Fed. R. Civ. P. 23 took effect on December 1, 2018. They’ve been in the works for some time, so no surprises, but now is a good time to summarize them.  The changes deal primarily with class settlements and objections: Rule 23(c) Rule 23(c)(2)(B), which deals with class notice, has been expanded to encompass proposed settlement classes. Giving notice of proposed settlement classes is now discretionary under Rule 23(e) as…
The Blackstone Group has announced the closing of its acquisition of Clarus. The business will now operate as Blackstone Life Sciences. Blackstone indicated that its new private investment platform will invest across the lifecycle of companies and products within life sciences sectors. Historical funds will retain the Clarus name. Blackstone had previously announced its acquisition of Clarus, a global life sciences investment firm based in Cambridge, Mass., and South San Francisco, in October. Founded…
This Week: Congress focuses on organizing for the next Congress and the continuing resolution; previews of drug pricing legislation for the next Congress; CMS issues controversial guidance concerning how states can use subsidies. House Incoming House chairmen Ask Trump Officials for Documentation on Plan for Bypassing Key Requirements of the ACA Reps. Pallone (D-NJ) and Richard Neal (D-MA), incoming chairmen of the House Energy and Commerce and House Ways and Means Committee, respectively, have asked Trump…
A recent FDIC request for information (RFI) suggests the FDIC is interested in enabling banks to offer small, short-term loans to consumers. Over the coming weeks the FDIC will be taking comments on the matter. After analyzing the comments received, the FDIC may issue guidance or regulations encouraging banks to offer these products. FDIC data suggests that 13% of U.S. households have unmet demand for small loans from banks, representing 14.8 million potential financial consumers.…