Part II: Negotiating the Letter of Intent This is the second article in our series on “Closing a Private Equity Transaction.” As discussed in “Part I,” advance preparation is critical to getting a deal done. Once preparation for a potential transaction is complete, and an interested buyer or investor is identified, the parties will proceed with negotiating a letter of intent (LOI). With a few exceptions (which are mentioned below), the LOI is…

Senate Bill 1264, which recently passed during the 86th Texas legislative session, places restrictions on certain out-of-network providers regarding the practice known as “balance billing” and establishes a process through which health plans and providers may resolve payment disputes. The bill is effective September 1, 2019 and applies to services and supplies provided on or after January 1, 2020. I.  Balance Billing and SB 1264 The term “balance billing” refers to when a healthcare provider…

On June 1, 2019, the United States Pharmacopeia (“USP”) published the final revisions to its pharmaceutical sterile compounding standards (“chapter <797>”).  Chapter <797> sets forth standards for the preparation of compounded sterile medications to help ensure products are safe and effective and reduce risks such as contamination or incorrect dosing. The most recent revisions implement new standards and revise existing ones based on recent scientific and technological developments. The chapter <797> revisions also incorporate stakeholder…

In 1988, the Kansas legislature enacted K.S.A. 60-19a02 to limit personal injury plaintiffs’ recovery for non-economic losses such as pain and suffering, mental anguish, loss of enjoyment of life, etc.  Thirty years later, in a 4-2 decision handed down on Friday, June 14th, Hilburn v. Enerpipe Ltd. put an end to non-economic damage caps in Kansas personal injury cases.  This change does not apply to wrongful death cases or punitive damages, but it will affect…

Part I: Preparing for a Transaction First in the series. To increase the likelihood of ultimately closing a transaction with a private equity investor or buyer, the key is preparation.  Preparation is divided up into several steps. First, before seeking a potential investor or buyer, the owners of the business should go through a semi-formal process to confirm the owners and key members of the business have shared, or at least compatible, motivations and priorities…

Bipartisan legislation to address surprise medical billing was introduced June 19 in the Senate Health, Education, Labor and Pensions (HELP) Committee.  Most notable for health insurers and providers is the way the bill tackles the biggest sticking point in the issue—mandating a benchmark rate to avoid pay disputes between health insurers and non-network providers. Surprise medical billing is commonly the result of care received in an in-network facility, such as a hospital, but that included…

Unfortunately, workplace violence is in the news every day.  OSHA is paying increasing attention to the workplace violence issue, particularly in the healthcare industry.  While there is no specific OSHA regulation addressing workplace violence, a recent decision supports OSHA’s use of the General Duty Clause in workplace violence cases in the healthcare industry. In Secretary of Labor v. Integra Health Management, No 13-1124 (March 4, 2019), the Occupational Safety and Health Review Commission (OSHRC)…