DEAL ANNOUNCEMENT / PRESS RELEASE
McDermott Represents New Harbor Capital in Advent Home Medical Acquisition of Aeratech Home Medical
September 26, 2022
Read time: 3 min
International law firm McDermott Will & Emery represented New Harbor Capital, a Chicago-based private equity firm, in its portfolio company and high-tech respiratory medical equipment and services company, Advent Home Medical, in its acquisition of Aeratech Home Medical, an Ohio and Indiana-based premier provider of home respiratory care and equipment technology. The partnership meaningfully advances both businesses’ goals of providing the highest quality home healthcare to more patients across the Midwest and beyond.
The McDermott deal team was led by Robert Clagg and included Heidi Steele, Sarah Kitchell, Adam Spiegel, Ellie Atkins, Josh Cohrs, Deepali Doddi, Nora Klein, John Parker, Nick Paul, George Tzanetakos, Kate Williams, Alex Williamson and Deepak Tamasker.
McDermott Will & Emery partners with leaders around the world to fuel missions, knock down barriers and shape markets. Our team works seamlessly across practices and industries to deliver highly effective solutions that propel success. More than 1,200 lawyers strong, we bring our personal passion and legal prowess to bear in every matter for our clients and the people they serve.
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Hospitals & Health Systems Innovation Summit to Explore Emerging Trends and Cutting-Edge Partnerships Transforming the Business of Healthcare
PRESS RELEASE
Hospitals & Health Systems Innovation Summit to Explore Emerging Trends and Cutting-Edge Partnerships Transforming the Business of Healthcare
September 22, 2022
Read time: 4 min
Leading health law firm McDermott Will & Emery is hosting its third annual Hospitals & Health Systems Innovation Summit at the InterContinental New York Barclay on Thursday, October 20, 2022. This one-day event will explore the emerging trends and cutting-edge partnerships across the hospital and health system segment of the industry that are transforming the business of healthcare.
“The healthcare industry generally and hospitals and health systems specifically have undergone several years of extensive transformation, growth and innovation,” said Kerrin Slattery, co-lead of McDermott’s Hospitals & Health Systems practice. “This summit will provide health system executives and their business partners with the vital knowledge they need to make informed business decisions today and the insight required to strategically plan for the future.”
Attendees will learn from and connect with industry leaders, including C-suite executives, top strategists, investors, bankers and others, as they share insights on how to innovate, collaborate and grow in a dynamic healthcare landscape. The event will feature a keynote address from Dr. Ralph de la Torre, chairman and chief executive officer of Steward Health Care System, the largest private, physician-led healthcare network in the country.
Additional speakers include Eric Berger, partner with Bain & Company; Andrew Devoe, chief financial officer of TriHealth; Feby Abraham, PhD., executive vice president and chief strategy officer of Memorial Hermann Health System; Rasu B. Shrestha, MD, MBA, executive vice president and chief strategy and transformation officer at Atrium Health; Sheri Shapiro, senior vice president and chief strategy officer with Trinity Health; and Brian Spendley, principal at The Chartis Group.
“This year’s speakers bring an incredible level of experience and expertise with respect to the healthcare industry and the trends impacting hospitals and health systems,” said Charles Buck, co-lead of McDermott’s Hospitals & Health Systems practice. “Attending our Innovation Summit is a unique opportunity to learn from and interact with these industry leaders.”
Program topics include:
- Health System Evolution: The Chief Strategy Officer Perspective on Today’s Industry
- Success with Service Lines: Winning with Cutting-Edge Collaborations
- Transformative Value-Based Care Arrangements: Payor and Provider Collaborations
- Digital Demand, Health Tech Innovation and Making it Work in Your System
- State of Hospital M&A: Trends Behind the Surge and Risks to Getting Deals Done
McDermott is the nation’s leading health law firm and the only health practice to receive top national rankings from U.S. News – Best Lawyers “Best Law Firms,” Chambers USA, The Legal 500 US and Law360. The practice was also recognized by Chambers as “Healthcare Team of the Year” in 2010, 2013, 2017, 2019 and 2022. McDermott has also held the top spot in PitchBook’s League Tables as the most active firm for healthcare private equity since 2017.
Media are invited to attend the event under Chatham House Rules. To register as media, contact Erin West at eswest@mwe.com. Visit the conference web page for more information and to register for the event.
McDermott Will & Emery partners with leaders around the world to fuel missions, knock down barriers and shape markets. Our team works seamlessly across practices and industries to deliver highly effective solutions that propel success. More than 1,200 lawyers strong, we bring our personal passion and legal prowess to bear in every matter for our clients and the people they serve.
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McDermott Represents Windrose Health Investors in Investment in Third Wave Recovery Systems
DEAL ANNOUNCEMENT / PRESS RELEASE
McDermott Represents Windrose Health Investors in Investment in Third Wave Recovery Systems
September 20, 2022
Read time: 3 min
International law firm McDermott Will & Emery represented WindRose Health Investors, LLC, a New York-based healthcare private equity firm, in its investment in Third Wave Recovery Systems, LLC (TWRx), a provider of rebate administration services for hospitals, long-term care facilities and select specialty physician groups. WindRose’s investment will support TWRx’s strong momentum in the rebate administration marketplace and will continue TWRX’s rapid growth trajectory.
- The transaction was announced on September 16, 2022.
- In conjunction with WindRose’s investment, TWRx acquired SRX, LLC (SRX), a leader in pharmaceutical rebate management services for the skilled nursing and LTC industry.
- The McDermott deal team was led by Krist Werling and included Jarrett Szczesny, Bernardo Vaz, Sarah Bro, Brian Gordon, Jeffrey Holdvogt, Michelle Strowhiro, Alex Ruiz, Patrick Zanayed, Ty Carson, Maxwell Preston, Adam Byrne, Cristell Fortune, Jayda Greco and Cristina Sanchez. Ira Coleman is the relationship partner for Windrose.
- Read Windrose’s press release here.
McDermott’s private equity practice is among the top four most active PE law firms globally and in the US with more than 160 dedicated private equity lawyers in 21 locations globally. In addition to being Pitchbook’s top Healthcare PE firm for a fifth consecutive year and fifth in both IT and financial services private equity, we are named Energy & Industrials Law Firm of the Year (Large Cap) by The Deal, Top 10 in PE Buyouts by MergerMarket and Top 10 in US Mid-Market by Bloomberg. Learn more about our PE practice by visiting pe.mwe.com.
McDermott Will & Emery partners with leaders around the world to fuel missions, knock down barriers and shape markets. Our team works seamlessly across practices and industries to deliver highly effective solutions that propel success. More than 1,200 lawyers strong, we bring our personal passion and legal prowess to bear in every matter for our clients and the people they serve.
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McDermott’s John F. Finston Appointed Executive Deputy Superintendent of the Insurance Division at the New York State Department of Financial Services
AWARDS & RANKINGS / PRESS RELEASE
McDermott’s John F. Finston Appointed Executive Deputy Superintendent of the Insurance Division at the New York State Department of Financial Services
September 20, 2022
Read time: 4 min
International law firm McDermott Will & Emery is pleased to share John F. Finston has been appointed Executive Deputy Superintendent at the New York State Department of Financial Services (DFS). The announcement was made today by Adrienne A. Harris, Superintendent of DFS. John’s first day in this role will be October 3, 2022.
“We are delighted for John and congratulate him on this tremendous accomplishment as he moves into his new role,” said Ira Coleman, McDermott’s Chair. “While we will miss John’s legal prowess, we know he will excel in this position and are proud to continue the Firm’s support of public sector service.”
“John’s years of leadership in a variety of roles in the insurance industry, both in the private and public sector, will greatly benefit the insurance industry in New York. We are deeply honored that our colleague and good friend has been appointed to such a prominent position and look forward to working with John and the DFS in the coming years,” noted Michael R. Halsband, head of the Firm’s Insurance Transactions and Regulations Practice Group.
John is currently Senior Counsel in the Firm’s Insurance Transactions and Regulations Practice Group representing US and international clients from across the insurance industry, including insurers, reinsurers, producers, managing general agents, private funds and institutional investors in a variety of transactions and regulatory matters. He previously served as General Counsel and Deputy Insurance Commissioner for the State of California from 2015-2017. John has more than 35 years of leadership experience addressing state, federal and international insurance regulatory, solvency and transactional issues for a variety of industry constituents.
John earned his JD at St. John’s University, School of Law, where he was a St. Thomas More Scholar.
McDermott’s Insurance Transactions and Regulatory Group is a leading practice in global insurance, reinsurance and InsurTech transactions and regulation with lawyers in Boston, Chicago, Dallas, London, New York, San Francisco, Silicon Valley and Washington, DC. We are ranked Tier 1 in Insurance Law by Best Lawyers published in US News and World Report. Learn more about the Firm’s InsurTech Summit by visiting www.mwe.com/events/mcdermotts-insurtech-summit/.
McDermott Will & Emery partners with leaders around the world to fuel missions, knock down barriers and shape markets. Our team works seamlessly across practices and industries to deliver highly effective solutions that propel success. More than 1,200 lawyers strong, we bring our personal passion and legal prowess to bear in every matter for our clients and the people they serve.
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McDermott Adds Prominent Litigators in Dallas
PRESS RELEASE
McDermott Adds Prominent Litigators in Dallas
September 19, 2022
Read time: 5 min
International law firm McDermott Will & Emery is pleased to announce the addition of partners Richard Salgado and David Genender to its Litigation Practice Group based in Dallas. David and Richard are experienced first-chair trial lawyers who understand the complex litigation risks associated with doing business in today’s economy.
“McDermott is committed to continued growth across Texas, including a strategic focus on expanding our litigation capabilities in a broadening market with diverse client needs,” Mike Poulos, Partner-in-Charge of Firm Strategy, said. “Richard and David are essential to that growth, and we’re excited they chose McDermott.”
“Richard and David’s skills add another level of trial-ready experience in the Texas market, providing invaluable counsel to clients with complex litigation needs across key industries including technology, energy and life sciences,” Steven Scholes, global head of McDermott’s Litigation Practice Group, said. “They have both achieved exceptional outcomes for their clients, and we look forward to their continued success at McDermott.”
Richard represents clients in complex, bet-the-company disputes ranging from commercial litigation to tort, intellectual property and regulatory matters with amounts at issue often in the billions of dollars. He has led more than a dozen jury trials and major arbitrations coast-to-coast and internationally. Having substantial appellate experience, Richard has presented oral arguments in more than two dozen cases before each of the 13 federal courts of appeal as well as numerous state courts of appeal. His wins include several reversals of jury verdicts. Richard joins McDermott from Jones Day.
“I joined McDermott because it is the perfect fit for key clients I’ve served for many years, and also for the opportunity to help build the preeminent litigation practice in Texas,” Richard said.
David represents both plaintiffs and defendants in arbitrations in state and federal courts across the country. He handles high-stakes, complex civil disputes for clients in the energy, technology, private equity, professional services, real estate and life sciences industries. David has handled patent infringement, misappropriation of trade secrets, licensing, antitrust, fiduciary duty, environmental, product liability, post-acquisition accounting, royalty and toxic tort matters in addition to typical contract and fraud commercial disputes. Besides representing clients in disputes, David routinely counsels clients regarding dispute resolution agreements, risk management and other matters designed to minimize litigation risk and/or exposure. David joins McDermott after 28 years at Baker Botts LLP.
“It’s an exciting time to be a trial lawyer in Texas,” David said. “I was immediately impressed with McDermott’s growing platform and commitment to providing excellent client service in Texas. I know this move will benefit my clients. My decision was made that much easier when I got to know the outstanding people with whom I will be working,”
Richard and David are the most recent additions to the Firm’s global litigation practice following the arrivals of partners Amy Frey in Paris, Jack Thorne in London, Joel Haims in New York and Jon Henry in Washington, DC.
McDermott Will & Emery partners with leaders around the world to fuel missions, knock down barriers and shape markets. Our team works seamlessly across practices and industries to deliver highly effective solutions that propel success. More than 1,200 lawyers strong, we bring our personal passion and legal prowess to bear in every matter for our clients and the people they serve.
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SRZ Special Counsel Susan Bernstein Elected as ACEBC Fellow
PRESS RELEASE
SRZ Special Counsel Susan Bernstein Elected as ACEBC Fellow
September 17, 2022
Read time: 3 min
Schulte Roth & Zabel LLP is pleased to announce that Susan Bernstein was elected as a Fellow of the prestigious American College of Employee Benefits Counsel (ACEBC). The induction ceremony was held at the Chicago Club in Chicago, IL, on September 17, 2022, after a delay due to COVID. The ACEBC® is dedicated to elevating the standards and advancing the public’s understanding of the practice of employee benefits law.
The American College, a highly selective organization of nationally recognized employee benefits legal experts, limits membership to select lawyers with 20 or more years of experience who have made significant contributions to the advancement of the employee benefits field throughout their career. Those elected as Fellows of the ACEBC have demonstrated a sustained commitment to its advancement through writing, speaking, analysis, education, public service and leadership in the employee benefits community; exhibit exemplary character and ethical behavior; and, are recognized for excellence by their peers.
With nearly three decades of experience, Susan focuses her practice on executive compensation, ERISA and employee benefits including tax-qualified retirement programs for a wide range of organizations. She works directly with boards of directors, compensation and retirement/investment committees, plan administrators and plan fiduciaries on the design, implementation and maintenance of their employee benefit programs, including negotiating with the Internal Revenue Service, U.S. Department of Labor and Pension Benefit Guaranty Corporation on a variety of compliance matters. Susan brings a multifaceted approach to advising employers with respect to their legal, financial and administrative challenges.
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McDermott Represents Beam Suntory in its $400 Million Renewable Energy Services Agreement with 3Rivers Energy Partners
DEAL ANNOUNCEMENT / PRESS RELEASE
McDermott Represents Beam Suntory in its $400 Million Renewable Energy Services Agreement with 3Rivers Energy Partners
September 15, 2022
Read time: 3 min
International law firm McDermott Will & Emery represented Beam Suntory Inc., a world leader in premium spirits and producer of Jim Beam® bourbon, in the execution of a Renewable Energy Services Agreement with 3Rivers Energy Partners for the development of a $400 million renewable energy expansion.
As a result of this agreement, Beam Suntory will build a facility across the street from the Booker Noe distillery, Jim Beam’s largest Kentucky Distillery, to convert spent stillage into biogas. The biogas development project will use still from the whiskey distillery process as feedstock to produce renewable natural gas, which will then power the expanded distillery and assist Beam Suntory in achieving its goal to cut its company-wide greenhouse gas emission and water usage in half by 2030.
The transaction closed on September 12, 2022 and the project is expected to be completed by 2024.
In addition to capacity expansion, the investment includes land, warehouses and 51 new local jobs. Further, this project allows the distillery to invest in high-efficiency gas boilers to make maximum use of renewable natural gas, use scrubbing technology to remove carbon dioxide from fermentation tanks and following a purification process, facilitate the beneficial reuse of more than 100,000 metric tons of high-purity carbon dioxide annually.
The McDermott team was led by Parker Lee and Nichole Shustack and included Ming Lei, Isabelle Cunningham, Jacob Hollinger, Heather Cooper and Robert da Silva Ashley.
McDermott Will & Emery partners with leaders around the world to fuel missions, knock down barriers and shape markets. Our team works seamlessly across practices, industries and more than 20 locations to deliver highly effective solutions that propel success. More than 1,200 lawyers strong, we bring our personal passion and legal prowess to bear in every matter for our clients and the people they serve.
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McDermott Represents Main Capital Partners on the acquisitions of Wanko and FleetGO and the and launch of a new logistics software group
DEAL ANNOUNCEMENT / PRESS RELEASE
McDermott Represents Main Capital Partners on the acquisitions of Wanko and FleetGO and the and launch of a new logistics software group
September 15, 2022
Read time: 4 min
Frankfurt, September 15, 2022 – International law firm McDermott Will & Emery represented software investor Main Capital Partners on two further transactions: A team led by partners Norman Wasse and Dustin Schwerdtfeger advised Main Capital on the acquisition of Wanko Informationslogistik GmbH as well as on the subsequent acquisition of FleetGO Group. The two companies will be combined to form a new comprehensive logistics software group that will be known as FleetGO Group. The management of both remains invested with a minority stake.
Wanko Informationslogistik GmbH is a logistics software partner for route planning, warehouse management and telematics founded in 1972. FleetGO, founded in 2010, provides modern telematics solutions for companies. In addition to its headquarters in Hattem, the Netherlands. the company has offices in Düsseldorf and Istanbul. These two businesses both have significant and well-established track records as market leaders within their own sectors. They both focus on the supply chain software market in the German and Dutch markets respectively.
Main Capital Partners is a strategic investor focusing on enterprise software in Benelux, DACH and Scandinavia. The company manages assets of around EUR 2.2 billion.
The McDermott team led by partners Norman Wasse and Dustin Schwerdtfeger is particularly experienced with software and tech transactions. The team advised Main Capital on various transactions and financings, most recently on the acquisition and financing of FormSolutions and DataPlan by machgruppe and Audimex by Swedish portfolio company Blika Solutions Cryptshare AG by and its portfolio company Pointsharp. Recently, the team has also advised on the double take-over of Plato and IQS Software.
The London team led by partners Calum Thom and Linda Zeman also advised on a transaction for Main Capital for the first time in connection with the acquisition of the FleetGO Group.
The McDermott team was led by partner Norman Wasse and included partners Dustin Schwerdtfeger, Gudrun Germakowski, Johannes Honzen, Christian L. Masch, counsel Marcus Fischer; partners Calum Thom, Linda Zeman (both co-lead for FleetGo transaction), counsel Gary Howes, partner Paul McGrath and Hendrik Viaene (all only FleetGo transaction) as well as associates Marion von Grönheim, Isabelle Suzanne Müller, Lukas Deutzmann, Lisa Schickling, Franziska Leubner (both only Wanko transaction), Isabella Kätzlmeier, Hannah Henseling, Markus Hunkenschröder; and Johanna Greißel, Felicitas Faber, Dorothea Zimny, Chris Marshall, Rosie Mist, Emmy Clode, Charlotte Moorhouse, Sanjeet Johal, Sarah Gabbai, Hannelore Wiame (all only FleetGO transaction).
McDermott Will & Emery partners with leaders around the world to fuel missions, knock down barriers and shape markets. Our team works seamlessly across practices, industries and more than 20 locations to deliver highly effective—and often unexpected—solutions that propel success. More than 1,200 lawyers strong, we bring our personal passion and legal prowess to bear in every matter for our clients and the people they serve.
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McDermott Advises on EUR 1.28bn Exit from AUCTUS Capital Partners
DEAL ANNOUNCEMENT / PRESS RELEASE
McDermott Advises on EUR 1.28bn Exit from AUCTUS Capital Partners
September 14, 2022
Read time: 4 min
International law firm McDermott Will & Emery represented funds advised by AUCTUS Capital Partners AG as well as PharmaLex Holding GmbH on the sale of PharmaLex Group to NYSE-listed Amerisource Bergen Corporation. The cash purchase price amounts to €1.28 billion. The transaction is subject to customary closing conditions and its completion is expected by March 2023.
The PharmaLex Group, headquartered in Germany and with numerous subsidiaries worldwide, provides scientific, regulatory and strategic advisory services to pharmaceutical companies. This includes support in the clinical development up to the marketing authorization of medicinal products and in ensuring the safety of medicinal products (pharmacovigilance) after market entry. PharmaLex thus enables its clients to market their medicinal products worldwide in accordance with local regulatory requirements under their respective market conditions. Many of PharmaLex’s consulting services are technology-based. The company employs experts in the fields of science, regulation, safety and compliance (GxP), many of whom had previously owned their own consulting companies which they subsequently sold to PharmaLex. Earlier this year, PharmaLex acquired Phlexglobal, a technology platform in the UK.
The international McDermott team was jointly led by the Firm’s Munich-based lawyers, Dr Stephan Rau, Dr Germar Enders and Dr Nadine Hartung. Stephan Rau has been the lead advisor to PharmaLex and its shareholder AUCTUS on numerous acquisitions since 2015, in particular in connection with acquisitions in the US where he has been able to draw on McDermott’s market-leading capabilities in life sciences and health. The acquisition of Phlexgobal was advised by McDermott London team led by partners Eleanor West and Sharon Lamb.
Advisors AUCTUS Capital Partners AG and PharmaLex Holding GmbH:
McDermott Will & Emery (Munich): Dr Stephan Rau (M&A/Private Equity/Healthcare Regulatory), Dr Germar Enders (Counsel) and Dr Nadine Hartung (both Corporate/M&A/Private Equity, all Lead). Dr Deniz Tschammler (Commercial/Regulatory/Compliance), Dr Monika Richter (Counsel, Commercial, both Frankfurt), Jana Grieb (Counsel, Healthcare Regulatory/Compliance), Dr Gudrun Germakowski (Labour Law, Düsseldorf), Steffen Woitz (IP/IT), Eleanor West (Corporate/M&A), Sharon Lamb (Healthcare Regulatory, both London), Diego Gómez-Cornejo (Corporate/M&A, Dallas); Associates: Dr Robert Feind, Sebastian Gerstner, Matthias Weingut (all Corporate/M&A), Sylvia Petereit-Kemter, Dr. Lea Hachmeister (Frankfurt; both Healthcare Regulatory/Compliance), Markus Cejka (Finance, Frankfurt), Ilva Woeste (Labour Law), Heloise Waudby (Corporate/M&A, London), Elaine Kao (Corporate/M&A, Dallas)
Further advisors to AUCTUS/PharmaLex: Noerr, Emnay
McDermott Will & Emery partners with leaders around the world to fuel missions, knock down barriers and shape markets. Our team works seamlessly across practices, industries and more than 20 locations to deliver highly effective—and often unexpected—solutions that propel success. More than 1,200 lawyers strong, we bring our personal passion and legal prowess to bear in every matter for our clients and the people they serve.
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McDermott Comment | China Fishery Restructuring Plan Sanctioned By High Court As Judge Dismisses Minor Noteholder Objections
PRESS RELEASE
McDermott Comment | China Fishery Restructuring Plan Sanctioned By High Court As Judge Dismisses Minor Noteholder Objections
September 14, 2022
Read time: 2 min
Mark Fine, a partner at law firm McDermott Will & Emery, said:
“The High Court’s sanctioning of the China Fishery restructuring plan continues to show what an effective tool it is and highlights its ability to be utilized in a cross-border restructuring alongside other insolvency regimes in order to deal with multi-jurisdictional liabilities. Importantly, it also re-emphasizes the fact that minority creditors looking for hold-out value and holding capital structures to ransom for lengthy periods of time are likely to fall short of their goals.”