Keen preparation, astute due diligence and earnest negotiation are key to getting the health-care deal you want, three experienced deal attorneys told a Bloomberg Law webinar audience this week.
The three offered stellar advice. “Stay organized” may seem like a simple concept, but, as explained by Brett Friedman of Ropes & Gray in New York, it encompasses identifying and listing the various players, assigning responsibilities and scheduling deadlines. Preparation can set the tone for negotiating the deal.
Due diligence is all about identifying risks and developing strategies to minimize them, according to Michael B. Lampert of Ropes & Gray in Boston. Something many people probably don’t think about, but that can be instructive, is self- or reverse-diligence, he said. The seller’s candid examination of itself can build both parties’ confidence that the deal will go through without any big surprises.
Crucial deal documents, like confidentiality agreements and the final definitive contract require careful drafting, John O. Chesley, a partner in Ropes & Gray's San Francisco office, added. The confidentiality agreement is a “proxy for the deal” that gives each party a fairly clear picture of how the other means to go on, while the final agreement sets pivotal terms, like the compensation to be exchanged and which party will pay if the seller’s pre-deal conduct leads to post-deal liability.
Health-care deal activity is proceeding at a rapid pace, and many health-care organizations are looking to close a deal quickly and effectively. The message I heard was that moving carefully through the transaction process can go a long way to ensuring the deal is a success.
Read my story at http://www.bna.com/done-three-steps-n57982078183/\
Stay on top of new developments in health law and regulation with a free trial to the Health Law Resource Center.
Learn more about Bloomberg Law and sign up for a free trial.
All Bloomberg BNA treatises are available on standing order, which ensures you will always receive the most current edition of the book or supplement of the title you have ordered from Bloomberg BNA’s book division. As soon as a new supplement or edition is published (usually annually) for a title you’ve previously purchased and requested to be placed on standing order, we’ll ship it to you to review for 30 days without any obligation. During this period, you can either (a) honor the invoice and receive a 5% discount (in addition to any other discounts you may qualify for) off the then-current price of the update, plus shipping and handling or (b) return the book(s), in which case, your invoice will be cancelled upon receipt of the book(s). Call us for a prepaid UPS label for your return. It’s as simple and easy as that. Most importantly, standing orders mean you will never have to worry about the timeliness of the information you’re relying on. And, you may discontinue standing orders at any time by contacting us at 1.800.960.1220 or by sending an email to firstname.lastname@example.org.
Put me on standing order at a 5% discount off list price of all future updates, in addition to any other discounts I may quality for. (Returnable within 30 days.)
Notify me when updates are available (No standing order will be created).
This Bloomberg BNA report is available on standing order, which ensures you will all receive the latest edition. This report is updated annually and we will send you the latest edition once it has been published. By signing up for standing order you will never have to worry about the timeliness of the information you need. And, you may discontinue standing orders at any time by contacting us at 1.800.372.1033, option 5, or by sending us an email to email@example.com.
Put me on standing order
Notify me when new releases are available (no standing order will be created)