McGuireWoods Advises Special Committee of Constellation Healthcare Tech in $309 Million Sale

Multipractice Team Contributes to ‘Going Private’ Deal

December 5, 2016

McGuireWoods represented the special committee of the board of directors of Constellation Healthcare Technologies Inc. (CHT) in the company’s Nov. 25 acquisition by founder Paul Parmar and CC Capital, a private investment founded in 2015 by Chinh Chu, formerly a top dealmaker at Blackstone. The “going private” transaction is valued at approximately $309.4 million.

Houston-based CHT provides billing support services to U.S. hospitals and medical practices. It went public on the Alternative Investment Market, a submarket of the London Stock Exchange, in 2014. The acquisition price of $3.36 per share to take the company private represents a 45 percent premium for CHT shareholders.

Lawyers from McGuireWoods’ securities, antitrust, financial services litigation, healthcare and debt finance practices advised the special committee of CHT’s board in the transaction. Partner Stephen Older led the deal team, which included partners Richard Viola, Jeffrey Rothschild, Jeffrey Chapman, Joshua Davey, Benjamin Iselin and Brent Justus, and associates Holly Carnell, Tristan Freeman and Matthew Reynolds.

McGuireWoods regularly represents special committees in significant mergers and acquisitions. This year, the firm represented Apple REIT Ten and the special committee of its board in a $1.3 billion sale to Apple Hospitality REIT, creating one of the largest upscale, select service lodging portfolios in the industry.

McGuireWoods’ transactional practices placed highly in respected league tables for the number of M&A deals handled in the first nine months of 2016. The firm ranked No. 11 in deal count in Thomson Reuters’ Mergers & Acquisitions Review for advising clients in 85 U.S. deals valued at nearly $16 billion. And in Bloomberg’s Global M&A Market Review Legal Rankings, McGuireWoods came in at No. 13 in deal count for serving as counsel to principals in U.S.-announced deals and No. 16 for representation of clients in U.S.-announced transactions.