Trey Andrews Partner

Trey focuses his practice on private equity-backed healthcare and corporate transactions. He regularly represents private equity funds, family offices and institutional co-investors, independent sponsors, public and privately held companies and executives in a wide variety of healthcare transactional matters, including platform and add-on acquisitions, leveraged buyouts, control, minority, growth and structured equity investments, divestitures, joint ventures, recapitalizations, commercial transactions, facility and provider licensing, operational and compliance issues, Medicare and Medicaid participation, and drug distribution and supply chain issues.

Trey’s experience extends across multiple sub-sectors in the healthcare industry, including home health agencies, hospices, telehealth providers, in-vitro fertilization and reproductive services clinics, infusion therapy centers an service providers, health IT and software companies, durable medical equipment and nutrition suppliers, hospitals, management services organizations (MSOs), physician group practices, imaging centers, drug and device manufacturers and distributors, pharmacies, and eye care centers. His work includes negotiating and drafting transaction documents and counseling clients with regard to the legal aspects of day-to-day operations, including general corporate matters, anti-kickback and Stark issues; self-referral, corporate practice of medicine and fee-splitting prohibition, HIPAA, certificate of need and licensure requirements, and state and federal securities matters.


Represented international buyer as healthcare regulatory counsel in connection with its acquisition of multiple in-vitro fertilization and reproductive services clinics, including providing guidance on structuring transaction within compliance of the California corporate practice of medicine prohibition with use of the management services organization model.

Represented a global specialty pharmaceutical distributor as healthcare regulatory counsel in its acquisition of a national outpatient infusion therapy and healthcare management company, specializing in the turnkey management of physician office-based infusion centers.

Represented a global healthcare IT medical-surgical supplies and pharmaceutical distributor as healthcare regulatory counsel in its acquisition of a national cancer treatment facility network.

Represented a global investment management firm as healthcare regulatory counsel in connection with its successful investment in a leading LASIK eye surgery company.

Represented a global investment banking and financial services firm on healthcare regulatory and fraud and abuse issues in connection with its successful investment in a national home health, palliative care and hospice provider.

Represented private equity firm as healthcare regulatory counsel in its acquisition of a leading national eye care center and vision insurance plan.

Represented global pharmaceutical distributor as healthcare regulatory counsel in connection with the acquisition of multiple drug wholesale distributors, third party logistics (3PL) providers, medical billing companies, and infusion therapy centers.

Assisted national drug distributor with licensure gap analysis of all U.S. based drug wholesale distributor and 3PL facilities.

Represented private equity firm in connection with negotiating and updating its credit agreement in connection with acquisitions and divestitures of its portfolio healthcare companies.

Provided healthcare regulatory counsel and assistance to a multi-national provider of healthcare products and services with its acquisition of a durable medical equipment supply company specializing in urological products.

Represented a national home care company, a portfolio company of a national healthcare focused private equity firm, as healthcare regulatory counsel on the acquisition of two enteral nutrition and DME companies.

Represented radiology group in sale of multiple imaging centers to regional health system and provided advice on professional services and management agreements related to the post-closing operation of the imaging centers and hospital radiology departments.

Counsel healthcare and life sciences companies on forming and restructuring joint ventures and management services organizations (MSOs).

Advised pharmaceutical and medical device manufacturers on risk under the federal Anti-Kickback Statute for proposed pilot programs, value-added services programs, and new product marketing initiatives.

Acted as outside healthcare regulatory counsel to several national telehealth and telemedicine companies, including providing guidance on the deployment telemedicine and teleradiology services.

Conducted internal investigations for health systems in relation to compliance with policies, procedures, and applicable regulations.

Represented clients in government investigations defense related to alleged False Claims Act violations, appropriate physician supervision requirements, alleged violations of the minimum medical loss ratio, and violations of the federal Anti-Kickback Statute.

  • The George Washington University Law School, JD, 2013
  • The University of North Carolina at Wilmington, BS, Biology, 2007
Member, North Carolina Bar Association
  • California
  • North Carolina

Selected for inclusion in Best Lawyers: Ones to Watch, Health Care Law, 2021-2023

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