“The Corner Series” is a multiperspective podcast series by McGuireWoods featuring commentaries from lawyers, bankers and a number of specialists about the developments and issues dominating today’s middle-market private equity. Tune in with McGuireWoods partner, Geoff Cockrell as he and specialists share real-world insight to help enhance your knowledge.
Episode 17: The Professor's Corner, November 21, 2022
Summary & Transcript
In this second episode of a two-part series, McGuireWoods partner Mark Freedlander returns to discuss the ways a sponsor company can find itself liable if its portfolio companies enter financial distress.
Join Mark and host Geoff Cockrell for insight on different situations a sponsor may encounter, the protection available to a sponsor who recognizes problems early and the benefits of taking a cautious approach.
Episode 16: The Professor's Corner, October 28, 2022
Summary & Transcript
Many investors take on an operating thesis that, by law, the obligations of investment companies are not the obligations of the investor. They apply this whether their fund has invested in the securities of a limited partnership, a limited liability company or a corporation.
In the first of two episodes, McGuireWoods partner Mark Freedlander joins host Geoff Cockrell to explore the limits of this idea. Tune in as they discuss preference statutes, fraudulent conveyance and patterns that emerge in troubled portfolio companies.
Episode 15: The Professor's Corner, August 25, 2022
Summary & Transcript
It’s nine to 12 — maybe even 18 — months after the deal closed. There’s an
R&W policy in place, and the purchase agreement covers an array of
representations and warranties. But you become aware of something that
might be a breach.
In this episode of The Professor’s Corner, McGuireWoods partner and
insurance recovery practice leader
Tony Tatum joins host
Geoff Cockrell to walk listeners through the process of filing a claim, citing the issues
that might arise and errors to look out for at the onset. He also discusses
the importance of gathering evidence, being thorough, advocating for your
company and mitigating losses.
Episode 14: The Capital Corner, August 10, 2022
Summary & Transcript
OB-GYNs and fertility providers present a range of opportunities for
investors. Many patients see them more frequently than they do general
healthcare providers, and advancing research and technology in the space
continues to generate successful outcomes.
Tune in to host
Geoff Cockrell and
Baird managing director of healthcare investment banking
Jason Porter as they discuss where the OB-GYN and fertility sectors differ,
where opportunities in the sector are growing, and what providers and groups can
do to be more successful as they shift to value-based care.
Episode 13: The Professor's Corner, July 21, 2022
Summary & Transcript
The women’s health sector is a diverse subset of businesses covering multiple
specialties, including fertility and ancillary services. On this episode of The
Professor’s Corner, McGuireWoods lawyer Kayla
McCann Marty joins partner and host Geoff
Cockrell to discuss women’s health investing — from models like de novo
growth and acquisitions to regulatory compliance issues and future trends in
this active sector of the market.
Episode 12: The Banker's Corner, July 7, 2022
Summary & Transcript
On this episode of The Banker's Corner, McGuireWoods' Geoff Cockrell
invites Mikel Parker, a
head of investment banking and managing director at AMB, to discuss current
valuation trends in healthcare IT and other subsectors.
During their discussion, Mikel pinpoints four main sectors within the
concentrated field and the two types of buyers he comes across in his work. Tune
in to learn why healthcare IT continues to prove profitable and why companies
are shifting from transaction-based models to recurring-based models.
Episode 11: The Capital Corner, June 14, 2022
The pharmaceutical services industry has piqued the interest of private equity investors over the last five to 10 years as more drugs move into development and high-quality science continues to grow.
On this episode of The Capital Corner, McGuireWoods' Geoff Cockrell sits down with Dr. Bijan Salehizadeh, managing director at NaviMed Capital, to discuss the latest developments in the pharma services space within healthcare private equity.
Episode 10: The Capital Corner, May 31, 2022
In this episode of The Capital Corner,
Pete Tedesco of Health Enterprise Partners joins host
Geoff Cockrell to discuss post-pandemic demands within the healthcare industry and the growing interest in investment of niche healthcare sectors. Pete explains that it's all about understanding the current industry climate — and it's important to stay ahead of the curve.
Episode 9: The Professor's Corner, May 16, 2022
In the healthcare industry, some significant compliance issues and violations
can go unnoticed or implemented unintentionally. When addressing common
healthcare mistakes like Stark Law violations or billing and coding issues,
should one fix on a go-forward basis, address through indemnification in the
deal context, or self-disclose to the government? The answer isn’t as simple as
you might think.
McGuireWoods partner Timothy
Fry joins host Geoff
Cockrell to discuss the most common mistakes he sees in healthcare policy
compliance, the potential consequences and the smartest solutions.
Episode 8: The Professor's Corner, May 2, 2022
In healthcare transactions, people often think antitrust issues are a big corporation’s problem, but smaller companies may be at risk, too — and not just for civil liability. The past couple of years have brought multiple criminal cases against individual healthcare providers and corporate entities alike.
In this episode of The Professor’s Corner, host Geoff Cockrell interviews Holden Brooks, a partner in McGuireWoods’ Antitrust, Trade, and Commercial Litigation Department, to discuss best practices for managing antitrust risk in the healthcare space. Holden details new developments and regulations to help you prepare for deals and avoid antitrust risk — no matter the size of your business.
Episode 7: The Professor's Corner, April 20, 2022
Record-setting deal activity toward the end of 2021 strained the representation and warranties insurance (RWI) markets, directly impacting certain sectors including healthcare. This led to RWI policies with significantly higher rates and limited appetite for healthcare transactions. However, as we work through the second quarter of 2022, RWI prospects for healthcare transactions are looking brighter, with carrier appetite returning and rates settling.
In this episode of The Professor’s Corner, host Geoff Cockrell is joined by Sumit Agarwal, a senior vice president in Marsh’s Transactional Risk Group, and Sam Bell, a senior client executive and vice president at Marsh, who discuss how the RWI market reacted to the 2021 deal flow, the current state of the RWI market and returning carrier appetite for healthcare transactions.
Episode 6: The Professor's Corner, March 24, 2022
When preparing a private equity-backed healthcare investment, a reps and warranty insurer can request two types of exclusions: general exclusions and specific exclusions. The end of 2021 showed a significant increase in general exclusions, which left companies exposed to risk under the False Claims Act. Though the trend started shifting in early 2022, general exclusions are still something counsel should examine.
In this episode of The Professor’s Corner, host Geoff Cockrell invites colleague and McGuireWoods partner Trey Andrews to discuss how to navigate general and specific exclusions when purchasing a reps and warranty policy.
Episode 5: The Banker's Corner, March 4, 2022
On this episode of The Banker's Corner, McGuireWoods' Geoff Cockrell invites Barry Freeman, managing director of Lincoln International’s U.S. healthcare industry team, to discuss trends and investing opportunities in home health, hospice and palliative care. Barry shares his in-depth knowledge of the home healthcare space, including key takeaways from the recent Home Care 100 industry event. Barry also walks listeners through changes in the industry, where he believes the sector is headed and the advances being made to help manage risk.
Episode 4: The Capital Corner, February 28, 2022
On episode one of The Capital Corner, McGuireWoods partner Geoff Cockrell talks to Seven Hills Capital founding partner Matt Pettit about investing in the small to mid-sized healthcare market. As a former CEO of a dermatology practice management company who now leads a firm focused on first-round institutional capital investment, Matt speaks from experience on both sides of the healthcare services table.
Matt discusses why investing in small to medium-sized companies requires a much different approach than strategies larger-scale equity firms employ. He also explains why healthcare businesses need more than just capital and examines the importance of investors knowing their limits.
Episode 3: The Banker's Corner, January 28, 2022
In episode one of The Banker's Corner, McGuireWoods host
Cockrell and WestCove Partners managing director
Justin Hand discuss why investors
have a responsibility to drive disruptive evolution in the healthcare business
and how the competitive landscape impacts small and less-capitalized practices.
Learn what’s driving healthcare exits and why there is more to partnerships for
physicians beyond the cash considerations at the close.
Episode 2: The Professor's Corner, December 28, 2021
In the premiere episode of The Professor’s Corner, McGuireWoods partner David Pivnick shared best board practices to mitigate risk when making challenging decisions. In this follow-up episode, David joins host Geoff Cockrell to expand on a larger trend in healthcare litigation: Private equity funds are finding themselves legally responsible for the activity of the companies in their portfolio.
Hear how qui tam rules increase the risk of qui tam plaintiffs naming PE funds and why investors have a responsibility to ensure proper conduct. Learn why, the darker the gray area of misconduct, the greater the risk is for everyone involved.
Episode 1: The Professor's Corner, December 2, 2021
In the premier episode of The Professor’s Corner, McGuireWoods partner and host Geoff Cockrell is joined by McGuireWoods partner and complex corporate healthcare litigator David Pivnick. They discuss a recent whistleblower case in Massachusetts that challenged the widely accepted notion that private equity investors are insulated from risk beyond the scope of their financial investment.
Learn about the ruling’s implications for private equity funds and the gray areas of board-driven decision making. Find out about the “one purpose” rule and what Dave deems the red flag of document deliberation.
Media and presentation materials © 2022 McGuireWoods LLP. All rights reserved.