JD Supra: Mergers

SEPTEMBER 25, 2023

Federal Trade Commission (“FTC”) antitrust lawsuit against a private-equity owner of a large anesthesiology practice in Texas demonstrates that the FTC has begun to implement its more aggressive focus on the perceived competitive harms caused by certain “roll-up” acquisition strategies. A recent U.S.

Private Equity 171

Private Equity Equities Acquisitions Trading 171

JD Supra: Mergers

MARCH 8, 2024

On March 5, the Federal Trade Commission (FTC) hosted a public workshop titled “Private Capital, Public Impact: An FTC Workshop on Private Equity in Health Care.” The event is part of the agency’s effort to publicize and encourage enforcement targeting private equity investments in health care.

Private Equity 188

Private Equity Equities Capital Trading 188

TechCrunch: M&A

OCTOBER 17, 2024

Zuora, a company selling software to help businesses manage their subscription-based services, has agreed to be acquired by private equity firms GIC and Silver Lake for $1.7 It’ll take Zuora, which is currently publicly traded, private. Tien […] © 2024 TechCrunch. All rights reserved.

Management 327

Management Private Equity Public Trading Equities 327

JD Supra: Mergers

MAY 17, 2024

In Federal Trade Commission v. Anesthesia Partners, Inc.

Private Equity 177

Private Equity Equities Trading IT 177

JD Supra: Mergers

MAY 30, 2024

The Federal Trade Commission’s (FTC) push against private equity roll-ups has hit a snag. Judge Hoyt found that the FTC had not adequately alleged that Welsh Carson “is violating” or “is about to violate” antitrust laws, as required under.

Private Equity 188

Private Equity Equities Trading 188

JD Supra: Mergers

MARCH 8, 2024

A recent government initiative announced on March 5, 2024 signals that more antitrust scrutiny for private equity firms and asset managers is on the horizon. By: Paul Hastings LLP

Private Equity 165

Private Equity Equities Healthcare Asset Management 165

TechCrunch: M&A

OCTOBER 17, 2024

Website builder Squarespace is no longer a publicly traded company, after private equity firm Permira procured all remaining common stock in the firm. Permira first revealed plans to acquire Squarespace back in May, offering shareholders in the NYSE-traded company $44 per share — this equated to an equity valuation of $6.6

Private Equity 321

Private Equity Acquisitions Public Trading Valuation 321

JD Supra: Mergers

SEPTEMBER 27, 2023

The Federal Trade Commission (FTC) on Sept. 21, 2023, sued a private equity firm in the U.S. District Court for the Southern District of Texas over an alleged decade-long "roll-up" strategy to consolidate anesthesiology practices in Texas. By: Holland & Knight LLP

Private Equity 171

Private Equity Equities Portfolio Trading 171

JD Supra: Mergers

MAY 24, 2024

By now you have probably heard of the Federal Trade Commission (FTC)’s rule to ban most post-employment non-compete agreements.

Private Equity 188

Private Equity M&A Equities Trading 188

JD Supra: Mergers

OCTOBER 9, 2023

At the end of September, the Federal Trade Commission sued a private equity firm, Welsh, Carson, Anderson & Stowe, and U.S. Anesthesia Partners, Inc. By: Venable LLP

Private Equity 165

Private Equity Equities Acquisitions Trading 165

JD Supra: Mergers

MARCH 12, 2024

On March 6, the Federal Trade Commission (“FTC”), the Department of Justice’s Antitrust Division (“DOJ”), and the Department of Health and Human Services (“HHS”) (the “Agencies”) announced that they were “launching a cross-government public inquiry into private equity and other corporations’ increasing control over health care.”.

Private Equity 183

Private Equity Equities Government Corporation 183

JD Supra: Mergers

MARCH 13, 2024

Private equity investment in the health care sector continues to be a significant area of focus for the U.S. On March 5, 2024, the Federal Trade Commission (FTC) hosted a public workshop to “examine the role of private equity investment in health care markets” (the FTC workshop). antitrust agencies.

Private Equity 159

Private Equity Equities Investment Trading 159

JD Supra: Mergers

JUNE 12, 2024

On June 6, 2024, California Attorney General Rob Bonta announced that he led a multistate coalition of eleven (11) state attorneys general in in submitting a comment letter (the “Comment Letter”) in response to the Federal Trade Commission, the U.S. Department of Justice, and the U.S. By: Sheppard Mullin Richter & Hampton LLP

Private Equity 171

Private Equity Healthcare Equities Trading 171

JD Supra: Mergers

MAY 29, 2024

In a decision with significant implications for private equity firms and minority investors, on May 13, 2024, the US District Court for the Southern District of Texas dismissed the Federal Trade Commission’s (FTC) suit against a fund of private equity firm Welsh, Carson, Anderson & Stowe (Welsh Carson) that is a minority investor in US Anesthesia (..)

Private Equity 171

Private Equity Equities Investors Funds 171

JD Supra: Mergers

MAY 21, 2024

On May 13, a federal district court in Texas dismissed private equity firm Welsh, Carson, Anderson & Stowe (Welsh Carson) from an antitrust lawsuit filed by the Federal Trade Commission (FTC). The lawsuit, which was originally filed in 2023, alleged that Welsh Carson and co-defendant U.S. Anesthesia Partners, Inc.

Private Equity 171

Private Equity Equities Trading 171

JD Supra: Mergers

MAY 22, 2024

On 13 May, a federal district court judge dismissed the Federal Trade Commission’s (FTC) antitrust case against private equity firm Welsh, Carson, Anderson & Stowe and affiliated entities (Welsh Carson). The FTC’s case alleged that Welsh Carson, along with its portfolio company, US Anesthesia Partners, Inc.

Private Equity 165

Private Equity Equities Portfolio Trading 165

JD Supra: Mergers

MAY 17, 2024

The Federal Trade Commission’s suit alleging U.S. Anesthesia Partners (USAP) and Welsh Carson, a private equity fund that owns 23 percent of USAP and controls two of 14 board seats, engaged in an anticompetitive scheme to acquire and consolidate anesthesia practices in Texas partially survived motions to dismiss by the two defendants.

Private Equity 171

Private Equity Equities Trading Funds 171

JD Supra: Mergers

SEPTEMBER 26, 2023

The Federal Trade Commission (FTC), under the leadership of Chairperson Lina Khan, has for the past several years signaled its intent to ramp up enforcement of the antitrust laws in the health care and private equity spaces. Last week, the FTC gave teeth to these policy proclamations and sued both U.S. Anesthesia Partners, Inc.

Private Equity 159

Private Equity Equities Acquisitions Trading 159

OfficeHours

AUGUST 9, 2023

To know if the buyside is right for you, let’s start with a textbook understanding of “What is private equity?” Private equity involves investing capital directly into private businesses that are not publicly traded on stock exchanges (that would be a hedge fund). Strategic thinking skills are essential.

Private Equity 130

Private Equity Equities Investment Banking Investment 130

JD Supra: Mergers

MAY 8, 2024

The recent Request for Information by the Federal Trade Commission (FTC), Department of Justice (DOJ) and Department of Health and Human Services (HHS) seeking input on the effects of private equity (PE) investment in the healthcare sector underscores the importance of an effective compliance program.

Private Equity 177

Private Equity Equities Portfolio Healthcare 177

OfficeHours

JULY 18, 2023

In the pursuit of attractive equity returns, private equity firms have developed numerous innovative strategies beyond typical leveraged buyouts and take-private transactions. As it happens, this is an industry that has experienced a significant amount of private equity-backed roll-up activity.

Private Equity 130

Private Equity Equities Investment Mergers and Acquisitions 130

JD Supra: Mergers

MARCH 13, 2025

On March 6, 2025, the Federal Trade Commission (FTC) filed a lawsuit in federal court challenging GTCR BC Holdings, LLC's (GTCR) proposed acquisition of Surmodics, Inc. Surmodics).

Private Equity 197

Private Equity Medical Equities Mergers 197

JD Supra: Mergers

AUGUST 22, 2023

The Federal Trade Commission (“FTC”), the Department of Justice Antitrust Division (“DOJ”), and the new proposed merger guidelines have all called out private equity transactions for particular scrutiny.

Private Equity 130

Private Equity Equities Shares Sale 130

OfficeHours

AUGUST 25, 2023

In recent years, private credit has emerged as an important financing source for corporations of all kinds, especially for private equity-owned businesses with high financial leverage. The growth of private credit can be traced back to the Great Financial Crisis of 2008-2009. What impact has this had on private equity?

Private Equity 130

Private Equity Equities Debt Finance 130

JD Supra: Mergers

JULY 19, 2023

As described in our Client Alert of July 6, 2023, the Federal Trade Commission (FTC) and the Department of Justice (DOJ) proposed on June 27, 2023, a massive overhaul of the Hart-Scott-Rodino Act (HSR) pre-merger notification form. We focus here on antitrust risk and burden implications for private equity transactions specifically.

Private Equity 130

Private Equity Equities Mergers Funds 130

JD Supra: Mergers

DECEMBER 22, 2023

Earlier this week, the Department of Justice (“DOJ”) and Federal Trade Commission (“FTC”) released the long-awaited 2023 Merger Guidelines. The final guidelines are the result of nearly two years of behind-the-scenes drafting, numerous public listening sessions and workshops, and the receipt of some 35,000 public comments. By: Polsinelli

Private Equity 197

Private Equity Mergers M&A Equities 197

JD Supra: Mergers

MAY 21, 2024

The FTC’s recent campaign against private equity roll-ups hit a stumbling block on May 13 as the United States District Court for the Southern District of Texas tossed out the Federal Trade Commission’s antitrust claims against private equity firm Welsh Carson Anderson & Stowe. By: Womble Bond Dickinson

Private Equity 171

Private Equity Equities Trading 171

JD Supra: Mergers

MARCH 12, 2024

On March 5, the Federal Trade Commission (FTC), U.S. Department of Justice’s Antitrust Division (DOJ), and Department of Health and Human Services (HHS) jointly issued a Request for Information on Consolidation in Health Care Markets (the RFI), with a particular focus on private equity (PE) buyouts. By: Lowenstein Sandler LLP

Private Equity 183

Private Equity Equities Funds Trading 183

JD Supra: Mergers

JUNE 12, 2024

A Texas federal court dismissed the Federal Trade Commission’s (FTC) lawsuit against private equity (PE) owner, Welsh, Carson, Anderson & Stowe (Welsh Carson), while allowing to proceed the agency’s challenge against U.S. Anesthesia Partners’ (USAP) series of acquisitions. By: Troutman Pepper

Private Equity 183

Private Equity Equities Trading Acquisitions 183

The New York Times: Mergers, Acquisitions and Dive

SEPTEMBER 21, 2023

The federal agency claims the company’s practices amount to antitrust activity, a new salvo in the government’s scrutiny of health care consolidation that has led to higher prices.

Private Equity 142

Private Equity Equities Mergers and Acquisitions Insurance 142

JD Supra: Mergers

MARCH 12, 2024

After much rhetoric and a setback in challenging state Certificate of Public Advantage (COPA) laws, the Federal Trade Commission (FTC) brought its first challenge to a private equity “roll-up” scheme and successfully blocked two mergers late in 2023. By: Goodwin

Healthcare 192

Healthcare Private Equity Mergers Equities 192

Deal Lawyers

SEPTEMBER 13, 2023

In early September, six trade associations jointly filed a lawsuit in federal court challenging the validity of the SEC’s recently adopted Private Fund Adviser Rules. We’ve previously blogged about the content of the new rules and criticisms by two SEC Commissioners.

Private Equity 124

Private Equity Funds Equities Trading 124

JD Supra: Mergers

NOVEMBER 30, 2023

As reported in a prior blog post, the Federal Trade Commission (“FTC”) filed suit in federal district court in September alleging that U.S. Anesthesia Partners, Inc.

Private Equity 192

Private Equity Profitability Equities Trading 192

JD Supra: Mergers

APRIL 15, 2024

In Part I of this two-part update, we discussed recent lawsuits involving private equity firms, lawsuits filed by the Federal Trade Commission (“FTC”) and those filed by healthcare system competitors and purchasers of healthcare services. In this Part II, we discuss the launch by the FTC, along with the U.S.

Private Equity 192

Private Equity Healthcare Equities Trading 192

JD Supra: Mergers

SEPTEMBER 27, 2023

21, 2023, the Federal Trade Commission (FTC) brought a lawsuit in the U.S. District Court for the Southern District of Texas against US Anesthesia Partners (USAP), a large healthcare provider platform, and private equity firm Welsh, Carson, Anderson and Stowe (WC), which has been a principal investor in USAP for many years.

Private Equity 171

Private Equity Healthcare Acquisitions Equities 171

JD Supra: Mergers

SEPTEMBER 26, 2023

The Federal Trade Commission (FTC) and the US Department of Justice (DOJ) Antitrust Division (the Division) have concurrent authority to enforce Section 8 of the Clayton Act. Last year, we previewed the Division’s investigation of private equity (PE) sponsors in connection with potential interlocking directorates.

Private Equity 177

Private Equity Equities Trading 177

JD Supra: Mergers

MAY 29, 2024

In a prior post, we discussed the Federal Trade Commission’s (“FTC”) lawsuit against U.S. Anesthesia Partners (“USAP”) and the private equity firm Welsh, Carson, Anderson & Stowe (“Welsh Carson”). Most recently, the U.S.

Private Equity 171

Private Equity Equities Trading 171