Biography

When health care companies undergo a major strategic transaction through mergers, acquisitions, consolidations, joint ventures, partnerships, buyouts, or new affiliations, Gary Herschman drives these important transactions to a successful closing. His leadership of deal teams protects his clients’ financial interests, in a regulatorily compliant manner. A skilled negotiator in major deals of any size—small ($5-$25 million), middle market ($30-$200 million), and large ($250 million to billion-dollar deals)—Gary balances the concerns of all parties, including physician groups, hospitals and health systems, ambulatory surgery centers (ASCs), imaging centers, clinics and home health companies, lenders, investors, and state departments of health, to effectively structure and close complex deals.

Buyers and sellers benefit from Gary’s decades of experience on both the buy-side and sell-side of deals. His strategies for sellers maximize valuation, financial protections, and key clinical objectives. Gary helps physician practices, hospitals, and other health care clients sell their business or enter new partnerships and affiliations. He handles transactions in almost every state. Clients value Gary’s “real time” communications and his deep business, legal, and practical insights gained from more than 30 years of negotiating and closing deals. 

Because of his extensive knowledge of health law, Gary is frequently approached to opine on a variety of cutting-edge issues for respected industry publications, author articles, and present at association and industry conferences. He has been quoted in such publications as Becker's, Bloomberg, Crain’s, Pitchbook, FierceHealthcare, Healio, Orthopedics Today, Modern Healthcare, The Medical Group Management Association (MGMA), and the New Jersey Law Journal. He also publishes articles in those publications and others, including HCCA’s Compliance Today, the Journal of Orthopaedic Experience & Innovation, Ophthalmology Management, Scale Platform Insights, AHLA’s Health Law Connections, LUGPA’s Practice Guidebook, and The Governance Institute's E-Briefings.

Gary has been invited to address attendees of industry conferences hosted by Cain Brothers, AllianceBernstein, the Denver Medical Study Group, the International Congress for Joint Reconstruction, MGMA, the Large Urology Group Practice Association (LUGPA), American Health Lawyers Association (AHLA), Expert Webcast, the New Jersey Doctor-Patient Alliance, and the Pennsylvania Radiology Society, among others.

Experience: Hospital, Physician Group, and Health Care Investor Transactions:

  • Hospital Transactions
    • Negotiated and closed a large New Jersey health care merger between client Kennedy Health System, located in southern New Jersey, and Thomas Jefferson University, a Pennsylvania university and health system.
    • Negotiated definitive agreements for the Floyd Health system in Northwest Georgia to become part of the Atrium Health system.
    • Advised a national for-profit hospital chain on the separate acquisitions of hospitals in New Jersey, Rhode Island, and Connecticut. 
    • Advised a hospital in Colorado in connection with various strategic transactions and partnerships.
    • Advised a hospital system in Missouri on multiple strategic partnerships and a system-wide restructuring.
    • Represented Saint Barnabas Healthcare System on the acquisition of multiple hospitals throughout New Jersey.
    • Currently representing an investor on the acquisition of hospitals in multiple states, including Florida, New York, and New Jersey.
    • Advised Coordinated Health system (specialty hospitals and clinics) in its sale to Lehigh Valley Health System.
  • Physician Group Transactions
    • Represented The Steadman Clinic (Colorado) in its strategic partnership transaction with Orthopedic Care Partners (Varsity).
    • Currently representing five orthopedic practices in the Northeast and Southwest in partnership deals with private equity-backed platforms.
    • Currently advising two large orthopedic groups in the Midwest on MSO formation and other transactions and affiliations. 
    • Advised two urology groups in the Southwest on becoming part of private equity backed platform.
    • Currently advising one of the largest ENT practices on its MSO formation and negotiations with investor platforms and potential strategic acquirors.
    • Currently representing different physician groups in 12 states on strategic affiliations with hospital systems, including PSAs, joint ventures, and clinical affiliations.
    • Advised several ophthalmology and retina groups on negotiating and closing transactions with private equity platforms.
    • Advised major dermatology groups in the Northeast on private equity transactions and other partnership transactions.
    • Counseled a gastroenterology group in the Northwest on a major private equity partnership transaction.
    • Advised a 150+ multispecialty practice in the Northeast on its strategic transaction with Optum.
    • Advised a midsize primary care group in New York City on its acquisition by the largest physician practice in the region. 
  • Health Care Investor Transactions
    • Currently representing one of the largest regional ASC companies (with 12 centers) in its acquisitions of multiple additional surgery centers in New York and New Jersey. 
    • Represented a major home health company in the Northeast on multiple acquisitions in several states over the years, which is now one of the largest providers in the region.
    • Currently advising one of the largest national anesthesiology companies in connection with acquisitions and strategic joint ventures in multiple states.
    • Currently advising a national radiology company investor in connection with several add-on acquisitions.
    • Represented an investor-based platform in connection with the consolidation of fertility practices across the country.
Education
  • The George Washington University Law School (J.D., 1989)
    • Order of the Coif
    • Editor, The George Washington Law Review
  • Lafayette College (B.A., 1986)
    • summa cum laude
    • Phi Beta Kappa
Bar Admissions
  • New Jersey
  • New York
  • District of Columbia
  • Maryland
Memberships
  • American Health Lawyers Association: 
    — Fraud & Abuse Practice Group: Vice Chair (June 2011 to May 2017), Chair (June 2017 to 2020)
    — Enforcement Committee (2010 to 2011)
  • Bloomberg Law’s Health Law & Business – Editorial Advisory Board Member
  • Compliance Today – Editorial Board Member
  • Center for Health & Pharmaceutical Law & Policy at Seton Hall Law School – Advisory Board Member
  • Healthcare Financial Management Association – New Jersey and New York Chapters
  • American Bar Association – Health Law Forum
  • American College of Healthcare Executives
  • New Jersey State Bar Association – Health & Hospital Law Section
    — Health Law Section Delegate, NJSBA General Council
  • New York State Bar Association – Health Law Forum
Board of Directors
  • Epstein Becker & Green, P.C. (2015 to present)
  • Circle of Life Children’s Center, Inc. (2012 to 2013)
  • The Make-A-Wish Foundation of New Jersey (2005 to 2008)
Recognition
  • The Best Lawyers in America, Health Care Law (2010 to 2021); Lawyer of the Year (2019)
  • Chambers USA Chambers USA: The World's Leading Lawyers for Business, New Jersey—Healthcare, Band 1 (2006 to 2021)
  • The Legal 500 United States, Healthcare: Service Providers (2017 to 2019); M&A: Middle Market (Sub-$500 Million) (2017 to 2021)
  • New Jersey Law Journal Professional Excellence 2020 Award: Dealmakers
  • New Jersey Super Lawyers, Health Care (2005 to 2020)
  • Martindale-Hubbell, AV Preeminent Rated