Gary W. Herschman, a Member of the Firm in the Health Care and Life Sciences practice, in the firm’s Newark office, was quoted in the Bloomberg BNA Health Care Daily Report, in “Who You Gonna Call? Health-Care Deal Attorney Hiring Strategies,” by Mary Anne Pazanowski. (Read the full version – subscription required.)
Following is an excerpt:
Deal activity is booming in the health-care industry, and choosing the right legal team is essential to the success of any health-care transaction.
From January to October 2017, Bloomberg Law has tracked over 400 transactions involving billions of dollars in various health-care sectors. With over $17 billion in health-care deals in the third quarter alone, according to one report, that translates into a lot of billable hours for the firms that help put together these deals, which can range from mergers and acquisitions to physician practice consolidations and private equity investment. …
Health-care attorneys who specialize in transactions offer cost-effective services because, in addition to handling transaction agreements, they also have a deep understanding of the health-care industry and the regulations that guide it, Gary Herschman. a health-care deal lawyer with Epstein Becker & Green PC in New York and Newark, N.J., told Bloomberg Law.
Multiple regulatory issues and potential liabilities can lurk in any health-care transaction, ranging from potential federal False Claims Act liability exposure to state-law provider licensing and accreditation questions, Herschman said. Health-care attorneys can spot these issues readily and have the skills to get them resolved quickly, he said.
Health-care is a very heavily regulated industry, and deals may progress more smoothly and efficiently if the lawyers guiding it know the field well, Herschman said. He added that the need for this high degree of specialization has increased in the past 10 years—at least since it became clear that health-care reform was happening under the Obama administration, he said.
Herschman is a Bloomberg Law advisory board member.
