Overview
When health care companies undergo a major strategic transaction through mergers, acquisitions, consolidations, joint ventures, partnerships, buyouts, or new affiliations, health care transactional attorney Gary Herschman drives these important transactions to a successful closing. His leadership of deal teams protects his clients’ financial interests, in a regulatory 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 or consolidate their businesses 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 care transactional 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, the American Health Lawyers Association's (AHLA) Health Law Connections, the Large Urology Group Practice Association's (LUGPA) 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, LUGPA, AHLA, Expert Webcast, the New Jersey Doctor-Patient Alliance, and the Pennsylvania Radiology Society, among others.
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Focus Areas
Services
Experience
Results may vary depending on your particular facts and legal circumstances.
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.
- 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 acquirers.
- 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.
Recognition
Listed in:
- The Best Lawyers in America, Health Care Law (2010 to 2024); "Lawyer of the Year," Health Care Law—Newark (2019, 2022). This award is conferred by Best Lawyers. A description of the selection methodology is available here. No aspect of this advertisement has been approved by the Supreme Court of New Jersey.
- Chambers USA: The World's Leading Lawyers for Business, New Jersey—Healthcare, Band 1 (2006 to 2023). This award is conferred by Chambers and Partners. A description of the selection methodology is available here. No aspect of this advertisement has been approved by the Supreme Court of New Jersey.
- The Legal 500 United States, Healthcare: Service Providers (2017 to 2019); M&A: Middle Market (Sub-$500 Million) (2017 to 2023). This award is conferred by The Legal 500. A description of the selection methodology is available here. No aspect of this advertisement has been approved by the Supreme Court of New Jersey.
- New Jersey Law Journal, Professional Excellence Award: Dealmakers (2020). This award is conferred by the New Jersey Law Journal. A description of the selection methodology is available here. No aspect of this advertisement has been approved by the Supreme Court of New Jersey.
- New Jersey Super Lawyers, Health Care (2005 to 2023). This award is conferred by Thomson Reuters. A description of the selection methodology is available here. No aspect of this advertisement has been approved by the Supreme Court of New Jersey.
- Martindale-Hubbell, “AV Preeminent” Rating. This award is conferred by Martindale-Hubbell. A description of the selection methodology is available here. No aspect of this advertisement has been approved by the Supreme Court of New Jersey.
Credentials
Education
- The George Washington University Law School (J.D., 1989)
- Order of the Coif
- Editor, The George Washington Law Review
- Lafayette College (B.A., summa cum laude, 1986)
- Phi Beta Kappa
Bar Admissions
- District of Columbia
- Maryland
- New Jersey
- New York
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)
Professional & Community Involvement
- American Health Lawyers Association: — Fraud & Abuse Practice Group: Vice Chair (June 2011 to May 2017), Chair (June 2017 to Present) — 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
Media
Events
Upcoming Events
Past Events
- Fall 2023
- Fall 2023
- Fall 2023
- Fall 2023
- Fall 2023
Insights
Insights
- Media Coverage
Gary Herschman, Dana Jacoby Featured in The Ortho Show Podcast: Hosted by Dr. Scott Sigman
2 minute read - Media CoverageEpstein Becker Green Update Cited in “Physicians Could Be in Financial Danger with This Stark Law Change”2 minute read
- Firm Announcements
Epstein Becker Green Attorneys Recognized by 2024 Best Lawyers for Excellence in the Legal Profession
12 minute read - BlogsPhysicians Beware! Groups Providing DME, Prosthetic Devices, and Other Medical Supplies to Their Medicare Patients Risk ...9 minute read
- BlogsNew York State Enacts New Notice Requirements Targeting Private Equity Health Care Transactions7 minute read
- Media Coverage
Epstein Becker Green Attorneys Mentioned in Business Today
1 minute read - Media CoverageGary Herschman Discusses “Why So Many Physician Groups Are Turning to Private Equity”2 minute read
- PublicationsWhy So Many Physicians Are Partnering with Private Equity2 minute read
- Firm Announcements
Epstein Becker Green Earns National Recognition and High Rankings in the 2023 Edition of Legal 500
3 minute read - Firm Announcements
Epstein Becker Green Recognized for Focused Excellence Across Core Practice Areas in Chambers USA 2023
5 minute read - Firm Announcements
Seventeen Epstein Becker Green Attorneys Named to the 2023 New Jersey Super Lawyers and Rising Stars Lists
6 minute read - Media CoverageGary Herschman Featured in “Video: Private Equity Transactions Still Lucrative Despite Decrease in Market Value” ...2 minute read
- Media CoverageGary Herschman Featured in “Video: Private Equity Aims to Grow, Not Change, Physician Practices”2 minute read
- Media CoverageGary Herschman Quoted in “The Big Picture: What Is Driving Physician Practice M&A?”2 minute read
- Media CoverageGary Herschman Featured in “Video: Private Equity Market Still Robust for Physician Groups”2 minute read
- Media CoverageGary Herschman Quoted in “Takeaways from the 6th Annual Physician Transactions Conference”2 minute read
- Media CoverageGary Herschman Quoted in “AAOS 2023: Implementing and Scaling New Technologies in a ‘Post-COVID World’” ...4 minute read
- PublicationsPrivate Equity Partnerships with Orthopedic Groups2 minute read
- Media CoverageGary Herschman Quoted in “Private Equity's New Target Could Be Good News for ASCs”2 minute read
- Media CoverageGary Herschman Featured in Podcast: “Two Healthcare Transaction Specialists Give Us a Better Understanding of Private ...1 minute read
- Media CoverageGary Herschman Quoted in “Private Equity's Growth in Orthopedics Leads to Cost, Quality Concerns”1 minute read
- Media CoverageGary Herschman Quoted in “More Orthopedic Physicians Sell Out to Private Equity Firms, Raising Alarms About Costs and ...3 minute read
- Media CoverageGary Herschman Quoted in “Strategic Partnerships with Private Equity Firms: What ASCs Need to Know”5 minute read
- PublicationsGary Herschman Discusses Consolidation in the Ophthalmic Market in Q&A with Dana Jacoby4 minute read
- Firm Announcements
Epstein Becker Green Attorneys Recognized by 2023 Best Lawyers for Excellence in the Legal Profession
11 minute read - Media CoverageBehavioral Health Business Features Analysis by Gary Herschman, Anjana Patel, and Tim McHale of Health Care Deals in Second ...2 minute read
- PublicationsSecond Quarter Sees Slight Slowdown in Health-Care Deals3 minute read
- Media CoverageGary Herschman, Anjana Patel, Tim McHale Quoted in “Health-Care Dealmaking Slows as US Inflation Hits Record High” ...3 minute read
- Firm Announcements
2022 Edition of The Legal 500 Recognizes Epstein Becker Green with High Rankings in Health Care and Workforce Management ...
3 minute read - Firm AnnouncementsChambers USA 2022 Recognizes Epstein Becker Green's Focused Excellence in Core Practice Areas: Distinguished in ...4 minute read
- Media CoverageGary Herschman, Anjana Patel, Tim McHale Quoted in “Health-Care Deals Stay on Pace Despite Rising Interest Rates” ...3 minute read
- Media CoverageGary Herschman Quoted in “Private Equity Has Its Heart Set on Cardiology”1 minute read
- PublicationsHealth-Care Deals Open 2022 at Slower Pace than Last Year3 minute read
- Media Coverage
Gary Herschman Featured in Transforming Healthcare with Dr. Wael Barsoum Podcast: “Investing in Tomorrow”
1 minute read - Media CoverageGary Herschman Featured in Video: “New Investment Provides ‘Second Bite’ Transaction to Physician Practices” ...2 minute read
- Media CoverageGary Herschman Featured in Video: “Consider a Partner’s Culture Prior to a Private Equity Transaction”3 minute read
- Media CoverageGary Herschman Featured in Video: “Due Diligence Required for Physician Practices Prior to Private Equity ...2 minute read
- Media CoverageGary Herschman Featured in Video: “Several Factors May Increase Trend of Private Equity Transactions with Physician ...3 minute read
- Media CoverageGary Herschman, Anjana Patel, Tim McHale Quoted in “Health-Care Dealmaking Slows Amid Inflation, Russian Invasion” ...2 minute read
- Media CoverageGary Herschman Discusses Why US Orthopedics Deal Activity Shrugs Off Pandemic in Q&A with Dana Jacoby3 minute read
- Firm Announcements
Fourteen Attorneys Named to the 2022 New Jersey Super Lawyers and Rising Stars Lists
4 minute read - Media CoverageGary Herschman Quoted in “Study: Private Equity Linked to Higher Anesthesia Costs”2 minute read
- Media Coverage
Epstein Becker Green’s Physicians Transactions Conference Featured in Orthopedics This Week: “While at AAOS, Get ...
2 minute read - Media CoverageGary Herschman, Anjana Patel, Timothy McHale Quoted in “Health-Care Deals Stay Strong Amid Fears Over War in Ukraine” ...3 minute read
- PublicationsPrivate Equity Partnerships with Orthopedic Groups: Key Considerations3 minute read
- Media Coverage
Gary Herschman Featured in The Ortho Show Podcast: Private Equity in Orthopedics
2 minute read - PublicationsRecord Number of Health-Care Deals Close 2021 with a Bang4 minute read
- Media Coverage
Gary Herschman Featured in Becker’s Healthcare Podcast, “Healthcare Mergers & Acquisitions: What Was and Is to Come” ...
1 minute read - Media Coverage
Gary Herschman Featured in the Wealth Planning for the Modern Physician Podcast: “Medical Practice Mergers & ...
3 minute read - Media CoverageGary Herschman, Anjana Patel, Zachary Taylor Quoted in “Investor Appetite for Health Deals ‘Insatiable’ as Omicron ...2 minute read