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  • The California Genetic Information Privacy Act: How This Proposed Legislation Fits in the California Privacy Regulation Framework

    There are many laws at the state and federal level that regulate the processing of genetic information.  There may soon be one more. Earlier this month, the California Senate took up consideration of SB 980, the Genetic Information Privacy Act (“GIPA”), which “would prohibit a direct-to-consumer genetic testing services company from disclosing a person’s genetic...

  • Washington Healthcare Update | Feb. 24, 2020

    Senate Twelve Republican Senators Support Grassley-Wyden Drug Pricing Bill As of Feb. 18, Senate Finance Chairman Chuck Grassley (R-IA) and Ranking Member Ron Wyden’s (D-OR) bipartisan drug pricing legislation now has 12 Republican senators in support of the plan. Sen. Grassley said he needs support from at least 25 Republican senators to convince Senate Majority...

  • Fintech Company Avoids Murky Regulatory Landscape by being the First U.S. Fintech Company to Acquire a Regulated Bank

    For the first time, a U.S. fintech company is acquiring a regulated U.S. bank, which will give it access to a stable and cheaper source of funding – as well as a national bank charter. On February 18th, LendingClub, one of the largest providers of personal loans in the U.S., announced that it will pay...

  • Healthcare & Life Sciences Private Equity Deal Tracker: Cimarron Acquires Ascent Behavioral Health

    Cimarron Healthcare Capital has announced it has completed its acquisition of Ascent Behavioral Health. Ascent operates several adolescent behavioral health programs throughout Utah.  Cimarron, based in Bala Cynwyd, Pa., is focused on healthcare investments in the lower middle market. The firm prefers to make more substantial investments in healthcare services and technology companies. Cimarron...

  • Education Policy Update | February 2020

    The State of Education in Washington President Trump released his $4.8 trillion budget proposal for FY 2021 spending last week. The president’s budget aims to cut non-defense spending, including funding for the U.S. Department of Education. President Trump requested $66.6 billion for the Department of Education for FY 2021, which represents a $5.6 billion, or...

  • Washington Healthcare Update | Feb. 17, 2020

    Hearings/Markups House Education and Labor Committee: “Markup: H.R. 5800, Ban Surprise Billing Act” Tuesday, February 11, 2020: The House Education and Labor Committee held a markup for: H.R. 5800, Ban Surprise Billing Act Find more details on the hearing here. Why this is important: The committee approved H.R. 5800, 32-13, to end surprise medical billing. The plan uses...

  • Industry Insight: The CCPA’s Elusive “Reasonable Security” Safe Harbor

    “[P]rivacy legislation should have some kind of safe harbor provision in it so that companies understand that if they take certain steps, what they are doing is consistent with the law.”  Karen Zacharia, Chief Privacy Officer at Verizon The California Consumer Privacy Act (CCPA) provides unparalleled rights for California residents with regard to data privacy. ...

  • Federal Court Upholds CMS’ Use of Extrapolation to Claw-Back Improper Payments

    A recent federal court decision should serve as an important reminder to providers that the Centers for Medicare and Medicaid Services (“CMS”) and its contractors have substantial authority to audit provider Medicare claims and to broadly apply extrapolation to calculate overpayments. In Palm Valley Health Care, Inc. v. Azar, No. 18-41067, 2020 BL 14097 (5th...

  • Healthcare & Life Sciences Private Equity Deal Tracker: Cimarron Sells Linen King Stake to Seaport Capital

    Cimarron Healthcare Capital has announced it has sold its stake in Linen King to Seaport Capital. Linen King, based in Tulsa, Okla., is a provider of outsourced healthcare laundry services to hospitals and healthcare facilities across the mid-South. Cimarron, based in Bala Cynwyd, Pa., is focused on healthcare investments in the lower middle market. The...

  • Congress: Week in Review | Feb. 13, 2020

    Drone Origin Security Enhancement Act On Monday, the House passed H.R. 4753, the Drone Origin Security Enhancement Act. The bill prohibits the Department of Homeland Security from acquiring or operating foreign manufactured unmanned aircraft systems (UAS), or UAS with certain parts manufactured overseas. Also on Monday, Senator Josh Hawley (R-MO) proposed to make the Federal Trade Commission (FTC)

  • California Attorney General’s Modified CCPA Regulations: Top Ten Changes

    On February 7, 2020, the California Attorney General (AG) published a set of Modified Regulations under the California Consumer Privacy Act (CCPA).  The Modified Regulations take into account some of the comments received from the public late last year and make key changes to multiple definitions and provisions, in at least some cases providing more clarity...

  • A View From the Top: Dr. Mark Alfonso of LucidHealth

    Please see below for the latest installment of our interview series, A View From the Top. This series features interviews with C-suite leadership of private equity-backed portfolio companies. This installment features Judson Ivy, founder and CEO of Ensemble Health Partners. To recommend a leader for a future interview, email Holly Buckley at hbuckleymcguirewoods.com. As a reminder,...

  • Next Week in Congress

    Pending Nominations The House and Senate are both in session next week, but will recess the following week coinciding with Presidents Day. With the impeachment trial over, Senate Majority Leader Mitch McConnell (R-KY) has teed up a number of pending nominations for consideration. FY21 Budget President Trump will release his fiscal year 2021 budget on...

  • DOJ announces $5.5 Million Settlement with Concerning Allegations of Undisclosed Grants

    On December 19, 2019, the Department of Justice (DOJ) announced that Van Andel Research Institute (VARI) has agreed to pay $5.5 million to resolve allegations that it violated the False Claims Act by submitting grant applications to the National Institute of Health (NIH) without disclosing Chinese government grants for involved researchers. VARI is an independent...

  • Congress: Week in Review | Feb. 6, 2020

    Impeachment Trial Ends The Senate impeachment trial came to an end this week with the Senate voting on Wednesday to acquit President Trump on charges of abuse of power and obstruction of Congress. The vote largely came down along party lines, with the exception of Senator Mitt Romney (R-UT), who joined Democrats in voting to...

  • Waud Commits $150 Million of Equity to New Healthcare IT Platform

    Waud Capital Partners has announced it has entered into a partnership with John Damgaard to build a healthcare information technology (IT) software platform. Waud Capital has committed $150 million of equity capital to the partnership, which will build the platform via acquisition of companies and assets. Damgaard is a healthcare IT veteran who most recently served as chief...

  • FERC Directs NERC to Amend its Sanctions Guidelines by July 21, 2020

    Entities registered with the North American Electric Reliability Corporation (NERC) to comply with mandatory electric reliability standards (Reliability Standards) or face civil penalties should take note of an order issued by the Federal Energy Regulatory Commission (FERC) on January 23, 2020 in Docket No. RR19-7-000 (January 23 Order).  In the January 23 Order, FERC, which oversees NERC...

  • Virginia Punts Several Privacy-Related Bills to Out of Session Study

    Last week a committee of the Virginia House of Delegates voted to send several privacy-related bills to a legislative commission for study after the current legislative session. Among those bills is the Virginia Privacy Act, proposed as a less onerous version of the California Consumer Privacy Act. Other bills referred for study address topics such...

  • Washington Healthcare Update | Feb. 3, 2020

    Hearings/Markups House Committee on the Judiciary, Subcommittee on Crime, Terrorism, and Homeland Security: “Fentanyl Analogues: Perspectives on Classwide Scheduling” Tuesday, January 28, 2020: The Subcommittee on Crime, Terrorism, and Homeland Security on Judiciary held a hearing on the fentanyl crisis, and the wider discussion of prescription drug scheduling practices. Find more details on the...

  • Up-and-Coming Women in PE to Know: Kristin Archer

    McGuireWoods is continuing its effort to profile up-and-coming women leaders in private equity. This profile series complements our existing Women Leaders in Private Equity profile series. For this profile, we are pleased to feature Kristin Archer of Trivest Partners. Access her profile. To recommend a rising star for a future interview, email Amber Walsh at awalshmcguirewoods.com.

  • Congress: Week in Review | Jan. 30, 2020

    Impeachment Trial The Senate impeachment trial of President Trump continued this week, with the House managers concluding their argument on Friday. The President’s Counsel presented their defense this week. The duration of the trial remains to be determined as senators consider whether to call witnesses, notably former National Security Advisor John Bolton. Review of NTIA’s...

  • Healthcare & Life Sciences Private Equity Deal Tracker: Tryko Partners Acquires Philadelphia Skilled Nursing Center

    Tryko Partners has announced it has acquired Glendale Uptown Home. Glendale Uptown Home, renamed Roosevelt Rehabilitation & Healthcare Center, is a 240-bed skilled nursing center in Philadelphia. The purchase follows similar investments made by Tryko in two other area skilled nursing facilities in and near Philadelphia. Tryko Partners, based in Brick, N.J., is private equity...

  • Washington Healthcare Update | Jan. 27, 2020

    House Energy and Commerce Asks FDA Commissioner for Details on Complex Generic Drugs On Jan. 17, the House Committee on Energy and Commerce Chairman Frank Pallone (D-NJ), ranking member Greg Walden (R-OR), health subcommittee Chairwoman Anna Eshoo (D-CA) and ranking member Michael Burgess (R-TX) as well as oversight subcommittee Chairwoman Diana DeGette (D-CO) and oversight...

  • Next Week in Congress

    Impeachment Trial Continues, House Returns The House will return to Washington next week as the Senate carries on with its impeachment trial. While Senate committee hearings are largely on hold, House committees will resume business as usual and examine topics including U.S. competitiveness in critical technologies and the rise of mobile payments. Rural Digital Opportunity...

  • Healthcare & Life Sciences Private Equity Deal Tracker: Frazier Healthcare Partners Acquires EPTAM

    Frazier Healthcare Partners has announced it has acquired EPTAM Precision Solutions. EPTAM, with locations in New Hampshire, Colorado and New Jersey, is an outsourced manufacturer of medical device and other components, medical implants and system assemblies. The company states it has particular expertise with plastic-, metal- and injection-molded components Frazier Healthcare Partners, based in...

  • Washington Healthcare Update | Jan. 21, 2020

    Hearings/Markups House Committee on Energy and Commerce: “A Public Health Emergency: State Efforts to Curb the Opioid Crisis” Tuesday, January 14, 2020: The Subcommittee on Oversight and Investigations of the Committee on Energy and Commerce held a hearing on actions taken by states to address the current opioid crisis. Why this is important: Common themes from the...

  • Women in PE to Know: Katie Harris Storer

    McGuireWoods has long been an avid supporter of the advancement of professional women. As part of our initiative seeking to expand the leadership of women in private equity, we are continuing our series of profiling women leaders in private equity. We are hopeful that this series will serve to inspire other women to pursue their...

  • DOJ Releases FY 2019 False Claims Act Statistics with Numbers that Highlight the Focus on the Healthcare Industry

    The U.S. Department of Justice (DOJ) Office of Public Affairs recently released a report detailing the settlements and judgments from civil cases involving fraud and abuse claims obtained in fiscal year 2019.  In total, the DOJ reports that it obtained more than $3 billion during FY 2019, the substantial majority of which ($2.6 billion) involved...

  • Next Week in Congress

    Online Platforms and Market Power, Part 5: Competitors in the Digital Economy On Friday, the House Antitrust Subcommittee will hold a field hearing at the University of Colorado, Boulder Law School. The hearing is titled “Online Platforms and Market Power, Part 5: Competitors in the Digital Economy” and will include testimony from the CEOs of Sonos, Popsocket,...

  • Healthcare & Life Sciences Private Equity Deal Tracker: WindRose Sells Trust Healthcare Consulting Services

    WindRose Health Investors has announced it has completed the sale of its portfolio company, Trust Healthcare Consulting Services (TrustHCS). TrustHCS was acquired by a joint venture established by an affiliate of The Carlyle Group and Cannae Holdings. TrustHCS, based in Springfield, Mo., is a provider of staffing and advisory services for coding, clinical documentation improvement,...

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