Matthew Albers, a partner in the Vorys Cleveland office and a member of the health care group, was quoted in a Crain’s Cleveland Business story about hospital mergers and acquisitions. According to the story, hospitals have been consolidating at an unprecedented rate in recent years.
The story states:
“Meanwhile, Matthew Albers, an attorney in the health care group at Vorys, Sater, Seymour and Pease LLP in Cleveland, said there are several legal issues that crop up when hospitals consider merging or investing in one another, including navigating the ever-evolving federal and state regulatory framework.
However, most of the sticking points that arise aren't necessarily legally driven. CHS and the Clinic, for instance, couldn't come to terms how a joint venture would be structured, and that's why their deal to take over Akron General soured. ‘Most of what is agreed upon can be legally accomplished,’ Albers said. ‘What tends to break down are discussions about governance, rights of control, rights of information, etcetera. When you get down to putting a deal down on legal documents, those details become much more contentious.’”
To read the entire story, visit the Crain’s Cleveland Business website. (Subscription may be required).