John B. Beard

Represented a publicly traded health care company in settling an employee classification audit with the Internal Revenue Services (IRS) that could have resulted in an assessment of millions of dollars. The audit involved a proposed reclassification of thousands of surgeons and optometrists as employees and not independent contractors. We assisted our client in the management and settlement of this audit for a nominal sum.

Represented a regional nonprofit health system in purchasing an ambulatory surgery center joint venture and its conversion to provider-based status.

Represented a large teaching hospital in its negotiations with faculty practice plan physicians to form a new faculty practice plan structure.

Represented a non-profit hospital in establishing coverage and hospitalist professional services arrangements with various specialties, including cardiovascular surgery, cardiology, pulmonology/intensivist, neurology and telemedicine services, and structuring fair market value compensation.

Represented an independent community hospital in negotiating a strategic affiliation agreement to join a clinically integrated network.

Represented a for-profit company in purchasing a 140-bed acute care hospital from a local governmental instrumentality.

Represented nonprofit hospital in structuring and consummating a physician joint venture serve as a freestanding radiation oncology clinic.

Represented a joint venture to acquire a large multispecialty physician group; a 35-physician practice with seven clinic locations. The $4 million transaction involved the purchase of stock of the medical practice and the acquisition of the assets of its independent, unrelated management services organization.

Represented a nonprofit health system in its purchase of the remaining 50 percent membership interest in two outpatient imaging centers owned by LLCs, through a cross purchase of the local radiology group's membership interest, and an asset purchase of a related billing and management services LLC owned by the radiologists in exchange for a cash purchase price of approximately $6 million.

Represented an acute care medical facility in a $10.5 million transaction to lease the facility to a nonprofit corporation. Drafted state legislation authorizing the county and the board of governors of the local county hospital to lease the facility.

Represented a hospice provider in the sale of its companies to a private equity-backed buyer, with a transaction value of approximately $25 million.

Represented a hospital in the formation of a joint venture with a health insurance company to create a $10 million medical services clinic. Assisted with all aspects of the joint venture, including the lease of office space, employee lease agreements, documentation for the new limited liability company, technology services agreements, and regulatory review issues.

Represented a regional health care system in a $4 million joint venture with a radiology group to form a new Independent Diagnostic Testing Facility (IDTF). Assisted with all aspects of the joint venture, including governance, leases, obtaining a certificate of need, and drafting agreements.

Represented a tax exempt trade association in its sale of interest in an ePrescribing software platform to a private equity buyer, along with other industry owners, in a transaction valued at $1.8 billion. 

Represented a large clinical laboratory services company in a joint venture with a non-profit health system to combine outreach lab services in the state.