There are many specialties when it comes to healthcare law. Some lawyers focus on antitrust, some lawyers specialize in regulatory, and others, like Dickinson Wright Attorney James Hughes (“Jay”), focus on mergers and acquisitions in the healthcare sector.
“Because Healthcare is such a highly regulated industry, transactions are more complex and subject to complicated rules and restrictions,” says Jay. “The M&A lawyer who handles healthcare transactions must have a good working knowledge of healthcare law.”
Jay started working in the healthcare industry 25 years ago when he was introduced to a client who needed assistance with a finance transaction. He says that he happened to be in the right place at the right time. After that first transaction, his healthcare practice took off and it has been a smooth transition into the industry.
Nationally, Hughes says, we can expect to see the trend of consolidation to continue for the next five to ten years with hospital systems planning to get bigger while we see smaller hospitals start to disappear. In Michigan, there is a growing trend towards “for-profit” hospital systems which started back in 2009. The Michigan Attorney General recently reversed its position opposing “for profit” hospitals in Michigan, and slowly the number of “for profit” acquisitions have increased.
Another trend that organizations should be aware of, according to Jay, is joint ventures in service line businesses between hospitals and for profit specialty clinical providers. He says that health systems realize that specialty providers can bring capital and expertise that is not available elsewhere.
Jay Hughes is a Member in Dickinson Wright’s Ann Arbor office where he focuses on mergers & acquisitions and healthcare. He has extensive background in healthcare contract and commercial matters, including joint ventures and management arrangements. He is a member of the American Health Lawyers Association and the Health Care Financial Managers Association. He is recognized as a leader in the field by Best Lawyers in America and Michigan Super Lawyers. He received his B.S.B.A. from Central Michigan University and his J.D. from the University of Notre Dame Law School. He is also a certified public accountant.
To learn more about Jay and his practice, click here.