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Healthcare

Major players across the healthcare industry—pharmaceutical and biotechnology companies, medical device and equipment manufacturers, health insurance companies, hospitals and other providers—turn to Simpson Thacher for deep experience navigating the complexities of the industry. From structuring multibillion dollar mergers and obtaining antitrust approval to advising on disputes and investigations, our healthcare group combines industry-specific experience with unrivaled excellence in the legal disciplines that most affect healthcare companies.  
$995B+
More than $995 billion aggregate value of healthcare deals since 2011
(Refinitiv)
550+
Over 550 corporate representations in healthcare since 2011
(Refinitiv)
“Simpson Thacher couples ‘an impressive level of experience, industry knowledge and business acumen’ with a ‘deep bench.’”
--The Legal 500
Pharma and Biotech
  • PPD’s announced $17.4 billion acquisition by Thermo Fisher Scientific and its $1.863 billion IPO
  • Valeant (n/k/a Bausch Health Companies) in a high-profile securities fraud and RICO class actions; recently secured dismissals in multiple actions
  • CSL Behring in the formation of the CoVIg-19 Plasma Alliance
  • Celgene’s $74 billion merger with Bristol-Myers Squibb (representing the financial advisors to Celgene)
  • 10x Genomics’ $448.5 million IPO, the largest life sciences IPO of 2019
  • Zai Lab’s $761.1 million global offering and secondary listing
  • KKR’s $1.4 billion acquisition of PharMerica; PharMerica in securities litigation related to the acquisition, which was dismissed with prejudice
  • Trademark Group and Laboratorios Stein in the $6.5 billion sale of a pharmaceutical products portfolio to Eurofarma
  • Defense of Pfizer in multiple securities litigations
  • Blackstones acquisition of Clarus, a life sciences investment firm, marking the launch of Blackstone Life Sciences
  • Bayer and Pfizer in false advertising matters
  • Daiichi Sankyo’s high-profile multidistrict “pay-for-delay” antitrust litigation related to Lipitor
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MedTech & Devices
  • Avantors $4.37 billion IPO, the largest healthcare IPO in U.S. history
  • Sotera Health’s $1.2 billion IPO
  • KKR Biomet in dismissal of all claims in putative securities class action
  • Multiple acquisitions and debt offerings for Teleflex
  • Debt offerings for Boston Scientific and Agilent Technologies
  • K2M Group Holdings, Inc.’s acquisition by Stryker Corporation for approximately $1.4 billion
  • A medical device company in connection with allegations raised relating to FDA and FCPA compliance issues
  • PHC Holdings’ $1.14 billion acquisition of the Anatomical Pathology business of Thermo Fisher
  • Financing for Thermo Fischer’s $11.5 billion acquisition of Qiagen
  • Apax Partners’ $6.725 billion sale with CPPIB and PSP Investments of Acelity
  • Apax Partners’ joint venture with Becton Dickinson for Respiratory Solutions Business
  • Warburg Pincus in a $76.5 million series C equity funding for Outset Medical
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Payors and Providers
  • CVS Health’s $40 billion debt offering, the third-largest corporate bond sale on record, to finance its acquisition of Aetna, and multiple other debt offerings
  • Cigna’s $1.6 billion debt offering and related tender offers
  • 21st Century Oncology in a civil suit alleging monopolization and attempted monopolization in violation of Sherman Act Section 2
  • New Frontier’s $1.3 billion acquisition of United Family Healthcare
  • Debt offerings for Community Health Systems, Humana, UnitedHealth Group and Universal Health Services
  • HCA’s IPO (the largest U.S. IPO of 2011) and multiple debt and equity offerings
  • KKR’s $9.9 billion acquisition of Envision Healthcare
  • HCA in resolution of a class-action lawsuit alleging that three defendant hospital networks conspired to depress nurse wages 
  • National healthcare provider in a criminal antitrust “no-poach” investigation
  • Hapvida’s $872.1 million IPO
  • An insurance carrier concerning a computer data access incident that resulted in investigations by various state and federal government and regulatory entities, including the Department of Health and Human Services and the DOJ
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Healthcare IT & Services
  • Microsoft's announced $19.7 billion acquisition of Nuance Communications, Inc.
  • McKesson in dismissal of antitrust class action concerning alleged price-fixing conspiracy among manufacturers of generic pharmaceuticals
  • Change Healthcare’s $13.8 billion proposed acquisition by UnitedHealth and its $928 million IPO and concurrent equity offering
  • MultiPlan’s $11 billion merger with Churchill Capital Corp III
  • Certara’s $768.5 million IPO
  • Waystar’s $1.35 billion acquisition of eSolutions
  • Weight Watchers in securing a dismissal for a securities class action alleging false and misleading statements regarding its financial performance 
  • Centerbridge Partners’ financing for its acquisition of Civitas Solutions
  • Financing for Covetrus
  • EQT Partners’ $2.7 billion acquisition with CPPIB of a majority stake in Waystar
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Healthcare M&A Infographic
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      Spotlight on
      Sara Razi Co-Authors CPI Article on FTC’s Approach Surrounding Physician Group Mergers
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      Simpson Thacher Hosts 2021 Healthcare Perspectives Event
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      Coronavirus (COVID-19) Resource Center
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      Vanessa Burrows, Bill Brentani and Atif Azher Author Law360 Article on Government Interest on PE Investments in Healthcare