Collaboration & Experience Facilitates Transfer of Ownership
Key Facts
- Transfer of ownership of a long-term care facility comes with a variety of challenges
- This work touches our Health Law, Corporate & Securities, Tax, Employment, Labor and Benefits, Real Estate, and Environmental practice areas
- Our attorneys work together with clients to achieve a transfer of ownership
The Situation
The transfer of ownership of a long-term care facility or other regulated senior care or assisted living residence comes with a variety of challenges, some of which are typical of any transfer of ownership of a business or property and some that are unique to the industry.
The Approach
Mintz’s Health Law Practice attorneys work in coordination with our colleagues in other practice areas, such as Corporate & Securities, Tax, Employment, Labor and Benefits, Real Estate and Environmental. Our colleagues work with the Health Law Practice on a regular basis and have developed capabilities in this area. Together, we assist our clients in negotiating effective purchase and sale agreements for both stock and asset sale transactions and conduct diligence reviews. Our tax attorneys assist clients’ accountants and financial advisors to analyze options for the acquisition structure that will put clients in the best tax position in light of their overall tax and financial status. We identify and resolve employee transition issues, including those related to benefits plans and collective bargaining agreements. The physical plant is an important component of the facility; transfer of real property ownership or assignment of leases must be coordinated from both a deal and regulatory perspective. Identification of potential environmental issues (new or preexisting) and solutions to issues are a key component of the diligence and agreement process. We can also assist with third-party payer enrollment and transition issues. Our consulting affiliate ML Strategies is ready to assist with government and community relations and with the media.
The Outcome
Our team of seasoned professionals, with solid industry experience, works together to achieve a transfer of ownership that is both business-centered and in compliance with applicable regulations.
