June 3, 2013 (Chicago) – Global law firm Proskauer advised
Sherman Health Systems in its merger with Advocate Health Care, a
transaction that closed June 1, making Sherman part of the largest
hospital network in the State of Illinois. As a result of the
merger, Sherman Health has been renamed Advocate Sherman
Hospital.
"It has been our privilege to assist the great people who make
up Sherman Health in going from strength to strength. This merger
is the most recent example of already vibrant health care providers
expanding their breadth and resources to take advantage of the
Affordable Care Act, which is changing the way hospitals and other
industry players compete," said Proskauer Partner
Monte Dube, who led the transaction.
Sherman operates a 255-bed Hospital and a network of medical
facilities to serve patients throughout the Fox Valley, Illinois
region, including three immediate care centers, a skilled nursing
and rehabilitation facility; a stand alone imaging center and home
health services. The system employs more than 2,200 individuals and
has more than 600 dedicated physicians on its medical staff.
Advocate Health System is the largest health system in Illinois
with 10 acute care hospitals, the state's largest integrated
children's network, five Level I trauma centers, two Level II
trauma centers, the state's largest home health care company,
and more than 6,000 affiliated physicians.
Proskauer served as counsel to Sherman throughout the transaction,
negotiating the terms and conditions of the deal, assisting in
receipt of all regulatory approvals, and advising the Sherman Board
of Directors on the appropriate exercise of their fiduciary duties
throughout the process.
In addition to Mr. Dube, the Proskauer team included Elizabeth
Mills (Health Care), Colin Kass (Litigation) and Jon Ingrassia
(M&A).
Proskauer's Health Care Department advises investor-owned
companies, not-for-profit organizations and government agencies in
matters ranging from complex transactions, regulatory compliance,
restructurings and reimbursement, to quality-of-care litigation and
managed care disputes. It brings in-depth capabilities and a keen
understanding of the sector's dynamics, combining health law
and industry experience with an emphasis on corporate and
transactional, regulatory, bankruptcy, litigation and
investigatory, technology, labor, real estate, tax and intellectual
property representation for clients across the industry.
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