McDermott Targets Turkey for Health Law Expansion
Names Local Firm as Preferred Provider for Health M&A and Regulatory Push
CHICAGO AND ISTANBUL (January 3, 2012) – International law firm McDermott Will & Emery LLP announced today its decision to expand its health law brand into Turkey and the surrounding region. McDermott has one of the largest and most prestigious health law practices in the world, counseling leading organizations in every major sector of the health and life sciences industry on legal, regulatory and business transaction issues. McDermott is the only firm to receive Tier 1 rankings in Health Care from both Chambers USA and Legal 500 USA in 2011. For the second consecutive year Chambers USA ranked the Firm's Health practice as the only Tier 1 Health Practice in the United States.
Under the plan announced today, McDermott will expand that practice by beginning to offer representation to international clients desiring to engage in health sector transactions in Turkey and the surrounding region. To assist it in achieving its strategy, McDermott has created a preferred provider relationship with Fora & Sanli, an Istanbul-based commercial law firm with strong health regulatory and corporate experience.
McDermott has distinguished itself from other international law firms by the depth of its health industry experience. Each of the attorneys in the Firm’s Health Industry Advisory Group focuses his or her practice exclusively on transactional and regulatory matters for health-sector clients and investors. In addition to being the largest health-focused practice group in the world, McDermott has managed more than 400 hospital and health care transactions in the past five years alone.
“The negotiation and consummation of health sector transactions presents unique issues requiring nuanced, industry-focused knowledge to resolve,” said John Callahan, partner and Head of International Healthcare M&A for McDermott. “We are excited to bring the experience of our seasoned health transactions team to our clients who are exploring transactions in the region,” he added. “We plan to soon fill the void that currently exists in Turkey for qualified, health-focused mergers and acquisition capabilities.”
The bourgeoning health care industry in Turkey continues to attract investors who have taken an interest in leveraged buy-outs and public-private partnerships in Turkey. Both the growth of health care expenditures in Turkey and the favorable business and regulatory climate for foreign and domestic investors have added to the luster of the Turkish health sector.
“In light of the activity in the health care industry in Turkey, it is of great strategic importance for McDermott to expand the presence of our internationally-recognized Health Industry Advisory Group there,” noted Jeffrey E. Stone, co-chair of McDermott Will & Emery. “As a firm, we are committed to bringing the same sophisticated level of client service to our Turkish and other clients in the region, as we provide to our health industry clients elsewhere in the world.”
In selecting Fora & Sanli as the preferred firm with which to collaborate, McDermott co-chair Peter J. Sacripanti cited the unique focus of Fora & Sanli on Turkish health regulatory and commercial law, its knowledge of local customs and “best practices,” its relationships with key industry constituents, and the depth of its lawyers’ experience in navigating public-private partnerships.
Banu Fora, a named partner at Fora & Sanli, noted: “We are thrilled to combine the resources and depth of an internationally-recognized leader in health transactions with the local expertise and connections that Fora & Sanli currently offers to its multinational clients. We believe that the arrangement is unique in Turkey and in the region, and will enable our clients to seamlessly access a level of health regulatory, mergers and acquisition, tax and corporate finance expertise that is unparalleled.”
The collaborative efforts of the firms will commence immediately.
About McDermott Will & Emery
McDermott Will & Emery is a premier international law firm with a diversified business practice. Numbering more than 1,000 lawyers, we have offices in Boston, Brussels, Chicago, Düsseldorf, Houston, London, Los Angeles, Miami, Milan, Munich, New York, Orange County, Paris, Rome, Silicon Valley and Washington, D.C. Extending our reach to Asia, we have a strategic alliance with MWE China Law Offices in Shanghai.
