J.W. Childs to Acquire Cornerstone Healthcare Group
CHICAGO (August 12, 2005) — McDermott Will & Emery represented J.W. Childs Equity Partners III, L.P. in its recent acquisition of the Cornerstone Healthcare Group. McDermott represented J.W. Childs on all aspects of this transaction from the negotiation of a definitive and purchase agreement to the closing of the transaction, including all related equity and debt financings.
A practice-integrated team of McDermott lawyers advised J.W. Childs on matters involving corporate, tax, benefits, real estate, environmental, software licensing, reimbursement and other health law due diligence. The Firm represented J.W. Childs on the establishment of a new corporate structure including obtaining all new health care and environmental licenses and permits, and the establishment of legal compliance programs. McDermott lawyers negotiated senior credit and subordinated loan facilities to finance the transaction; and established new employee benefit plans and executive compensation arrangements.
The McDermott team advising J.W. Childs was led by corporate partners Bernard Kramer and Thomas Murphy, included partners Joseph Adams, Mark Bilut, Heidi Echols, Daniel Gottlieb, Dean Kant, Paul Lawrence, Daniel Melvin, Eric Orsic, Jeffrey Wagner and Daniel Zucker; and associates Daniel Fuchs, Andrea Hamilton, Jeffrey Holdvogt, Raam Jani, Amanda Jester, Linda Lamberson, Stephanie Poulos, Elizabeth Savard, David Scriven-Young and Erin Davis Shedd.
Based in Austin, Texas, Cornerstone Healthcare Group, an operator of long-term acute care hospitals, owns and operates 22 hospitals, primarily in the southern United States. For more information visit http://www.cornerstonehealthcaregroup.com/.
