David’s practice covers both the regulatory and transactional issues that come to bear in healthcare services transactions, joint ventures and other strategic collaborations. He looks beyond the traditional deal lawyer scope to prioritize the future health of the organization post-closing, incorporating considerations like physician alignment, compliance and reimbursement at the outset of negotiations. David has counseled a wide range of healthcare service providers, including Northwell Health, Crouse Hospital, Maimonides Medical Center, U.S. Renal Care and large academic medical centers, to achieve their growth and expansion goals.

He advises PE firms such as The Riverside Company, Quad-C Management, Beecken Petty O’Keefe & Company, Iron Path Capital and Deerfield Management in multi-faceted transactions. David is highly sought-after for his counsel on operational and management issues in the context of healthcare’s complex regulatory frameworks, whether it be in the course of business or in connection with affiliations, mergers and acquisitions, fraud and abuse, compliance programs, reimbursement matters or corporate practice of medicine issues.

Prior to practicing law, David was a surgeon specializing in foot and ankle reconstruction with a subspecialty in osteomyelitis of the lower extremity. He completed his residency at St. Joseph’s Hospital in Philadelphia and an AO Fellowship (for reconstructive surgery and surgical intervention for infections) in Ravensburg, Germany.

David frequently speaks on healthcare private equity matters alongside investment bankers and c-suite leaders, helping to bridge the gap between the financial and legal aspects of sophisticated healthcare transactions.

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• Represented Quad-C Management, Inc., a leading middle-market private equity firm, in its investment in U.S. Endodontics Partners, LLC, the first and one of the largest endodontics-focused specialty service organizations
• Represented Deerfield Management Company in the sale of its portfolio company, Coeur Value, Inc. (doing business as Novocardia) and its subsidiaries. Novocardia specializes in providing administrative and management services to physician practices focusing on cardiology. The deal closed on April 4, 2023
• Represented Deerfield Management, a New York-based investment firm, in the closing of up to $20 million in a Series A financing of DFC-01, Inc., a development subsidiary spin-out of Deerfield Catalyst, LLC, a medtech incubator
• Represented Iron Path Capital in its platform acquisition of Austin Pain Acquisition, LLC and its subsidiary 9600 Feet Holdings, LLC, an organization providing management and other support services to Capitol Pain Institute, a provider of physician services in spine care, orthopedic care and pain management, and operator of ambulatory surgery centers and other surgical facilities
• Represented Iron Path Capital in the structuring, negotiation and documentation of a $65 million senior secured credit facility consisting of a $14.5 million term loan, a $5 million revolving credit facility and a $55.5 million delayed draw term loan facility with Twin Brook Capital Partners, LLC, as agent for the lenders, joint lead arranger and bookrunner, and Principal Global Investors, LLC, as joint lead arranger and joint bookrunner. The proceeds of the term loan were used to finance the acquisitions, to refinance prior debt, for future growth and acquisitions and for general corporate purposes
• Represented Iron Path Capital in its investment in Versant Diagnostics, a physician services company focused on anatomic pathology. McDermott also represented Iron Path Capital and its platform company, VPD Management, Inc. (and several of its subsidiaries) (VPD), in the negotiation and documentation of a USD30 million senior secured credit facility led Principal Global Investors, LLC, which also served as administrative agent, consisting of a $7 million term loan facility, a $20 million delayed draw term loan facility and a $3 million revolving credit facility. VPD provides pathology services to hospitals in Illinois
• Represented Beecken Petty O’Keefe & Company, LLC and its portfolio company, ClareMedica Health Partners, LLC, a leading provider of value-based primary care, in connection with Revelstoke Capital Partner’s investment in ClareMedica. BPOC and the management team will retain equity ownership in the business. This partnership will accelerate ClareMedica’s growth and aid the company in expanding its BetterCare℠ model into new markets
• Represented Beecken Petty O’Keefe & Company, LLC in its USD90 million acquisition of Southeast Primary Care Partners, LLC, an administrative services organization affiliated with North Atlanta Primary Care, P.C. (NAPC). NAPC is leading primary care services provider with twelve practice locations in and around Atlanta, GA.
• Represented Beecken Petty O’Keefe & Company, LLC in its acquisition of Praxis Packaging Solutions (Praxis). Praxis provides contract packaging services to medical device, pharmaceutical, food, and other consumer product companies
• Represented Beecken Petty O’Keefe & Company, LLC in its acquisition of Chase Medical Research, LLC
• Represented Maimonides Medical Center (Maimonides), a 711-bed academic medical center in Brooklyn, NY, in negotiating and executing an affiliation with New York Community Hospital (NYCH), a 134-bed acute care hospital also located in Brooklyn, NY. Pursuant to the affiliation, Maimonides became the sole member and co-operator of NYCH. McDermott previously represented Maimonides in its clinical services agreement with NYCH. This is a significant transaction as these are two of the largest hospitals in the New York metro area, serving a large and diverse patient population. Together, they will be able to expand their high quality care throughout Brooklyn
• Represented The Riverside Company in its acquisition of Wondr Health, a digital behavioral change company focused on weight management and preventing chronic disease within the employer-sponsored space
• Represented The Riverside Company, a private equity firm, as healthcare regulatory counsel for their transactions strategy. During this engagement, represented the client in numerous transactions, including its acquisition of eMindful, a leading provider of evidence-based, mindfulness programs for everyday life and chronic conditions. This investment is an add-on to Riverside’s Wondr Health, a digital behavioral change company focused on weight management and preventing chronic disease within the employer-sponsored space

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