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Paige Mills discusses how the recent U.S. Supreme Court decision in TC Heartland v. Kraft is impacting patent cases. Read more>

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On December 1, 2016, Parker Hannifin Corporation and CLARCOR Inc. announced that the companies have entered into a definitive agreement under which Parker will acquire CLARCOR for approximately $4.3 billion in cash, including the assumption of net debt. The transaction has been unanimously approved by the board of directors of each company. Upon closing of the transaction, expected to be completed by or during the first quarter of Parker’s fiscal year 2018, CLARCOR will be combined with Parker’s Filtration Group to form a leading and diverse global filtration business. Bass, Berry & Sims has served CLARCOR as primary corporate and securities counsel for 10 years and served as lead counsel on this transaction. Read more here.

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FCPA: 2016 Year in Review & 2017 Enforcement Predictions

A review of trends and developments in FCPA as well as a look ahead into what to expect for 2017. This report aims at providing corporate leaders and companies with the knowledge they need to comply with the FCPA and avoid litigation in 2017.

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Community Health Systems Announces Plan to Spinoff New Public Company

Client Type: Private Company

Bass, Berry & Sims is representing Community Health Systems, Inc. (NYSE: CYH) in its plan to spinoff 38 hospitals and Quorum Health Resources, which provides hospital management and consulting services. The new company, Quorum Health Corporation (Quorum) will be headquartered in Middle Tennessee and operate independently. The businesses that comprise Quorum generated annual net revenue of approximately $2.1 billion and adjusted EBITDA of approximately $255 million in 2014. This transaction is expected to qualify as a tax-free distribution to Community Health Systems and its stockholders. The spinoff is expected to close in the first quarter of 2016. 

Quorum includes 38 hospitals in 16 states, and is primarily located in cities or counties having populations of 50,000 or less. In 84 percent of the Quorum markets, the hospitals are the only acute care facilities.

Community Healthy Systems, Inc. will remain one of the largest publicly traded U.S. hospital companies with 160 affiliated hospitals in 22 states.

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