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How did an interest in healthcare policy lead Robert Platt to a career in the law? Find out more>

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Envision to Sell to KKR for $9.9 Billion

We represented Envision Healthcare Corporation (NYSE: EVHC) in its definitive agreement to sell to KKR in an all-cash transaction for $9.9 billion, including debt. KKR will pay $46 per Envision share in cash to buy the company, marking a 32 percent premium to the company's volume-weighted average share price from November 1, when Envision announced it was considering its options. The transaction is expected to close the fourth quarter of 2018. Read more


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Six Things to Know Before Buying a Physician Practice spotlight

Dermatology, ophthalmology, radiology, urology…the list goes on. Yet, in any physician practice management transaction, there are six key considerations that apply and, if not carefully managed, can derail a transaction. Download the 6 Things to Know Before Buying a Physician Practice to keep your physician practice management transactions on track.

Click here to download the guide.

DOL Suspends March 23, 2012 Due Date for Distribution of Summary of Benefits and Coverage

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November 18, 2011

On November 17, the Department of Labor ("DOL"), with the assistance of the Departments of Treasury and Health and Human Services, provided welcomed (albeit ambiguous) relief regarding the new Summary of Benefits and Coverage ("SBC") required to be distributed by group health plans and health insurance issuers ("insurers") subject to the requirements of the Affordable Care Act. (We described the availability of the proposed SBC template on page two of our Health Reform Impact alert issued on October 5, available here.)

Until this DOL announcement, the deadline for initially distributing the SBC was to be March 23, 2012. However, the DOL's newest set (Part VII) of Frequently Asked Questions About Affordable Care Act Implementation (available here), describes that compliance with the SBC requirements will be not be required until an applicability date to be announced in forthcoming final regulations on the subject. Although the DOL did not provide—or even hint at—a particular date, the DOL anticipates that this applicability date (i.e., including the initial SBC distribution deadline) will give plans and insurers "sufficient time to comply" with the SBC requirements.

This DOL announcement similarly suspends the requirement that group health plans and insurers provide 60 days' prior notice of any "material modifications" in the terms of the plan or coverage described in the most recently issued SBC.

We await further guidance from the DOL on the SBC applicability date, and will keep you informed of any developments.

If you have any questions about this issue of Health Reform IMPACT, please contact any of the attorneys in our Employee Benefits Practice Group.


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