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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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Courtney Grande Outlines DOJ $23 Million Settlement Related to Cardiac Devices

ABA Health Law Section

Publications

August 3, 2016

Bass, Berry & Sims attorney Courtney Grande authored an article for the American Bar Association's (ABA) Health Law Section outlining the February 2016 settlement between the U.S. government and 51 hospitals related to the improper implantation of cardiac devices. Under the terms of the settlement, hospitals must pay $23 million to settle the allegations they inappropriately billed Medicare for improperly implanting cardiac devices from 2002-2010. As Courtney states in the article, the "case is especially notable because it shows the dilemma faced by healthcare companies who misinterpret Centers for Medicare & Medicaid Services' (CMS) regulations and fail to recognize when CMS's assessment of appropriate care differs from the medical community's definition." This case serves to remind healthcare providers "to assess whether their practices comply with federal regulations, particularly as medical treatments continue to advance at a faster pace than CMS regulations."

The full article, "The New Cardiac Device Settlements: Why is it not Just the Number of Defendants that Makes this Case Notable," was published by the ABA's Health Law Section and is available online.


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