Your prescribed dose of health law news
In our previous article, we described the due diligence process, including what a buyer would look for in your practice. Once due diligence is under way, the next step is the purchase agreement, which is usually prepared by the buyer’s attorney.
A purchase agreement is the main document for the transaction and describes its…
Three Connecticut dental practices, together with their owners, have agreed with the U.S. Attorney’s Office for the District of Connecticut to pay $1.7 million to settle allegations that the practices violated federal and Connecticut False Claims Acts and the federal Anti-Kickback Statute. This and other recent settlements seem to be suggesting that a crackdown on…
West Coast Dental Administrative Services LLC, which operates more than 40 dental and specialist locations in Southern California, and its affiliates have paid $6.3 million to resolve alleged violations of the False Claims Act (FCA). The alleged violations were in connection with loans received by the affiliated offices pursuant to the Paycheck Protection Program (PPP).…
The prohibition on fee splitting by professionals is alive and well in New York. The sale of a dental practice from one dentist to another was found to violate the state’s prohibition against fee splitting because the purchase price was to be paid, in part, based on a percentage of the future revenue of the practice. …
Rivkin Radler’s Dental Practice Counseling Group will be exhibiting and presenting at the Greater Long Island Dental Meeting from April 2-3 at the Melville Hilton. “Practice Transitions for the Practicing Dentist” will be presented by Ben Malerba, Doug Menikheim, Joel Greenberg, Eric Ploumis, and Sean Simensky on Tuesday, April 2 from 6:00 PM to 8:00…
In our previous article, we detailed the role and importance of the letter of intent (LOI) in establishing a framework for selling a dental practice. Now we will discuss the next step in the transaction – performing due diligence.
Due diligence is the process through which each party evaluates the other party(ies) to determine…
In our last installment, we discussed some of the initial steps involved in the process of selling a dental practice, including preparing your practice for sale and finding a potential suitor. Specifically, we described ways in which sellers can find potential buyers and work with advisors and brokers to evaluate the best fit. In…
In our last installment, we discussed that the dental services industry has undergone large-scale consolidation in recent years, primarily driven by Dental Services Organizations (DSOs) and private investors. We described what a DSO is and why it is a prevalent vehicle through which private investors are seeking to consolidate the dental services industry. We…
A recent data breach involving the computer systems of Great Expressions Dental Centers (GEDC) compromised the records of more than 500 Michigan patients. GEDC operates almost 350 dental practices in 10 states, including New York, New Jersey and Connecticut, making it one of the largest dental services organizations (DSOs) in the country.
GEDC’s website explains:…
As a dental professional, you are likely aware of the surge of consolidation that has been affecting the industry for the last several years, which has mostly been driven by Dental Services Organizations (DSOs). This consolidation has not only created significant financial opportunities for investors, but it has also created additional financial and exit opportunities…
