The Corner Series

The days when healthcare investors could financially engineer their way to an outcome are gone. In today’s economy, they must focus on improving valuation and performance. In this podcast, McGuireWoods partner and host Geoff Cockrell and Mike Murphy, founder and managing partner of Sunstone Management Advisors, discuss how to succeed in this harsh reality.

At Sunstone, Mike leverages his four decades of experience in the healthcare insurance space to help small to mid-sized businesses improve their enterprise value. For Mike, it starts with uncovering the fundamentals of a client’s business: Are the messaging and targeting right? Then there’s the execution around selling into the payers, which is not for the faint of heart, Mike says. The CEO should be the thought leader, not the salesperson.

☑️ Mike Murphy | LinkedIn

☑️ Sunstone Management Advisors | LinkedIn

☑️ Geoff Cockrell | LinkedIn

☑️ McGuireWoods | LinkedIn | Facebook | Instagram | X

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This podcast was recorded and is being made available by McGuireWoods for informational purposes only. By accessing this podcast, you acknowledge that McGuireWoods makes no warranty, guarantee, or representation as to the accuracy or sufficiency of the information featured in the podcast. The views, information, or opinions expressed during this podcast series are solely those of the individuals involved and do not necessarily reflect those of McGuireWoods. This podcast should not be used as a substitute for competent legal advice from a licensed professional attorney in your state and should not be construed as an offer to make or consider any investment or course of action.

Out of the blue, D.C. healthcare regulators informed Hero Practice Services that its two dental practices needed a “certificate of need.” The lengthy, stringent process to secure one would have hamstrung the practices, which served 50% Medicaid patients. Hero’s general counsel Eleanor Kasper and her team worked with the D.C. council to update the antiquated law so dental practices would no longer be called out on certificates of need.

The story reflects the mission of Hero, a healthcare practice management company whose providers in dental, vision and orthodontics are located in many underserved communities and see 97% Medicaid recipients. In this conversation with McGuireWoods partner and host Geoff Cockrell, Eleanor discusses navigating regulatory requirements across different states, retaining providers and challenging the notion that private equity-backed healthcare is “bad.”

☑️ Eleanor Kasper | LinkedIn

☑️ Hero Practice Services | LinkedIn | Facebook

☑️ Geoff Cockrell | LinkedIn

☑️ McGuireWoods | LinkedIn | Facebook | Instagram | X

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This podcast was recorded and is being made available by McGuireWoods for informational purposes only. By accessing this podcast, you acknowledge that McGuireWoods makes no warranty, guarantee, or representation as to the accuracy or sufficiency of the information featured in the podcast. The views, information, or opinions expressed during this podcast series are solely those of the individuals involved and do not necessarily reflect those of McGuireWoods. This podcast should not be used as a substitute for competent legal advice from a licensed professional attorney in your state and should not be construed as an offer to make or consider any investment or course of action.

McGuireWoods partner and host Geoff Cockrell invites Government Investigations & White Collar Litigation partners Mindy Sauter and Mike Elliott to discuss compliance and regulatory challenges within private equity healthcare investments. As Mindy explains, private equity groups are sensitive to compliance issues because they bring in individual entities that tend to function in a siloed manner.

The ideal member of the private equity group’s board is someone with healthcare experience who will look at the appropriate type of oversight of compliance functions, says Mike. In the new administration, Mike anticipates an increased push toward investigating antitrust violations, while Mindy suggests that investigations into healthcare fraud, waste and abuse will remain consistent with the current landscape.

☑️ Mindy Sauter | LinkedIn

☑️ Mike Elliott | LinkedIn

☑️ Geoff Cockrell | LinkedIn

☑️ McGuireWoods | LinkedIn | Facebook | Instagram | X

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This podcast was recorded and is being made available by McGuireWoods for informational purposes only. By accessing this podcast, you acknowledge that McGuireWoods makes no warranty, guarantee, or representation as to the accuracy or sufficiency of the information featured in the podcast. The views, information, or opinions expressed during this podcast series are solely those of the individuals involved and do not necessarily reflect those of McGuireWoods. This podcast should not be used as a substitute for competent legal advice from a licensed professional attorney in your state and should not be construed as an offer to make or consider any investment or course of action.

McGuireWoods partner Kevin Madagan offers private equity investors a window into the future of the life sciences industry in this wide-ranging conversation with partner and host Geoff Cockrell.

From the FDA’s new Advisory Committee for Digital Health to the controversial Biosecure Act, which could open avenues for investors in the life sciences sector, Kevin suggests news for investors to monitor. He highlights the growth of radiopharmaceuticals, driven by increased partnerships between contract development and manufacturing organizations and Big Pharma.

☑️ Kevin Madagan | LinkedIn

☑️ Geoff Cockrell | LinkedIn

☑️ McGuireWoods | LinkedIn | Facebook | Instagram | X

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This podcast was recorded and is being made available by McGuireWoods for informational purposes only. By accessing this podcast, you acknowledge that McGuireWoods makes no warranty, guarantee, or representation as to the accuracy or sufficiency of the information featured in the podcast. The views, information, or opinions expressed during this podcast series are solely those of the individuals involved and do not necessarily reflect those of McGuireWoods. This podcast should not be used as a substitute for competent legal advice from a licensed professional attorney in your state and should not be construed as an offer to make or consider any investment or course of action.

McGuireWoods partner and host Geoff Cockrell and associate Amanda Roenius welcome Jessica Nunn, CEO of Maven Financial Partners, for a discussion about the convergence of med spas and private equity.

Jessica describes key characteristics of the med spa arena, different membership models and drivers of profitability and explains why she expects the space to be more competitive in 2025.

☑️ Jessica Nunn | LinkedIn

☑️ Maven Financial Partners | LinkedIn

☑️ Amanda Roenius | LinkedIn

☑️ Geoff Cockrell | LinkedIn

☑️ McGuireWoods | LinkedIn | Facebook | Instagram | X

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This podcast was recorded and is being made available by McGuireWoods for informational purposes only. By accessing this podcast, you acknowledge that McGuireWoods makes no warranty, guarantee, or representation as to the accuracy or sufficiency of the information featured in the podcast. The views, information, or opinions expressed during this podcast series are solely those of the individuals involved and do not necessarily reflect those of McGuireWoods. This podcast should not be used as a substitute for competent legal advice from a licensed professional attorney in your state and should not be construed as an offer to make or consider any investment or course of action.

Med spas are rapidly becoming the front door to healthcare, and Empower Aesthetics has put out the welcome mat.

Partnering with financial sponsor Shore Capital, Empower’s platform of medical spas are located in Texas and Tennessee and building in the Midwest and upstate New York. With host Geoff Cockrell, Empower’s CEO Alyssa Rapp and Shore’s Logan Pitts share their insights on growing a med spa platform. She attributes Empower’s success to a relentless focus on “pure-play med spa” that offers injectables, lasers, and body contouring. “We’re sticking to our knitting and very clear on what we’re doing,” she says.

☑️ Alyssa Rapp | LinkedIn

☑️ Empower Aesthetics | LinkedIn | Instagram

☑️ Logan Pitts | LinkedIn

☑️ Shore Capital Partners | LinkedIn

☑️ Geoff Cockrell | LinkedIn

☑️ McGuireWoods | LinkedIn | Facebook | Instagram | X

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This podcast was recorded and is being made available by McGuireWoods for informational purposes only. By accessing this podcast, you acknowledge that McGuireWoods makes no warranty, guarantee, or representation as to the accuracy or sufficiency of the information featured in the podcast. The views, information, or opinions expressed during this podcast series are solely those of the individuals involved and do not necessarily reflect those of McGuireWoods. This podcast should not be used as a substitute for competent legal advice from a licensed professional attorney in your state and should not be construed as an offer to make or consider any investment or course of action.

As the pharma services sector grows, regulators at the Department of Justice and Food and Drug Administration are placing everything from clinical trials to site management under the microscope. McGuireWoods partner Clint Narver speaks from experience: He joined the firm after serving in leadership roles at both agencies.

With host Geoff Cockrell, Clint helps industry stakeholders understand regulators’ enforcement priorities. He covers the responsibilities of clinical research organizations (CROs), the impact of decentralized clinical trials on regulatory oversight, and the importance of corporate compliance in avoiding enforcement actions. To investors looking at acquiring a company, Clint notes that DOJ’s recent Mergers and Acquisitions Safe Harbor policy is designed to incentivize the disclosure of corporate crime that is uncovered through the due diligence process. 

☑️ Clint Narver I LinkedIn

☑️ Geoff Cockrell | LinkedIn

☑️ McGuireWoods | LinkedIn | Facebook | Instagram | X

☑️ Subscribe Apple Podcasts | Spotify | Amazon Music

This podcast was recorded and is being made available by McGuireWoods for informational purposes only. By accessing this podcast, you acknowledge that McGuireWoods makes no warranty, guarantee, or representation as to the accuracy or sufficiency of the information featured in the podcast. The views, information, or opinions expressed during this podcast series are solely those of the individuals involved and do not necessarily reflect those of McGuireWoods. This podcast should not be used as a substitute for competent legal advice from a licensed professional attorney in your state and should not be construed as an offer to make or consider any investment or course of action.

At fast-growing Allied Digestive Health, with 194 GI physicians, 75 nurse practitioners, and locations in New Jersey and New York, COO Sap Sinha is excited about the future.

“Private equity in general is looking at GI very specifically, and there are multiple reasons for it,” Sap says in this conversation with host Geoff Cockrell. One reason lies in the fact that colon cancer is the second-largest cancer or cause of death in the United States. Sap describes the current landscape, where Allied is investing in clinical quality and partnering with large institutions, as well as frontiers, such as genetics to detect colon cancer and helping obese patients reduce weight to manage non-alcoholic fatty and liver disease.

☑️ Sap Sinha | LinkedIn

☑️ Allied Digestive Health

☑️ Geoff Cockrell | LinkedIn

☑️ McGuireWoods | LinkedIn | Facebook | Instagram | X

☑️ Subscribe Apple Podcasts | Spotify | Amazon Music

This podcast was recorded and is being made available by McGuireWoods for informational purposes only. By accessing this podcast, you acknowledge that McGuireWoods makes no warranty, guarantee, or representation as to the accuracy or sufficiency of the information featured in the podcast. The views, information, or opinions expressed during this podcast series are solely those of the individuals involved and do not necessarily reflect those of McGuireWoods. This podcast should not be used as a substitute for competent legal advice from a licensed professional attorney in your state and should not be construed as an offer to make or consider any investment or course of action.

Host Geoff Cockrell invites Steve DeLong, founder and co-CEO of Bluetree Dental, to discuss growing a DSO in a competitive healthcare landscape. Bluetree, which has expanded to more than 40 offices across six states since its inception in 2012, represents a successful model of combining de novo growth with acquisitions. Steve emphasizes the importance of maintaining a balance between central guidance and local practice autonomy, ensuring that dental professionals retain a degree of control over their operations. Geoff and Steve also cover the strategic alignment of interests between a DSO and its dental providers, detailing Bluetree's approach to equity ownership and partnership models. Finally, Steve shares insights about Bluetree's decision to partner with Clairvest Group for a minority private equity investment, highlighting the desire for a cautious, long-term growth strategy over rapid expansion. 

☑️ Steve DeLong | LinkedIn

☑️ Bluetree Dental I LinkedIn I Instagram I Facebook

☑️ Geoff Cockrell | LinkedIn

☑️ McGuireWoods | LinkedIn | Facebook | Instagram | X

☑️ Subscribe Apple Podcasts | Spotify | Amazon Music

This podcast was recorded and is being made available by McGuireWoods for informational purposes only. By accessing this podcast, you acknowledge that McGuireWoods makes no warranty, guarantee, or representation as to the accuracy or sufficiency of the information featured in the podcast. The views, information, or opinions expressed during this podcast series are solely those of the individuals involved and do not necessarily reflect those of McGuireWoods. This podcast should not be used as a substitute for competent legal advice from a licensed professional attorney in your state and should not be construed as an offer to make or consider any investment or course of action.

Host Geoff Cockrell observes that seller anxiety about the potential for broken deals seems to be high right now. A surprising number of deals, he says, are reluctant to “go out into a wider market process.” Guest Reed Van Gorden of Deerpath Capital sees the same trend: mergers and business sales are slow. He’s waiting to see if the two additional interest rate cuts that are expected this year will set more deals in motion.

Reed finds that companies are performing well and have stabilized since the effects of the COVID pandemic. And the local businesses that Deerpath focuses on, such as medical offices, are not terribly affected by world events like supply chain problems or fluctuating oil prices.

☑️ Reed Van Gorden | LinkedIn

☑️ Deerpath Capital | LinkedIn

☑️ Geoff Cockrell | LinkedIn

☑️ McGuireWoods | LinkedIn | Facebook | Instagram | X

☑️ Subscribe Apple Podcasts | Spotify | Amazon Music

This podcast was recorded and is being made available by McGuireWoods for informational purposes only. By accessing this podcast, you acknowledge that McGuireWoods makes no warranty, guarantee, or representation as to the accuracy or sufficiency of the information featured in the podcast. The views, information, or opinions expressed during this podcast series are solely those of the individuals involved and do not necessarily reflect those of McGuireWoods. This podcast should not be used as a substitute for competent legal advice from a licensed professional attorney in your state and should not be construed as an offer to make or consider any investment or course of action.