McDermott Advises Renowned Nonprofit Health Systems on Innovative Joint Venture

LOS ANGELES, July 15, 2019 /PRNewswire/ -- McDermott Will & Emery (McDermott), the nation's leading healthcare law firm, has an established track record of supporting healthcare systems seeking innovative partnerships to advance care in a rapidly changing market.

McDermott recently advised two renowned nonprofit health systems, Providence St. Joseph Health and Cedars-Sinai Health System, in the creation of a joint venture for the ownership and operation of Providence Tarzana Medical Center, a 249-bed acute care hospital located in Tarzana, California.

As part of the transaction, which took effect on May 15, 2019, the hospital will operate under the new name "Providence Cedars-Sinai Tarzana Medical Center." The hospital is in the midst of an extensive renovation and expansion, scheduled for completion in 2022, transforming into a destination medical center in Los Angeles and Ventura counties. The redevelopment includes a new patient care tower with private rooms, an expanded emergency department, new diagnostic and treatment services, and enhanced outpatient and ambulatory services, all designed to meet the community's growing health market needs. The joint venture will also explore new opportunities for building specialized care programs that provide greater access to high-quality care for patients in the community.

"Innovative partnerships like that of Providence Cedars-Sinai Tarzana Medical Center require future-focused thinking and a willingness to embrace new models," said McDermott Will & Emery partner Jim Owens. "We were honored to support these progressive organizations in their never-ending pursuit of higher-quality care."

The McDermott team was led by Jim Owens, Michael Peregrine and Tomer Konowiecki, with assistance from Li Wang and Erika Mayshar.

McDermott Will & Emery is the nation's leading healthcare law firm. The Health Industry Advisory group is the only health practice to receive top national rankings from U.S. News – Best Lawyers "Best Law Firms," Chambers USA, The Legal 500 US, and Law360. The practice was also recognized by Chambers as "Health Team of the Year" in 2010, 2013, 2017 and 2019. McDermott has held the top spot in PitchBook's League Tables as the most active firm for healthcare private equity since 2017.

ABOUT MCDERMOTT

McDermott Will & Emery partners with leaders around the world to fuel missions, knock down barriers and shape markets. With over 20 locations on three continents, our team works seamlessly across practices, industries and geographies to deliver highly effective—and often unexpected—solutions that propel success. More than 1,100 lawyers strong, we bring our personal passion and legal prowess to bear in every matter for our clients and the people they serve.

SOURCE McDermott Will & Emery

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