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LEGAL UPDATE
agreement in a corporation or a partnership agreement in a partnership.
Ownership arrangements may also involve a non-compete
covenant that further ties a physician-owner to your center. While
this document generally cannot prevent them from performing procedures at competing centers, it can prohibit them from having financial
interests there.
State licensure laws may also require your ASC to notify or obtain
approval from 1 or more state agencies as part of the sale transaction. If a buyer is purchasing a 5% or greater share, your ASC must
also file a CMS Form 855-B (change of information) within 30 days of
the sale's completion. Consult your legal counsel for full information
on the regulations in your state. OSM
Mr. Kaye (joshua.k aye@dlapiper.com) is a partner and co-chair of the
healthcare sector at global law firm DLA Piper's Miami office.
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O U T PAT I E N T S U R G E R Y M A G A Z I N E O N L I N E | J A N U A R Y 2013
