Overview
International law firm McDermott Will & Emery represented Geisinger Health, a $10 billion health provider, health insurer and medical school, in its sale to Risant Health, a nonprofit organization created by Kaiser Foundation Hospitals. The transaction closed on March 31, 2024.
Geisinger Health is the first integrated delivery system to join Risant Health, an organization dedicated to improving the health of millions by increasing access to value-based care. Risant Health will create a new value-based platform that includes best practices, tools, technology and services to support leading community-based health systems.
Dr. Jaewon Ryu, who has served as Geisinger’s president and CEO since 2019, will become the first CEO of Risant Health.
The historic transaction was subject to more than 400 federal and state regulatory approvals. It involved an AI-assisted review of 30,000 contracts in three weeks’ time, the largest and fastest AI review McDermott has managed to date.
Read Geisinger’s announcement here.
The McDermott deal team was led by John Callahan, Patrick Martinez, Sumaya Noush, Michael Nowicki, Emily Palmer, Morgan Pollard and George Tzanetakos. Stephen Wu, Nicole Castle, Ty Carson and Reese Poncia worked on the antitrust aspects of the transaction. Sandra DiVarco, Li Wang and Casey Li advised on health regulatory issues. Paul Hughes, Peg Warner and Cathy Ren advised on litigation strategy and California-specific risks. David Wolff and Ben Kryder led the real estate aspects of the transaction.
Invaluable corporate and transactional support was provided by Inès Achour, Reuben Bank, Bradfield Biggers, Michael Blane, Josh Cohrs, Elizabeth Hattrup, Abigail Higgins, Casey Li, Joe Luzadder, Fadi Mohamed, Will Orner, Glen Ready, Cathy Ren and Rebecca Trickey.
The AI team was led by Niraj Patel, with support from Traci Ottenfeld, Deepak Tamasker, Christopher Knorps and David Mangoubi.
About McDermott
McDermott Will & Emery partners with leaders around the world to fuel missions, knock down barriers and shape markets. Our team works seamlessly across practices and industries to deliver highly effective solutions that propel success. More than 1,400 lawyers strong, we bring our personal passion and legal prowess to bear in every matter for our clients and the people they serve.
