On June 4, 2012, Universal Health Services, Inc. (“UHS”) announced that it has reached a definitive agreement whereby UHS will acquire Ascend Health Corporation (“Ascend”) for $500 million in cash. Cravath represented UHS in connection with this transaction. Including the assumption of $17 million in Ascend net debt, the total transaction consideration is approximately $517 million.
The Cravath team included partner Minh Van Ngo and associate Travis J. Wofford on corporate matters; partner Michael L. Schler and associate Jonathan J. Katz on tax matters; partner Eric W. Hilfers, practice area attorney Michael Krasnovsky and associate Matthew Cantor on executive compensation and benefits matters; partner Christine A. Varney and associate Veena Viswanatha on antitrust matters; senior attorney John Gerhard on real estate matters; and partner Matthew Morreale on environmental matters. Summer associate Daniel Satin also worked on corporate matters.