Healthcare and Life Sciences

Cravath represented Artivion, Inc. in connection with $400 million of credit facilities obtained from Ares Management Credit funds. Artivion is a leader in the manufacturing, processing and distribution of medical devices and implantable human tissues used in cardiac and vascular surgical procedures for patients with aortic disease. The transaction closed on September 12, 2025.

On September 22, 2025, Premier, Inc. (“Premier”), a leading technology‑driven health care improvement company, announced that it has entered into a definitive agreement to be acquired by an affiliate of Patient Square Capital (“Patient Square”) in a transaction valued at $2.6 billion. Under the terms of the agreement, which has been unanimously approved by Premier’s Board of Directors, Premier stockholders will receive $28.25 in cash per share. Cravath is representing the Transaction Committee of Premier’s Board of Directors in connection with the transaction.

Cravath represented the sales agents in connection with the at-the-market offering of common stock totaling up to $750 million of Sabra Health Care REIT, Inc., a self-administered, self-managed REIT that owns and invests in real estate serving the health care industry. The transaction closed on August 5, 2025.

Cravath represented the initial purchasers in connection with the $1.79 billion 144A/Reg. S high‑yield senior secured notes offering of CHS/Community Health Systems, Inc. CHS/Community Health Systems, Inc., together with its parent company, Community Health Systems, Inc., is one of the nation’s largest healthcare companies. Cravath also represented the dealer manager in connection with the concurrent $1.47 billion cash tender offer. The transactions closed on August 12, 2025.

On July 21, 2025, ZimVie Inc. (“ZimVie”), a global life sciences leader in the dental implant market, announced their entry into a definitive agreement pursuant to which ZimVie will be acquired by an affiliate of ARCHIMED (“ARCHIMED”), an investment firm focused exclusively on healthcare industries. Under the terms of the merger agreement, ZimVie stockholders will receive $19.00 in cash for each share of ZimVie common stock outstanding at the closing of the transaction, corresponding to an enterprise value of approximately $730 million. Cravath is representing ZimVie in connection with the transaction.

On September 18, 2025, Cravath published the fifth edition of its Cravath Data Privacy and Security Review newsletter. The Review provides an overview of recent U.S. state and federal legislative and regulatory developments, alongside U.S. and global enforcement trends and takeaways, in data privacy and cybersecurity for the first six months of 2025. It first presents an update on emerging and existing privacy and security legislation at the federal level, including amendments to the Children’s Online Privacy Protection Rule, then highlights notable legislative developments at the state level across the country. This edition also explores the heightened focus on cybersecurity- and privacy‑related enforcement at federal agencies, including the Federal Trade Commission, Securities and Exchange Commission and Department of Justice, and provides global enforcement updates from the European Union and China.

On September 5, 2025, LMG Life Sciences honored Cravath at the publication’s 2025 Americas Awards, which recognize “top firms, attorneys and in‑house counsel for their work in the life sciences industry over the past year.” The Firm was honored with an Impact Deal of the Year award for its representation of Johnson & Johnson in its $14.6 billion acquisition of Intra Cellular Therapies, Inc.

On August 12, 2025, Cravath partner Jin‑Kyu Baek was featured in Bloomberg Law’s “They’ve Got Next: 40 Under 40” series, which recognizes young lawyers who are “raising the bar in the legal profession,” based on their work on key client matters, assumption of leadership roles, pro bono commitments and more.

On August 11, 2025, Cravath published the latest edition of its Quarterly Review, which provides insight into practical points, key takeaways and relevant developments across the M&A, activism, tax, regulatory and corporate governance landscape. This edition covers:

On May 7, 2025, Cravath partner Sharonmoyee Goswami participated in the 7th annual Life Sciences Patent Network North America–Spring Conference, which was hosted by Life Sciences Intellectual Property Review from May 6‑7 in Boston. The conference hosted law firms, in‑house patent counsel and executives from pharmaceutical and biotech companies to discuss the latest legal rulings, legislative changes and strategic approaches transforming the life sciences IP landscape. Sharon spoke on a panel entitled “Patenting Women’s Health: The Rise of Femtech,” which reviewed topics about patenting products and services designed to support women’s health, including how to overcome eligibility hurdles for biomarkers and addressing divided infringement issues for diagnostics.