January 3, 2020

Am Law 100 firm Polsinelli has received the Healthcare/Life Sciences Deal of the Year award from M&A Advisor ($50M-$100M category) for its representation of Elements Behavioral Health in its financial restructuring. The firm will be recognized at the 14th Annual Turnaround Awards gala in March 2020 in Palm Beach. Fla.

Polsinelli closed a $65 million sale on behalf of EBH TopCo LLC/Elements Behavioral Health, Inc. treatment facilities to Project Build Behavioral Health, and its primary equity owner, Blue Mountain Capital Management, in a highly complex behavioral health transaction within the context of a Chapter 11 bankruptcy earlier this year. The transaction touched every aspect of the firm’s national bankruptcy practice, as well as just about every other practice in the firm, and led to the resolution of complicated legal issues that are atypical for most Chapter 11 cases.

“We are honored to receive this recognition from M&A Advisor,” said Polsinelli Bankruptcy and Restructuring Practice Chair Chris Ward. “We recognize that deals in distressed health care can add layers of complexity that you do not see in typical distressed transactions and it is imperative to maintain a strong client relationship throughout the relationship.” 

Over the course of 15 months of negotiations, Polsinelli’s team of advisors managed the company’s corporate affairs, responsibilities as debtors in possession in Chapter 11, approval of the sale transaction and liquidating Chapter 11 plan by the Bankruptcy Court, and administrative services and employee leasing agreement to govern the company from sale approval until the regulatory approval was obtained in numerous jurisdictions across the country.

M&A Advisor’s nominations represented more than 240 companies and were judged by an independent panel of industry experts. Winners of the 14th Annual Turnaround Awards will be recognized at an awards gala and featured as part of the 2020 Distressed Investing Summit, which takes place Mar. 17-18, 2020 in Palm Beach, Fla. 

Polsinelli’s legal team on behalf of Elements Behavioral Health includes Ward, as well as Shareholders Shanti Katona, Bragg Hemme, Paul Gomez and Ryan McAteer. This recognition follows another M&A honor received earlier this year, “Cross Border Turnaround of the Year” from Global M&A Network. The firm was recognized in the Small-Mid Market category for its representation of PhaseRX, Inc. in its Chapter 11 bankruptcy and acquisition by Roivant Sciences. 

About Polsinelli

Polsinelli is an Am Law 100 firm with 900 attorneys in 21 offices nationwide. Recognized by legal research firm BTI Consulting as one of the top firms for excellent client service and client relationships, the firm’s attorneys provide value through practical legal counsel infused with business insight, and focus on health care, financial services, real estate, intellectual property, middle-market corporate, labor and employment and business litigation. Polsinelli PC, Polsinelli LLP in California.