FHLF Attorney Jeff Cohen was interviewed for a recent article by Brigitte Graf of the Ambulatory M&A Advisor
Non-disclosure agreements (NDAs) have become universally commonplace when dealing in transactions among Ambulatory Centers. These agreements, while designed to provide protection for all parties involved, can cover a wide range of sensitive topics, timetables and other areas of concern for potential buyers and sellers. With the expensive nature of the enforcement of NDAs, a seller could be left wondering where to even begin with an NDA. Thankfully, the experts have shared advice and tips on how to best go about crafting and enforcing your NDA.
Recent Trends and Key Provisions
Health Care Attorney at Michelman & Robinson, LLP, Damaris Medina, says that NDAs have become more widely used and are now universally applicable to transactional negotiations.
“Sellers want to make sure buyers are not transmitting confidential information to competitors,” Medina said. “If the buyer is a competitor, the seller wants to have some confidence the competitor will not be using that information to put the seller at a disadvantage should the sale not go through.”
Jeffrey Cohen, founder of the Florida Healthcare Law Firm and Florida Board Certified Healthcare Attorney, says that recent trends in NDAs would imply very few changes to how they are used and implemented compared to the past. Rather, the few changes noticeable are in the confidentiality provisions. These are submitted commonly in the form of Letters of Intent (LOIs).