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Health Law 360: New Rules Addressing Physician Payment And Outpatient Procedures On Public Display
Houston partner Susan Feigin Harris authored an article for the November 16 edition of Health Law 360 titled, "New Rules Addressing Physician Payment And Outpatient Procedures On Public Display."

The article focuses on the "final rules applicable to payment for hospital outpatient services and physician services for calendar year 2007 [which] were released and put on public display by the Centers for Medicare and Medicaid Services (CMS)."

According to Feigin Harris, "Included in the final outpatient prospective payment system rule are provisions that would link quality improvement measures to payment similar to the focus on quality standards adopted in the inpatient prospective payment regulations previously published by CMS earlier this year."

Stated Feigin Harris: "CMS estimates that hospitals will receive an average 3% increase in Medicare payments for outpatient services in 2007 due to changes in this final rule."

Feigin Harris goes on to detail additional aspects of the rules, and explain that "the final rule applicable to physician services provides for a 5% reduction in physician payments. The final rule caps payment rates for the technical component of imaging services at the amount paid in hospital outpatient departments, in accordance with the Deficit Reduction Act.

11-16-2006

Straight Talk About Financial Planning for Women
On November 1 The Women’s Networking Group of the New Jersey Corporate Counsel Association (NJCCA) got an earful of financial planning information from experts at their November 1 meeting in Morristown. Topics ranged from the legal and ethical aspects of working with a financial professional, to the nuts and bolts of investing for the future. The program was co-sponsored by NJCCA, Seiden Wayne LLC, and PNC Wealth Advisors. (Left to right in photo): Alice Turinas , Seiden Wayne; Valerie Camara, Managing Counsel, Merck & Co.; Evaleon Hill, Agreements Manager, T-Mobile USA, Inc. and Chair, NJCCA Women’s Networking Group; Kristi Vaiden, President, NJCCA; Claude Salomon , Seiden Wayne.

11-16-2006

Pryor Cashman Assists Biotechnology Investment Company in Formation and Investments
New Ventures I, LLC, a private equity fund specializing in investments in late stage biotechnology companies, was recently formed and has made approximately $40MM in investments in various companies. Pryor Cashman was counsel for the formation of the fund, and has represented the fund in the making of its investments. The Pryor Cashman team is composed of Lawrence Remmel, Craig Kinosian, Ralph Gerra, Steve Goodman and Melissa Fleming.

11-16-2006

Pryor Cashman Represents Espais Promoccions in Acquisition of 39 East 29th Street
PCSF recently represented the Spanish Real Estate development company, Espais Promoccions, in connection with the acquisition of a development site at 39 East 29th Street off Park Avenue. Espais will be constructing residential condominium building on the site. This was a complicated and multi-faceted transaction, not only because the client is in Barcelona and their representative in the US is in Miami but also because the transaction required PCSF to draw upon multiple disciplines within the firm. Numerous PCSF attorneys rose to the occasion: Todd E. Soloway led and directed the PCSF team. In the Real Estate Department, Ron Kremnitzer, Sam Bechhofer, Stephanie Paulos, Jeanne Matase and Jonathan Weinberger managed the deal including negotiating the contract of sale, handling the financing and all of the elements of the closing. In the Tax Department; Ralph Gerra and Martin Jones structured the deal; in the Corporate Department, Michael Campoli handled the organization of the corporate structure.

11-16-2006

Davis Polk Advising Delta in Connection with US Airways Unsolicited Offer
Davis Polk & Wardwell is advising Delta Air Lines, Inc. in connection with an unsolicited $8 billion offer by US Airways Group, Inc. to acquire Delta.

11-15-2006

Arris Group, Inc. Convertible Notes Offering
Davis Polk & Wardwell advised UBS Securities LLC and Deutsche Bank Securities Inc. as joint bookrunners of a $276 million SEC-registered offering by Arris Group, Inc. of its 2% convertible senior notes due 2026.

Based in Suwanee, Georgia, Arris Group, Inc. is a global communications technology company specializing in the design and engineering of broadband networks.

The Davis Polk corporate team included partner Joseph A. Hall and associates Mark M. Mendez, Benjamin M. McAdams, Jenny M. Dahlen, Kenneth J. Steinberg and Jason Rubin Sussman. Partner Po Sit and associate David Ling provided tax advice. Partner Gail A. Flesher and associate Mehrsa Baradaran provided advice on environmental matters. Elizabeth Rollings was the legal assistant for the transaction. All members of the Davis Polk team work in the New York office.

11-15-2006

Millennium Pharmaceuticals, Inc. Convertible Notes Offering
Davis Polk & Wardwell advised Morgan Stanley & Co. Incorporated and J.P. Morgan Securities Inc. as joint bookrunners on a $250 million SEC-registered offering by Millennium Pharmaceuticals, Inc. of its 2.25% convertible senior notes due 2011. The offering included $25 million over-allotment notes.

Based in Cambridge, Massachusetts, Millennium Pharmaceuticals, Inc. is a leading biopharmaceutical company focused on discovering, developing and commercializing innovative products in disease areas with unmet medical needs.

The Davis Polk corporate team included partner Alan Dean and associates Arthur Einav and Yair Geva of the New York office. Associates Mark M. Mendez and Rafal A. Nowak of the New York office provided equity derivatives advice. Partner Steven S. Weiner of the Menlo Park office and associate Lori Fields of the New York office provided advice on intellectual property matters. Counsel Loyti Cheng of the New York office provided environmental advice. Paulina Vargas of the New York office was the legal assistant on the transaction.

11-15-2006

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