Eric A. Klein: Lawyer with Sheppard, Mullin, Richter & Hampton LLP

Eric A. Klein


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AV® Preeminent

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Experience & Credentials Ratings & Reviews

Practice Areas

  • Corporate
  • Mergers and Acquisitions
  • Healthcare
  • Technology Transactions
  • Emerging Growth/Venture Capital
  • Life Sciences and FDA
University Princeton University, A.B., magna cum laude, 1981
Law SchoolBoston University School of Law, J.D., 1985
Admitted1986, California; U.S. District Court, Northern District of California


•Director, Association for Corporate Growth Los Angeles
•Member, American Health Lawyers Association
•Member, California Society for Healthcare Attorneys


Eric Klein is Practice Group Leader of the 95 attorney national healthcare practice, and is a partner in the Century City office, of Sheppard Mullin, a full service AmLaw Global 100 law firm with offices throughout California, New York, Chicago, Washington, D.C., London, Brussels, Beijing, Seoul and Shanghai. With over thirty years of practical legal and business experience, his practice focuses on the healthcare, technology and related industries. Known in the business community for his creative solutions and deal-making ability, Eric uses deep industry knowledge, entrepreneurial solutions, sophisticated negotiation skills and effective legal process to meet the complex business and legal needs of both established and emerging companies.

Eric is one of the most active physician group and hospital M&A lawyers, having advised on more than 60% of all major managed care physician group transactions in the Western U.S. in the past 5 years. Eric represents physician groups, hospitals, health plans, ancillary service providers and private equity and strategic investors. He works with publicly traded and privately held companies across the country and advises both for-profit and non-profit clients on mergers and acquisitions, strategic alliances and joint ventures, operational and contracting matters, strategic planning, HMO licensing and compliance, regulatory matters and information technology transactions.

Eric has been nationally recognized as a leading healthcare lawyer:
•Chambers Guide: Eric Klein “is particularly strong in large transactions and has an excellent knowledge base and a huge breadth of experience. Sources say: “In addition to his wonderful grasp of the law, he understands the medical issues and the business aspects - this is a real gift.”
•Legal 500 Guide: He is “a wonderful negotiator, creative, experienced and skillful. Eric is extremely well versed in healthcare law, and an excellent strategist.”
•Law360: Healthcare Law National MVP
•Los Angeles Business Journal: Most Influential M&A Advisor
•The Healthcare team was awarded the Deal of the Year in the healthcare industry by the M&A Atlas Awards in 2013 for the DaVita acquisition of Healthcare Partners.

Selected Mergers and Acquisitions (clients listed first):
•DaVita Inc. in its $4.4 billion acquisition of HealthCare Partners, a leading national coordinated care provider organization
•Led the Southern California-based Heritage Development Organization in forming a multi-billion dollar joint venture with Trinity Health, the nation's second-largest nonprofit hospital system, to transform care delivery and change to global risk.

•Represented ProHealth Physicians, one of Connecticut's largest independent physician groups and its integrated management company, in an acquisition by Optum, a leading information and technology-enabled health services business.

•Greater Houston Anesthesiology (one of the largest anesthesia groups) in its affiliation with Welsh Carson Anderson & Stowe portfolio company U.S. Anesthesia Partners
•Facey Medical Foundation in its long-term affiliation with Providence Health & Services
•Greater Newport Physicians and Nautilus Healthcare Management Group in their affiliation with MemorialCare Medical Foundation
•Affinity Medical Group in its affiliation with Stanford's University HealthCare Alliance
•Talbert Medical Group in its merger with HealthCare Partners
•Bristol Park Medical Group in its affiliation with MemorialCare Medical Foundation
•Providence Medical Institute in its affiliation with Axminster Medical Group
•MemorialCare IPA in its affiliation with OptumHealth, an affiliate of UnitedHealth Group
•Lakeside Systems, Inc. in its acquisition by an affiliate of Regal Medical Group
•More than twenty hospital acquisition and sale projects, including the purchase of Alvarado Hospital in San Diego from Tenet Healthcare by Plymouth Health, LLC, and its subsequent sale, and the purchase of Memorial Hospital of Gardena and East Los Angeles Doctors Hospital by Avanti Hospitals LLC
•The purchase and sale of Medicare, Medicaid, dental and vision health plans
•Sales of multiple ambulatory surgery centers

Selected Operational and Contracting Projects:
•Advised on innovative long-term $60 million HCC-RAF agreement between health plan and integrated medical group
•Establishment of public/private partnership for county-wide care network that integrates for-profit IPA networks with county owned hospitals and physician clinics
•Successful application for Medicare Shared Savings Accountable Care Organization
•Preparation of national IPA provider contract template for leading national Medicare Advantage payor
•Structuring of strategic alliance between payor and integrated medical group to transition market from fee-for-service model to coordinated care model
•Structuring of large scale contractual joint venture for staff model medical group to manage MLR in multiple hospital system and utilize quality-based shared savings structure
•Negotiation of a $1 billion pharmacy benefit management agreement
•Structuring of state of the art management services agreements and physician compensation arrangements

In the hospital sector, Eric has led 48 hospital purchase/sale and joint venture projects in the last 10 years and has worked on hospital networks, conversion of non-profit hospitals into for-profit hospitals, credit facilities for hospitals, establishment and acquisition of outpatient treatment centers, outsourcing of hospital departments and hospital syndications. He also has assisted with payor contracting and disputes, governmental investigations and licensing, and hospital-physician contracts and joint ventures. He also recently assisted with several revenue cycle management projects.

In addition, he has deep experience in healthcare information systems and technology. Recent projects included multiple large-scale electronic medical records (EMR) systems contracts, including the acquisition of a $12 million electronic medical records (EMR) system by a hospital, formation of a health information exchange and acquisition and physician roll-out of large-scale medical group EMR systems. Other assignments have included: the development and national roll-out of a personal data assistant (PDA) based information system for hospital-based physicians; the creation of a company that provides real-time PDA-based ICU information; the acquisition and customization of an eligibility and credentialing system; and the implementation of an integrated financial system.

In the area of Knox-Keene HMO regulation, Eric is working on multiple Knox-Keene applications. He obtained a Knox-Keene license for a new vision services plan in nine months, one of the fastest licensure processes in the history of the Department of Managed Health Care. He has assisted Knox-Keene plans with licensure issues, compliance and corrective action plans, restructuring, acquisitions and disposition of plans, holding company structures and credit facilities.

Eric also lectures nationally on negotiation skills and has trained many business leaders, investment bankers, lawyers and entrepreneurs in basic and advanced negotiation techniques. He is a frequent lecturer and has been a featured speaker at the Blue Cross Blue Shield Association National Summit, the California Association of Physician Groups annual meeting, the Hospital Association of Southern California annual meeting, Health Care Executives, HealthLaw 2.0 and other trade associations.


•Health MVP, Law360, 2013, 2015
•Most Influential M&A Advisor, Los Angeles Business Journal, 2013
•Leading Lawyer, Chambers USA, 2012-2015
•He has received the highest quality rating of AV from the Martindale-Hubbell legal directory.
•Southern California Super Lawyer for Securities and Corporate Finance in Los Angeles Magazine and Southern California Super Lawyers Magazine, 2005, 2006, 2009, 2014, 2015
•Healthcare, Legal 500, 2011-2015

Publications & News


•Is this A Result of the Affordable Care Act? Med Monthly, May 30, 2014
•PE Investment In NY Hospitals - The Pilot And Politics, Law360, March 27, 2014
•Health MVP: Sheppard Mullin's Eric Klein, Law360, November 20, 2013
•PE's Healing Touch Faces Test in Hospital Buys, Law360, February 8, 2012
•Lions and Tigers and Bears: Next Steps in the Consolidation of the California Market, CAPG Health, Spring 2012
•Electronic Records Mandates May Clash With Privacy Laws, The National Law Journal, June 8, 2009
•Private Equity Funds Seek Health Care Acquisitions, The National Law Journal, June 23, 2008

Healthcare Law Blog Posts
• Day Two Notes - JP Morgan Healthcare Conference, San Francisco, January 13, 2016
• Day One Notes - JP Morgan Healthcare Conference, San Francisco, January 12, 2016
• Federal Spotlight Continues to Shine on Physician-Owned Distributorships, January 4, 2016
• The Next Rx: New Medicare Part D Initiative Advances Role of Medication Management in Reform, October 12, 2015
• The Supreme Court Holds That Medicaid Providers Cannot Sue To Enforce Federal Reimbursement Rate Standards, April 16, 2015
• Full Speed Ahead for Meaningful Use, March 24, 2015
• Time is Running Out to Avoid the Negative Effects of 2016 Value-Based Physician Payment Modifiers: CMS Releases Results of Medicare's Value-Based Payment Modifier for 2015 as Final PQRS Participation Deadlines for 2016 Adjustments Approach, March 11, 2015
• HHS Launches New Payment and Delivery Model to Improve Oncology Care, February 25, 2015
• New Venture Seeks to Support Independent Physicians in Texas, February 10, 2015
• Effects of the New Federal Spending Package on the Health Sector, December 30, 2014
• The National Association of Insurance Commissioners Weigh in on Issues of Network Adequacy, December 1, 2014
• CMS Grants First Waiver of Stark Law Expansion Restrictions-Are More Ahead? November 24, 2014
• Exploring the Relationship Between Price and Competition Among Physician Practices, October 29, 2014
• From Competitors to Co-Adventurers, Seven Hospital Systems Join with Anthem Blue Cross to Shake Things Up in Southern California, October 13, 2014
• $95 Billion Savings for Medicare - A New Forecast? September 9, 2014
• The True Meaning of “Save Money. Live Better” - Walmart Enters the Primary Care Market, September 8, 2014
• Pennsylvania gets a green light to pursue Medicaid expansion under an alternative model, September 5, 2014
• Shifting to Value-Based Reimbursement, September 4, 2014
• Nonprofit Hospital Revenue Growth Slows, September 3, 2014
• Another Pioneer Leaves The West, September 2, 2014
• Bundled Payments under the Affordable Care Act Continue to Gain Influence, August 8, 2014
• Highlights from the Senate Special Committee on Aging's Hearing on Medicare Observation Status, August 6, 2014
• Tying health spending to the economy: What does it mean for the future? July 28, 2014
• OIG issues Special Fraud Alert on laboratory payments to referring physicians, July 8, 2014
• CMS seeks to update payment rates and eligibility certification requirements in proposed rule for Medicare home health services, July 7, 2014
• A “virtual merger” is underway between Chicago-area Alexian Brothers Health System and Adventist Midwest Health, June 25, 2014
• The Future of DSH Payments? June 17, 2014
• Quantifying and addressing improper payments for Medicare evaluation and management services, June 2, 2014
• Proposed modifications to EHR Incentive Programs, May 27, 2014
• In Michigan, CHE Trinity Health and Ascension Health Network come together in Together Health Network, May 19, 2014
• Innovation Health: A joint venture approach to payer-provider integration in Virginia, April 28, 2014
• Has New York State Failed its Hospitals? April 25, 2014
• Oscar, a new, venture-backed health insurance company, seeks to compete against industry giants, April 23, 2014
• New Data Shows Higher Healthcare Costs in Second Half of 2013 - Is this A Result of the Affordable Care Act? April 21, 2014
• HHS releases new software for updating (but not replacing) HIPAA security risk assessment toolkits, April 14, 2014
• New Approaches - and Increasing Oversight - for Medicaid Managed Long Term Services and Support, April 3, 2014
• New York State budget negotiations contemplate private equity investment into hospitals...again, March 17, 2014
• Colorado pilots an integrated model for the Medicare and Medicaid dual-eligible population, March 11, 2014
• New Budget Deal Can Bring Extension of Medicare Sequestration Cuts, December 11, 2013
• Obama Administration Delays ACA's Employer-Coverage Mandate Until 2015, July 3, 2013
• Final Rule Implementing ACA Wellness Program Requirements Increases Financial Incentives to Participate and Allows Financial Penalties, July 3, 2013
• Thinking Ahead - Opinions About Trends and Challenges in Today's Healthcare Industry: What Next for WellPoint After the CEO Selection? February 15, 2013
• Supreme Court Upholds Individual Mandate in the Affordable Care Act, but Medicaid Expansion is in Question, June 28, 2012

Media Mentions

•Health MVP: Sheppard Mullin's Eric Klein

Law 360, November 19, 2015

Speaking Engagements

•“Market Dynamics and New Transactions, Speaker at the 10th Annual MDS Healthcare Leadership and Executive Conference, October 5, 2015
• Transactions and Market Change, Speaker at the 9th Annual MDS Healthcare Leadership and Executive Conference, September 15, 2014
•“Physician/Hospital Integration: What's Happening? What's Working? Will It Last?” Panel speaker at the ABA Healthcare Section - Washington Health Law Summit - December 9, 2013
•“Who's Next? -- Analyzing Strategic Transactions and Opportunities in Today's Market, ” National Accountable Care Organization Congress, November 5, 2013
•“Recent Trends in Physician Alignment Transactions, ” Idaho Hospital Association Annual Meeting, October 6, 2013
•“Changing Healthcare Landscape - A conversation on the changing forces in healthcare, their impact on providers, and strategic solution, ” Panel speaker at the Marsh Healthcare Summit - September 24, 2013
•“Where Healthcare Reform is Really Going: Thoughts on Strategy, M&A and Survival, ” MDS Healthcare Leadership and Executive Conference, September 23, 2013
•“Investment Opportunities in the Healthcare Reform Environment: A Case Study on Population Health Management, the Expanding Medicaid Market and Serving the Latino Healthcare Market, ” Panel speaker at the ACG-LA Business Conference Healthcare Panel, September 18, 2013
•“Patients, Payors & Piggy Banks: Healthcare M&A in a Post-Obama Carmageddon World, ” ACG LA Healthcare M&A Panel, February 20, 2013
•“Post-Election Healthcare Reform, ” Cushman Wakefield's CFO Roundtable, December 5, 2012
•“Into Which Healthcare Segment is Investment Capital Going to Flow, ” HCE Annual Meeting, December 4, 2012
•“Inside the Deals: Recent Mergers & Acquisitions in the Healthcare Industry, ” National Accountable Care Organization Congress, October 30, 2012
•“Lions & Tigers & Bears: Next Steps in the Consolidation of the California Market, ” CAPG Annual Conference, May 2012


•10th Annual MDS Healthcare Leadership and Executive Conference

October 2015
•Healthcare Mergers & Acquisitions Forum: Taking the Temperature of the Market

Presented by Sheppard Mullin and Duff & Phelps

November 19, 2014
•Transforming Healthcare: Partnerships, Innovations and Population Health

9th Annual MDS Healthcare Leadership and Executive Conference

Encore Las Vegas, September 2014

•Director, Association for Corporate Growth Los Angeles
•Member, American Health Lawyers Association
•Member, California Society for Healthcare Attorneys


Documents by this lawyer on

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Full Speed Ahead for Meaningful Use 
Vinay Bhupathy,Eric A. Klein, March 31, 2015
On Friday, March 20, 2015, the Centers for Medicare and Medicaid Services (“CMS”) issued a proposed rule which would make significant changes to the federal Medicare and Medicaid Electronic Health Records (“EHR”) Incentive Programs (collectively the “Meaningful Use...

HHS Launches New Payment and Delivery Model to Improve Oncology Care
Eric A. Klein,Rachel Landauer, March 25, 2015
Cancer care is notoriously complex, intensive and costly. With more than 1.6 million people diagnosed with cancer each year, there is a strong impetus towards reforming service delivery. Accordingly, the U.S. Department of Health and Human Services is launching a new payment and care delivery model...

Time is Running Out to Avoid the Negative Effects of 2016 Value-Based Physician Payment Modifiers: CMS Releases Results of Medicare’s Value-Based Payment Modifier for 2015 as Final PQRS Participation Deadlines for 2016 Adjustments Approach
Eric A. Klein,Rachel Landauer, March 23, 2015
CMS recently released results of Medicare’s value-based payment modifier for 2015. This is the first year in which physicians are subject to adjustments under the payment system and, in this first phase of implementation, only affects practices with 100 or more eligible professionals.

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Eric A. Klein

1901 Avenue of the Stars, Suite 1600
Los AngelesCA 90067


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