VillageMD, a national provider of primary care, and its affiliates, have signed an agreement to acquire Summit Medical Group of Arizona. Nearly 50 providers, including primary care physicians, nurse practitioners, and physician assistants, will join VillageMD across six Arizona-based clinics in 2020. The clinics will be transitioned to VillageMD’s primary care Village Medical brand later this year.
Ortoli | Rosenstadt: What Exactly Is a Seller Responsible for When Selling Its Staffing Firm?
Buyers of a business generally expect sellers to be responsible for certain liabilities relating to when the seller owned its business—a concept mergers and acquisitions professionals refer to as indemnification. Indemnification is one of the most heavily negotiated, and potentially most significant, provisions of a purchase agreement, and understanding the terminology common to such agreements is essential when negotiating a deal. Attorney Paul Pincus of Ortoli Rosenstadt LLP explains what sellers are liable for, how a seller’s liability may be limited, and how buyers may seek to fund potential indemnity claims.
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