LOS ANGELES - (September 14, 2018) - Seyfarth Shaw LLP advised Intermountain Healthcare in the establishment of Civica Rx, a new not-for-profit generic drug company that will help patients by addressing shortages and high prices of lifesaving medications.
Intermountain Healthcare will serve as an initial governing member of Civica Rx that will also include six other major health systems representing about 500 U.S. hospitals. In addition, three prominent foundations, along with these health systems, will each provide leadership on the Civica Rx Board of Directors and will provide much of the initial capitalization for the company. The company is organized as a Delaware nonstock, not-for-profit corporation, and is headquartered in Utah.
A seminal deal for the health care industry, more than 120 health organizations representing about a third of the nation’s hospitals have expressed a commitment or interest in participating with Civica Rx.
Intermountain Healthcare is a Utah-based not-for-profit system of 23 hospitals, 170 clinics, a Medical Group with about 2,300 employed physicians and advanced practice clinicians, a health plans group called SelectHealth, and other medical services. Intermountain is widely recognized as a leader in transforming healthcare through high quality and sustainable costs.
The Seyfarth team was led by Corporate partner Douglas Mancino and included partners Morgan Jones, Dean Fanelli, and William Eck.