Photo of Cyrus Abbassi

Cyrus Abbassi focuses his practice on mergers and acquisitions, divestitures, joint ventures, financings and other corporate transactions with an emphasis on health care, animal health and other regulated industry transactions.

He regularly represents private equity funds, portfolio companies, independent sponsors, physician practices, veterinary platforms, health systems, managed care organizations, management services organizations, telemedicine platforms and digital health companies in connection with a wide range of transactional and regulatory matters.

Cyrus has considerable experience advising clients with respect to ophthalmology, gastroenterology, dermatology, urology, dentistry, behavioral health, psychedelics, radiology, womens’ health, fertility, pharmaceuticals, physical therapy, occupational health, value-based primary care, multi-specialty care, ambulatory surgery centers, diagnostic imaging centers and other health care specialties and facilities.

Cyrus has developed a particular expertise relating to animal health and veterinary practice management. Notably, in August 2021, his client Ethos Veterinary Health entered into a definitive merger agreement with National Veterinary Associates in what was one of the most significant animal health transaction agreements of the year. He has a specific understanding of the issues that are relevant to animal health, including animal health and veterinary laws, licensure matters, provider retention and protection matters, referral relationships, laboratory arrangements, pharmaceutical arrangements, and investment and recapitalization matters.

Cyrus regularly speaks on topics relating to health care and animal health across various outlets, and he is a contributor to Proskauer’s Health Care Law Brief.

In the last few years, we have seen an uptick in behavioral health groups focused on psychedelic treatments.  There are now at least five (5) psychedelic-assisted therapy platforms traded on NASDAQ with numerous others listed on the Toronto Stock Exchange and elsewhere.[1]  Ketamine treatments, in particular, have garnered considerable attention from patients, providers and investors.   Treatment models range from more traditional psychotherapy and infusion services similar to those offered by Columbia University[2] to telemedicine-enabled psychotherapy coupled with mail-delivered tablets of ketamine under the Mindbloom model.[3]  However, despite the growth in adoption, Ketamine remains a controlled substance and ketamine behavioral health remains an industry with material regulatory risks.

We have set forth certain key considerations for various stakeholders involved with ketamine behavioral health.
Continue Reading Key Legal Considerations Relating to Ketamine Behavioral Health Platforms

As demand, coverage and investment are all on the rise and transactions proliferate, we explore certain attributes of the fertility services industry.

Driving Factors

In 2019, there were 58.3 births for every 1,000 women ages 15 to 44 in the U.S., down from 59.1 in 2018.[1]  This marked the fifth consecutive year in which the fertility rate declined.  Many factors may be driving down the rate, including the lingering effects of the Great Recession, delays in marriage and an emphasis on career and educational objectives prior to having children. As women wait longer to have children, there is increasing interest in assisted reproductive technology (ART), including in vitro fertilization (IVF). Other demands for fertility services are driven by LGBTQ couples as well as people who wish to better understand their genetic makeup.
Continue Reading The State of the Fertility Industry

Cardiology procedures in the ambulatory surgery center (“ASC”) setting are growing rapidly.  According to MedPAC’s March 2021 report to Congress, there were 88 single-specialty cardiology ASCs billing Medicare in 2019 (the latest year with reportable data), which is a significant uptick from just 18 such ASCs in 2017.[1]  Despite demonstrable growth, it is important to note that this growth is occurring from a smaller base relative to other single-specialty ASCs.  For example, there were more than 1,000 gastroenterology ASCs in 2019.[2]  However, while ASCs accounted for an estimated 10% of all cardiology procedures in 2018, Bain & Company expects that they will account for 30-35% of such procedures by the mid-2020s as lower costs and favorable outcomes drive change.[3]
Continue Reading Key Considerations for Cardiology Procedures in the ASC Setting

Among the numerous consequences of the Covid-19 Pandemic is a well-documented emphasis on the home.  Work at home.  Exercise at home.  See your doctor or other health provider at home.  Home-based health care beyond the traditional nursing care is yet another change wrought by the pandemic that will not likely be eliminated as we come to define the new normal.
Continue Reading A New Era for Home-Based Patient Care

The COVID-19 pandemic has had well-documented transformative effects on the delivery of health care. Investors, providers, payors and other stakeholders have often been at the forefront of the industry shifts in the trailing twelve-month period. We have set forth below three investment trends that may be particularly compelling.
Continue Reading Three Health Care Investment Trends That We Are Currently Following