Akin Gump Acquires Specialty Law Firm; Green, Stewart, Farber & Anderson, P.C. Adds Depth to Health Industry Practice.

Business Editors/Legal Writers

WASHINGTON--(BUSINESS WIRE)--May 15, 2000

Akin, Gump, Strauss, Hauer & Feld, L.L.P. and Green, Stewart, Farber & Anderson, P.C. announced today that they will combine their practices effective July 1, 2000. Green Stewart, which numbers 17 lawyers, is a highly regarded health industry law firm representing a broad range of health care entities, including hospitals, health systems, integrated delivery systems, physician groups and managed care organizations.

The merger marks a major expansion of Akin Gump's national health industry practice, fulfilling a key objective of the firm's consolidated strategic business plan. With more than 40 full-time health industry practitioners, as well as a complement of lawyers from other practice groups, Akin Gump's health industry practice will be among the largest in the United States.

Joining Akin Gump as partners are Philip D. Green, Stephen S. Boochever, Keith R. Anderson, Allen V. Farber, Robert W. McCann, James A. Barker Jr., Paul L. Uhrig, Eileen M. Considine, John J. D'Andrea, Neil S. Olderman and Jeffrey T. Ganiban. James K. Stewart and Tecla A. Murphy join as of counsel. Joining the firm as associates are Marilyn C. Vadon, Sandra K. Mann, Kristin J. Vollmers and Ann E. Sherline.

Green, Stewart, Farber & Anderson's principal niche is corporate strategic planning, business advice, and deal structuring and negotiation on behalf of a roster of prestigious medical center and health system clients across the United States. For these clients, Green Stewart conceives, structures and implements a variety of cutting-edge strategic initiatives and deals, including outsourcing arrangements, information system agreements, outpatient cancer services agreements, equipment acquisition deals, specialty network development, managed care initiatives, joint ventures, mergers and other affiliations among players in the health industry.

David H. Eisenstat, national chair of Akin Gump's health industry practice group, remarked, "The amalgamation of our two practices represents an extraordinary opportunity for our firm, and, more importantly, for our clients. We believe that our clients and business relationships within the health industry will be well-served through the innovative products, services and skill sets of the Green Stewart team. Similarly, the Green Stewart lawyers anticipate significant benefits for their clients, who will now be able to draw upon Akin Gump's resources and depth, particularly in health regulatory matters, as well as in the areas of antitrust, tax, corporate and securities, labor and intellectual property. The merger is a perfect fit and will enhance our ability to deliver creative and bottom-line oriented solutions to clients in an industry fraught with economic and regulatory pressures. Our collective clients will benefit significantly from the combined expertise of our two firms."

Since the early 1970s, Akin Gump has provided a full range of services to clients in the health industry. The firm's lawyers have substantial experience in a variety of legal issue areas that affect the industry, including Medicare, Medicaid and other third-party reimbursement; fraud and abuse; compliance; insurance regulation and managed care; mergers, acquisitions, and general corporate and securities; taxation; antitrust and business litigation; labor and employment; employee benefits/ERISA; provider operations, including EMTALA and medical staff and risk management; intellectual property; and food and drug.

Green Stewart founding partner Philip D. Green commented, "Over the years, we have been very flattered by the number of firms who have expressed an interest in a merger with us. We ultimately chose to combine forces with Akin Gump based on our long-standing relationships with the firm's distinguished team of health industry lawyers. In addition, Akin Gump's extensive resources in a wealth of practice areas will significantly augment the many capabilities and services we can offer our clients."

R. Bruce McLean, Akin Gump's chairman, added, "For more than 25 years, a core group of dedicated Akin Gump lawyers has been devoted exclusively to serving health industry clients. Green Stewart's extensive experience in structuring deals meshes extremely well with our high-level regulatory practice. By combining our practices, we significantly expand our expertise and reputation and further extend our capacity to provide our clients with the highest level of service."

Founded in 1945, Akin, Gump, Strauss, Hauer & Feld, L.L.P., a leading international law firm, numbers 900 lawyers with offices in Austin, Brussels, Dallas, Houston, London, Los Angeles, Moscow, New York, Philadelphia, Riyadh (affiliate), San Antonio and Washington. The firm has a diversified practice and represents regional, national and international clients in a wide range of areas, including antitrust; banking and financial institutions; bankruptcy, reorganization and creditors' rights; capital markets; communications; corporate and securities; employee benefits; energy; entertainment; environmental; estate planning, wealth transfer and probate; food and drug; government contracts; health; insurance; intellectual property; international; investment management; labor and employment; litigation; mergers and acquisitions; privatization; project finance; public law and policy; real estate and finance; taxation; and technology. For additional information on our health industry practice, please visit our Web site at http://www.akingump.com/health.