ZoomRx is a strategic healthcare consulting firm that provides services to its clients at the intersection of data management, healthcare and technology.
In 2023, when ZoomRx found itself in a position to make a strategic acquisition of assets from a company in a related industry, its CFO Gary Strickland began to explore options for M&A counsel. “Fortunately, our AmLaw 100 attorney was honest, acknowledging that his total fees would be far too high for a modest-sized deal,” explained Gary. Given the long-standing relationship with OGC, Gary reached out and was introduced to OGC Partner Bruce Friedman, an M&A lawyer with decades of experience.
Bruce has an immense number of deals under his belt, including M&A, private offerings and financings on behalf of companies of all stages of growth, as well as extensive large firm experience. By working with Bruce, ZoomRx was able to obtain the sophistication and skill generally offered by an AmLaw 100 firm, with the added benefit of working exclusively with a senior lawyer – as opposed to the typical cadre of associates relied upon by large firms.
And, perhaps equally importantly, OGC charged materially less for the same type of service. “Most Big Law firms would have charged around 3% of deal value for a deal of this size, and we did the work for under 1%,” noted Bruce. As the deal's quarterback, Gary could not have been more pleased.
“OGC's value extends far beyond solid technical skills and effective pricing,” notes Bruce. “We are a partner-only firm and bring significant in-house and law firm experience to the table.” As just one example, when Bruce joined the ZoomRx acquisition team, one of his first tasks was to assist Gary in analyzing the basic structure of the deal and making a few material adjustments to an existing Letter of Intent. Bruce took a strategic approach in working with opposing counsel, explaining why these adjustments were necessary and accepting opposing counsel's positions where doing so did not materially impact ZoomRx – an approach Gary appreciated. “Any law firm could have pushed hard on opposing counsel,” said Gary, “but Bruce recognized the need to preserve a relationship with opposing counsel and their client in furtherance of our plans to establish a post-closing business operation with them.”
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