Healthcare attracts some of the most innovative minds in the world, but there are legal speed bumps in the adoption of digital healthcare innovation. Inconsistent regulatory regimes, varying reimbursement models, potential litigation and the ethical concerns of protecting the privacy, life and health of patients mean the healthcare industry needs to move cautiously. As a result, some basic available technologies that could make healthcare more effective and efficient are still not widely adopted.
Jeffrey J. Steinle
Assistant: Mary Esjornson, 612.492.7565
“Jeff has earned a reputation as an agile and relentless negotiator who focuses on business objectives and is able to maintain a sense of humor, focus and calm while working through challenging and evolving issues.”
Jeff is a corporate attorney who advises life science companies executing M&A, divestiture, financing, joint venture, licensing and commercial transactions. He serves as outside general counsel to life science companies and has significant experience advising digital health companies as they navigate the myriad legal issues related to the growing use of artificial intelligence, smart algorithms and “big data” in medical technology.
Before joining Fredrikson & Byron, Jeff founded and led a consulting firm that provided general counsel services and strategic advice to life science companies, including serving as the General Counsel of Vios Medical, Inc., an emerging growth healthcare information technology company with an IoT-based patient management platform delivered as a service, prior to its sale to Murata Manufacturing Company in the fall of 2017. Previously, Jeff was the Vice President of Business Law and Deputy General Counsel of SUPERVALU, INC. where he led the legal teams advising the company and developing strategies related to the company’s M&A, securities, financing and real estate activities. Jeff also developed substantial medical technology expertise during his time at Medtronic as an M&A lawyer, corporate development leader and divisional counsel and has a strong background in healthcare law. Prior to joining Medtronic, Jeff was a corporate and restructuring attorney at Skadden, Arps, Slate Meagher & Flom.
Jeff serves on the Boards of Directors and Executive Committees of Pillsbury United Communities and the Minneapolis Heart Institute Foundation and the Board of Directors of the South Dakota Biotech Association.
Jeff offers a highly unique set of experiences to his clients at Fredrikson that span the deal-making continuum from strategy creation, scouting and pipeline development through venture-capital investing, negotiation and execution to integration. Jeff also has significant experience with financing, joint ventures, licenses, divestitures, company carve-outs and transition services. He is a highly effective and efficient day-to-day manager of his clients’ legal needs, always ensuring that a company’s legal strategy supports and adds value to its growth and ROI objectives. Representative experiences and engagements include the following:
- M&A counsel in acquisition of digital behavioral monitoring company.
- Vios Medical, Inc. as general counsel and M&A counsel in its $105M sale to Murata Manufacturing Company.
- Sale of Blue Willow Systems, Inc., the developer of a cloud based senior living safety system to Philips.
- VIDA Diagnostics, Inc., which offers advanced pulmonary quantitative imaging analytics, as its outside general counsel.
- Internal counsel, corporate development lead and outside transaction counsel to Medtronic in a variety of transactions including its:
- Acquisition of Epix Therapeutics, Inc. for $316M
- Option to acquire QT Vascular’s non-drug coated PTA balloon catheter for $28M
- Joint venture with American Well in a first-of-its-kind strategic partnership to provide telehealth services to Medtronic Care Management Services’ video-enabled platforms
- Acquisition of Covidien with respect to required international regulatory filings and certain integration matters
- Divestiture of Physio-Control, an external monitoring and defibrillator division serving hospital and EMS customers
- Acquisition of Invatec, a peripheral vascular therapies company, in a $500M transaction
- Acquisition of Ardian, an early stage company with a treatment for drug-resistant hypertension, in an $800M transaction
- Acquisition of ATS Medical, a company with a portfolio of mechanical and tissue heart valves, in a $370M transaction
- Acquisition of Kyphon Inc., a minimally invasive spinal therapy company, in a $3.9B transaction
- Numerous other licensing, investment and joint venture transactions
- Outside general counsel to neurology therapy company.
- Development stage cell therapy company in the negotiation of the development and sourcing of cell lines.
- Legal and strategic advisor to pharmaceutical company restructuring its business operations and refinancing its debt.
- Outside general counsel and strategic advisor to small medical device company with commercialized hearing device.
- SUPERVALU in its $3.3B divestiture of its New Albertson’s Inc. subsidiary.
- SUPERVALU in its stock tender and investment by a consortium led by Cerberus Capital Management.
- SUPERVALU in its refinancing of its $2.5B secured lending facility and refinancing of $370M of notes through a tender offer and reissuance.
Articles & Presentations
PUBLICATIONS & PRESENTATIONS
- Co-Presenter, “Development Stage Strategic Investments with Acquisition Rights,” Twin Cities Startup Week, September 17, 2020
- Panelist, “Structured Acquisitions; Hedging Bets on Early Stage Companies,” Medtronic plc Training, October 22, 2019
- Co-Presenter, “What Buyers look for in Due Diligence when Acquiring Start-up Bio Companies,” South Dakota Biotech Summit, October 8, 2019
- Presenter, “Effective use of Lawyers by Biotech Companies,” World Bio Congress, July 10, 2019
- Presenter, “Digital Therapeutics: Emerging Legal, Regulatory, and Ethical Issues,” 2019 Health Law Institute Minnesota CLE, June 20, 2019
- Moderator, South Dakota Biotech Breakfast, Sioux Falls, SD, June 26, 2019
- Co-Presenter, “Digital Therapeutics: The Third Phase of Medicine?,” Fredrikson & Byron and TreeHouse Health Webinar, April 26, 2018
Honors & Education
- University of Minnesota Law School, J.D., 1996, magna cum laude
- Gustavus Adolphus College, B.A., 1991, magna cum laude
- Minnesota, 1996
- Order of the Coif
- Pillsbury United Communities, Board of Directors and Executive Committee, 2016-present
- Minneapolis Heart Institute Foundation, Board of Directors and Executive Committee, 2018-present
- South Dakota Biotech Association, Board Member, 2019-present
- Friends of FANA, Minnesota, Member, 2001-present
- BioBusiness Alliance of Minnesota, Board of Directors, 2013-2015
- The Catholic Charities of the Archdiocese of Chicago Adoptive Parents Guild, Board of Directors, 2002-2004
- Gustavus Adolphus Alumni Association, Class President, 2011-present, Class Agent, 1991-2000