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Neil S. Olderman



Neil Olderman is a transactional health care lawyer who has developed significant capabilities in generating value for his health industry clients through cost savings initiatives that he manages. Specifically, Neil helps hospital and health system clients apply their industry leverage to obtain most favorable terms on group purchasing arrangements, capital equipment acquisition, and clinical and purchased services agreements. He also helps them negotiate outsourcing arrangements and enterprise-wide strategic affiliations with vendors.

Neil draws on his background as associate general counsel to one of the largest group purchasing organizations in the United States in his current role as president of Innovative Health Strategies LLC (IHS), Faegre Drinker’s procurement and outsourcing consulting firm.

Neil assists provider clients in divesting clinical service lines or joint venturing with third parties to improve performance of certain clinical services. He facilitates the competitive bid process and assists in the selection of purchasers and vendor or joint venture partners and negotiates terms and conditions of the definitive agreements.

Health Care Advisory

On a broader scale, Neil counsels and advises health care providers, medical device manufacturers, health care technology companies and service providers in the health care industry. He handles licensing, strategic affiliations, merger and acquisition transactions, channel partnerships, and outsourcing and joint venture agreements. He also counsels health system, hospital and other health care clients on health care regulatory and compliance matters under federal and state fraud and abuse laws and regulations.

Representative Experience

Hospital Affiliation Transactions

  • Acted as transaction counsel in a not-for-profit hospital conversion in western North Carolina; led a team of 85 attorneys from 21 separate specialty practices in the $1.5 billion asset sale
  • Acted as counsel to a member substitution transaction involving two large Florida-based health systems; the combined revenues of which exceed $3 billion
  • Represented a large East Coast academic medical center in a merger with three separate community hospital affiliates through separate member substitution transactions
  • Represented a community health system in the Southeast in the acquisition of a critical access hospital and related skilled nursing facility
  • Represented a tax-exempt community health system in a merger with a large physician-led health system located in central Pennsylvania
  • Represented a four-hospital health system in Massachusetts in its joint operating agreement with a for-profit health system over the operation of certain outpatient clinics and physician practices

Asset Purchase and Joint Venture Transactions

  • Represented an academic medical center in the Philadelphia/South Jersey market in a joint venture with a national dialysis company
  • Represented an academic medical center in Alabama in a series of dialysis asset sales to a national dialysis company
  • Represented an academic medical center in Pennsylvania in the repurchase of and contemporaneous sale of its dialysis assets to a national dialysis company
  • Represented an academic medical center in Florida in the sale of its dialysis operations to a large dialysis organization
  • Represented a four-hospital health system in New Jersey in the joint venture of its dialysis operations
  • Represented a community hospital in New Jersey in the joint venture of its dialysis operations
  • Represented an academic medical center in Florida in a trauma center affiliation with a for-profit hospital company
  • Represented a Mid-Atlantic community hospital system in the sale of its reference lab assets to a national lab services provider
  • Represented a Florida-based, health system-owned regional group purchasing organization in the sale of assets and purchase of equity in a national group purchasing organization in St. Louis
  • Represented a community health system in the joint venture of its inpatient psychiatric program with a national hospital management company
  • Represented an academic medical center in Illinois in the structuring and negotiating of a three-way joint venture for reference lab services with a national lab company and health system competitor

Insights & Events

Leadership & Community

Professional Associations

  • American Bar Association
  • American Health Lawyers Association
  • Illinois Association of Healthcare Attorneys


  • Best Lawyers® — Health Care Law, 2024
  • Chambers USA — Illinois, Healthcare, 2020-24
  • Chambers USA — Illinois, Healthcare, “Recognised Practitioner,” 2017
Awards Methodology
No aspect of these recognitions has been approved by the highest court of any state.
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