In the latest episode of Payers, Providers, and Patients – Oh My!, Lex Eley and Stephanie Willis talk with Joe Records and Payal Nanavati about private equity investment in the health care industry.

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Photo of Lex Eley Lex Eley

Claud v.S. “Lex” Eley is a partner in Crowell & Moring’s Corporate Group and has more than two decades of international transactional, private equity, venture capital, and general corporate experience. Lex focuses his practice on domestic and international mergers and acquisitions, joint ventures, and business transactions. A substantial part of Lex’s work involves international transactions. He has represented clients in global and regional transactions involving countries on all continents, and serves as global transactional counsel for a number of clients.

Lex began his career representing manufacturing clients, particularly in pulp, paper, forest products, and packaging, and while his practice has expanded to include many other industries, including, healthcare, cybersecurity, information technology, consumer products, mining and minerals, automotive, and energy, he continues to be very active in traditional manufacturing industries for a number of long-standing clients. Lex’s work for his clients is heavily weighted toward mergers and acquisitions, but has covered virtually all legal disciplines touching on his client’s businesses. Lex served as outside general counsel to a pan-European paper and forest products company for a number of years while he was resident in Europe.


Photo of Stephanie Willis Stephanie Willis


Stephanie Willis is a member of the firm’s Health Care Group in Crowell & Moring’s Washington, D.C. office. She counsels health care clients in matters involving regulatory issues, including fraud and abuse compliance, participation in new health care reform initiatives under the Affordable Care Act (ACA), as well as Certificate of Need (CON) and licensure matters. She has also advised clients on compliance with laws and regulations governing health IT initiatives and health care privacy and security, including the Health Insurance Portability & Accountability Act (HIPAA).

Photo of Joe Records Joe Records

Joe Records is a counsel in the firm’s Washington, D.C. office, where he practices in the Health Care Group. Joe’s practice includes counseling and representing clients on a broad array of regulatory matters, frequently dealing with federal health care programs, health reform, and state regulation of payers and providers. In particular, Joe has advanced clients’ interests by developing legislative and regulatory health care proposals at the federal and state levels and has helped clients evaluate the impact on their business of other proposals. He has also worked with clients to respond to federal audits, including under federal health care programs, and assisted in structuring transactions to comply with state and federal law.


Photo of Payal Nanavati Payal Nanavati

Payal Nanavati is an associate in the firm’s Washington, D.C. office, where she practices in the Health Care and Government Contracts groups. Payal’s government contracts practice focuses on contract claims/disputes under the Contract Disputes Act (CDA), litigation before the Armed Services Board of Contract Appeals (ASBCA), and bid protests before the Government Accountability Office (GAO). Her health care practice includes regulatory compliance governing digital health initiatives and fraud and abuse.

Admitted in New York only; practicing under the supervision of DC Bar members