Episode Overview

Podcast: Becker Private Equity & Business Podcast
Host: Scott Becker
Guest: John Saran, Partner at Holland & Knight LLP
Episode Title: Healthcare Law, Private Equity, and Service with John Saran
Date: September 17, 2025

Main Theme:
In this episode, Scott Becker interviews John Saran, a partner at Holland & Knight LLP and a Reserve Judge Advocate General in the U.S. Coast Guard. The discussion centers on Saran's dual career in healthcare law and military service, with a particular focus on private equity trends, regulatory developments in healthcare transactions, and his motivations for public service.

Key Discussion Points & Insights

1. Introduction: Background and Dual Roles

• John Saran introduces himself as a healthcare transactions lawyer and a recent Reserve Judge Advocate General in the U.S. Coast Guard. He notes the breadth of his legal practice and recent entry into military service.
  • [00:58-02:09]

Notable Quote

"I've waited my whole life for this... It was a great experience, and it shows the value that currently practicing professionals... can bring to the military even so late in their career. It's never too late."

• John Saran [02:26]

2. Military Service Motivation

• Saran shares that a lifelong interest in military service coincided with his professional growth. He discusses previous challenges joining the Navy Reserve and the eventual opportunity with the Coast Guard, where he brings his legal expertise to bear.
  • [03:27-05:00]

Notable Quote

"Wanting to bring the professional skills, the attorney way of thinking, to the Coast Guard—have them be able to benefit from over a decade of experience."

• John Saran [03:39]

3. Healthcare Law and Private Equity Trends

• Saran details his focus on healthcare transactions, with particular emphasis on the evolving regulatory landscape both federally and at the state level:
  • Federal enforcement actions (e.g., in Texas), a diminishing exclusive focus on private equity by the FTC.
  • Ongoing debate and evolution regarding noncompete agreements (recent federal walk-backs but continued scrutiny).
  • State-level efforts: New transaction reporting requirements, resurgence of corporate practice of medicine restrictions, and California’s legislative developments.
  • Legislative involvement: Saran encourages proactive industry engagement to ensure balanced regulation.
  • [05:22-09:01]

Notable Quotes

"The one thing that I've really focused a lot of my thought leadership in the last few years has been the federal and state scrutiny of healthcare transactions and more specifically the focus on private equity."

• John Saran [05:22]

"I think the most exciting part... is being at the forefront of those initiatives... It's not just bringing awareness to it but also motivating the industry to participate in discussions."

• John Saran [07:44]

Memorable Example

• California Legislation:
  • Recap of Governor Newsom’s veto of AB 3129 (which would have granted the California Attorney General consent rights over private equity transactions and codified the state's corporate practice of medicine statute) and the subsequent splitting of that effort into two new bills. Saran discusses the redundancy and potential impacts.
  • [08:00-09:01]

4. Outlook for the Year Ahead

• Saran expresses excitement about rebuilding deal flow and transaction activity in healthcare private equity, hinting at increasing momentum in the market. He references hopes to see levels of M&A activity return to their previous highs.
  • [09:24-10:13]

Notable Quote

"What I'm excited about—and I've started to see it... with sale processes starting up and getting a lot of banker calls—I'm hoping that we return to that, to that flow next year."

• John Saran [10:09]

Timestamps for Key Segments

• [00:31] – Scott Becker introduces John Saran
• [00:58 - 02:09] – John Saran shares his background in law and military service
• [02:26 - 03:27] – Saran discusses his first drill weekend and motivations for military service
• [03:39 - 05:00] – Saran’s path into healthcare law and the Judge Advocate Corps
• [05:22 - 09:01] – Detailed discussion on current legal and regulatory trends in healthcare private equity
• [09:24 - 10:13] – Saran’s outlook and strategic focus for 2026

Memorable Moments & Quotes

• "It was an incredible experience, and it shows the value that we can bring... It's never too late." [02:26]
• "I've really focused a lot of my thought leadership in the last few years... on federal and state scrutiny of healthcare transactions, more specifically the focus on private equity." [05:22]
• "Being at the forefront... you’re not left with results and then having to deal with a new law." [07:44]
• "I'm hoping that we return to that, to that flow next year." [10:09]

Tone and Style

The conversation is collegial, thoughtful, and encouraging—marking both a reunion between longtime colleagues and an insightful analysis of industry trends. Saran’s remarks are measured, forward-looking, and grounded in hands-on experience, while Becker’s admiration and curiosity set an enthusiastic, positive tone.

Summary

This episode offers a rich discussion of personal and professional development in law and service, in-depth analysis of contemporary healthcare private equity issues, and actionable insights into legislative involvement and industry trends for 2025 and beyond. Both listeners interested in career growth and those tracking healthcare business regulation will find meaningful takeaways and a spirit of service running throughout the conversation.