Avadim Health, Inc. v. Daybreak Cap. Partners, LLC

2021 NCBC 73
North Carolina Business Court·Decided November 30, 2021·No. 20-CVS-3334·Published

Opinion

Avadim Health, Inc. v. Daybreak Cap. Partners, LLC, 2021 NCBC 73.

STATE OF NORTH CAROLINA IN THE GENERAL COURT OF JUSTICE SUPERIOR COURT DIVISION

BUNCOMBE COUNTY 20 CVS 3334

AVADIM HEALTH, INC.,

Plaintiff/

Counterclaim

Defendant,

v.

CRAIG HARKEY d/b/a HARK HEALTH SERVICES,

Defendant, ORDER AND OPINION ON PLAINTIFF AVADIM HEALTH, INC., v. AND COUNTERCLAIM DEFENDANT DAYBREAK CAPITAL PARTNERS, STEPHEN WOODY’S JOINT MOTION LLC, and COMMUNITY HEALTH TO DISMISS GROUP, INC.,

Defendants/

Counterclaim

Plaintiffs,

STEPHEN WOODY,

Counterclaim

Defendant.

1. THIS MATTER is before the Court on the 1 February 2021 filing of Plaintiff Avadim Health, Inc., and Counterclaim Defendant Stephen Woody’s Joint Motion to Dismiss (the “Motion”) brought pursuant to Rule 12(b)(6) of the North Carolina Rules of Civil Procedure (the “Rule(s)”). (ECF No. 31 [“Mot.”].)

2. For the reasons set forth herein, the Court hereby GRANTS IN PART AND DENIES IN PART the Motion.

Allen Stahl + Kilbourne, PLLC, by Robert C. Carpenter, Robert E.

Dungan, and Jesse M. Swords, for Plaintiff and Counterclaim Defendant Avadim Health, Inc.

Buchanan Ingersoll & Rooney PC, by Terry M. Brown, Jr., and Stanley Yorsz, for Plaintiff and Counterclaim Defendant Avadim Health, Inc.

and Counterclaim Defendant Stephen Woody.

Robinson, Bradshaw & Hinson, P.A., by Benjamin DeCelle, and Pearlynn Houck, and Faegre Drinker Biddle & Reath LLP, by Matthew B. Kilby, James L. Volling, and Bryan K. Washburn, for Defendant Craig Harkey d/b/a Hark Health Services, and Defendants and Counterclaim Plaintiffs Community Health Group, Inc., and Daybreak Capital Partners, LLC.

Robinson, Judge.

I. INTRODUCTION

1. Defendants and Counterclaim Plaintiffs Daybreak Capital Partners, LLC (“Daybreak”) and Community Health Group, Inc. (“CHG”) (collectively the “Counterclaim Plaintiffs”), have asserted counterclaims against Plaintiff and Counterclaim Defendant Avadim Health, Inc., (“Avadim”) for breach of contract, tortious interference with contract, tortious interference with prospective economic advantage, fraud, unjust enrichment, 1 violation of the North Carolina Unfair and Deceptive Trade Practices Act (the “UDTP Act”), and violation of the North Carolina Racketeer Influenced and Corrupt Organizations Act (the “N.C. RICO Act”), and have asserted counterclaims against Counterclaim Defendant Stephen Woody (“Woody”) for tortious interference with contract, tortious interference with prospective economic advantage, fraud, violation of the UDTP Act, and violation of the N.C. RICO Act (the “Counterclaims”). (Defs.’ Answer and Countercls., ECF No. 22 [“Countercls.”].)

1 Avadim did not move to dismiss the unjust enrichment counterclaim. (See Mot.) Therefore, the Court does not address that claim in this Opinion.

2. In short, these claims arise from Counterclaim Plaintiffs’ assertions that Avadim has breached the Letter of Intent (the “LOI”) agreed to by the parties, and that Avadim and Woody have interfered in Counterclaim Plaintiffs’ business in the “business-to-business” market (the “B2B market”).

II. FACTUAL BACKGROUND

3. Avadim is a healthcare company in the business of selling topical products designed to improve health. (Countercls. ¶ 1.) At all relevant times Woody was Avadim’s Chief Executive Officer and served on Avadim’s Board of Directors. (Countercls. ¶ 2.)

4. Counterclaim Plaintiffs allege that Avadim has not traditionally considered the B2B market to be one of its target markets. (Countercls. ¶ 6.) Avadim’s only effort to develop a B2B market for its products—the Community Health Business unit (the “CHB Unit”)—was unsuccessful, and, in 2020, Avadim decided to cease pursuing the B2B market strategy and terminate the employees working in the CHB Unit, except for one, Stan Payne (“Payne”). (Countercls. ¶¶ 7, 8.)

5. Upon notice that the CHB Unit would be shut down, Payne and coworker Craig Harkey (“Harkey”) attempted to persuade Avadim to keep the CHB Unit. (Countercls. ¶ 9.) When Avadim insisted on closing the unit, Woody and David Fann (“Fann”), then-president of Avadim, suggested that Payne and Harkey should “raise money and buy the exclusive right to distribute and market products in that market from Avadim[,]” if Payne and Harkey believed it to be a lucrative venture. (Countercls. ¶ 9.)

6. Payne and Harkey thereafter engaged Daybreak and established a team of individuals to help with the transition and to acquire the CHB Unit’s business from Avadim. (Countercls. ¶ 10.)

7. Avadim and Daybreak then signed the LOI, which became effective on 20 March 2020, setting out the terms governing the sale of Avadim’s CHB Unit to Daybreak. (Countercls. ¶¶ 11–12.) Additionally, Counterclaim Plaintiffs allege that Hark Health Services and a “to be formed acquisition entity,” which later came to be CHG, were expressed and intended beneficiaries of the LOI. (Countercls. ¶¶ 11–12.) The LOI granted the buyers an exclusive and perpetual right to distribute and market Avadim products in the B2B market. (Countercls. ¶ 13.) Among other terms, the LOI provided: the purchase price of the CHB Unit; the markets being purchased; the Avadim products CHG would exclusively distribute and market; the product pricing; exclusivity tied to required sales thresholds; and the duration, which was to be perpetual. (Countercls. ¶ 112.)

8. On 3 April 2020, the parties signed a second amendment to the LOI in which they agreed that the LOI had become effective on 20 March 2020. (Countercls. ¶ 18.)

9. Subsequently, in June 2020, Avadim and CHG entered into an interim “Distribution Agreement,” which allowed CHG to start selling Avadim’s products and create a network of sub-distributors in the B2B market before the LOI transaction was to be closed. (Countercls. ¶¶ 26, 33.) The interim Distribution Agreement was to act as a precursor to the exclusive marketing and distribution agreement contemplated by the LOI. (Countercls. ¶ 26.)

10. Counterclaim Plaintiffs allege that “[o]nce Woody and Avadim realized that Payne, Harkey, CHG, and Daybreak were creating a business that would be capable of achieving more than $100 million in annual sales for CHG, [Woody and Avadim] secretly decided to stop negotiating in good faith to close the LOI Transaction.” (Countercls. ¶ 54.)

11. Counterclaim Plaintiffs assert that Avadim and Daybreak agreed that the LOI became effective on 20 March 2020, that the LOI has not since been terminated, and that Avadim has breached the LOI and interfered in CHG’s business in the B2B market.

12. The breach of contract counterclaim alleges that Avadim breached the “Good Faith Negotiations” term of Section 9, the “Past Practice” term of Section 10, and the “Competing Transactions” term of Section 11 of the LOI. (Countercls. ¶¶ 14, 98–123.)

13. Section 9 of the LOI required that Avadim and Daybreak “negotiate exclusively in good faith towards a successful Closing of the Transaction.” (Countercls. ¶ 110.)

14. Section 10 of the LOI provides that Avadim and the CHB Unit are required to “afford to Buyer [Daybreak] and its agents and representatives full access at reasonable times to the Company’s financial, legal, tax and other data and information to conduct its due diligence investigation of the Company and its business and affairs.” (Countercls. ¶ 100.) Section 10 further provides in the Past Practice term, that Avadim and its CHB Unit “use reasonable commercial efforts to . . . conduct its business only in the ordinary course and consistent with past practice.” (Countercls. ¶ 102.)

15. Section 11 of the LOI provides that “Avadim could not, among other things, ‘directly or indirectly . . . . solicit, initiate or encourage any discussions with . . . any person or entity with respect to the . . . Community Health business.’ ” (Countercls. ¶ 106.)

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Avadim Health, Inc. v. Daybreak Cap. Partners, LLC, 2021 NCBC 73 (N.C. Super. Ct. 2021).

2021 NCBC 73 (Avadim Health, Inc. v. Daybreak Cap. Partners, LLC) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

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