Provident Healthcare Partners, LLC v. Samir Melki and Boston Laser Eye Institute, P.C.

CourtMassachusetts Superior Court
DecidedFebruary 5, 2025
Docket2184CV01301-BLS2
StatusPublished

This text of Provident Healthcare Partners, LLC v. Samir Melki and Boston Laser Eye Institute, P.C. (Provident Healthcare Partners, LLC v. Samir Melki and Boston Laser Eye Institute, P.C.) is published on Counsel Stack Legal Research, covering Massachusetts Superior Court primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Provident Healthcare Partners, LLC v. Samir Melki and Boston Laser Eye Institute, P.C., (Mass. Ct. App. 2025).

Opinion

SUPERIOR COURT

PROVIDENT HEALTHCARE PARTNERS, LLC vs. SAMIR MELKI and BOSTON LASER EYE INSTITUTE, P.C.

Docket: 2184CV01301-BLS2
Dates: January, 2025
Present: Debra A. Squires-Lee
County: SUFFOLK
Keywords: DECISION AND ORDER ON CROSS MOTIONS FOR SUMMARY JUDGMENT

            In 2016, Dr. Samir Melki (Melki) was considering the sale of his ophthalmology practice, Boston Laser Eye Institute, P.C. (Boston Laser) (together with Melki, Defendants). Provident Healthcare Partners, LLC (Provident) agreed to serve as Boston Laser’s financial advisor in connection with the sale of all or substantially all of Boston Laser, and the two entered a Transaction and Engagement Agreement (TEA). In 2018, Eli Global, LLC (Eli Global) and affiliates bought all of Boston Laser’s assets. Before the closing on March 29, 2018, Provident invoiced Defendants for its four percent fee under the TEA in the amount of $920,000, which was approved and paid from the cash proceeds of the acquisition.

            Eventually, disputes arose between Provident and Boston Laser regarding the appropriate amount of Provident’s fee and whether Boston Laser overpaid. Provident filed the instant action asserting four claims: one for a declaratory judgment that the fee was calculated appropriately under the TEA, and claims for violation of G. L. c. 93A, § 11, tortious interference with contractual relations, and unjust enrichment. Boston Laser asserted four counterclaims: breach of the TEA; unjust enrichment, fraud, and violation of G. L. c. 93A, § 11. All the claims and counterclaims essentially center on the amount

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of the payment due to Provident pursuant to the TEA given the acquisition terms and purchase price. Provident now moves for summary judgment on all counterclaims and Defendants seek summary judgment on Provident’s affirmative claims.

            After a careful review of the evidence and arguments, I conclude that Defendants voluntarily paid Provident $920,000 for its work in connection with the sale of Boston Laser’s assets. There was no fraud, collusion, or concealment. To the contrary, Defendants knew the basis for the calculation of Provident’s fee and paid the fee happily. Therefore, applying the voluntary payment doctrine, judgment must enter in Provident’s favor on all of Boston Laser’s counterclaims.

            As for Provident’s claims against Defendants, the declaratory judgment claim must be dismissed because resolution of the parties’ dispute regarding Provident’s right to retain the full amount of its fee under the voluntary payment doctrine renders it moot. Moreover, Defendants are entitled to summary judgment on Provident’s remaining claims for the reasons stated below.

            Accordingly, after hearing and review, Plaintiff’s Motion for Summary Judgment is ALLOWED and Defendants’ Motion for Summary Judgment is ALLOWED-in-part. Because all the issues between the parties are thereby resolved, final Judgment shall enter.

BACKGROUND

            A. Transaction Engagement Agreement

            Boston Laser and Provident entered the TEA on December 27, 2016. Provident agreed to serve as Boston Laser’s financial advisor in connection with a sale of Boston Laser. Prior to its execution, the TEA was negotiated by the parties, and reviewed and edited by counsel for Defendants. Melki, the then sole owner and President of Boston

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Laser, signed the TEA on its behalf. Although he does not recall whether he read the TEA, Melki reviewed it with Boston Laser’s then CEO.[1]

            Provident’s standard fee was a four percent contingency fee. The fee was changed during negotiation. Relevant here, section 3 details the Professional Fees due Provident and provides:

As compensation for services rendered hereunder by Provident Healthcare, [Boston Laser] agrees to pay Provident [] a fee in an amount calculated as follows: four percent (4%) of the Aggregate Transaction Value, if the Transaction Value is greater than or equal to Fifteen Million Dollars ($15,000,000), or three percent (3%) of the Aggregate Transaction Value, if the Aggregate Transaction Value is less than Fifteen Million Dollars ($15,000,000) (the Transaction Fee). . . . [T]he Transaction Fee will be paid concurrently with the completion of a closing of the Transaction.

Aggregate Transaction Value is defined in section 4 of the TEA:

For purposes of this Agreement, transaction value will be determined based on the consideration received, or to be received, by [Boston Laser], the principal shareholders and its holders of equity-linked securities, including without limitation, cash, notes and loans, securities, real and personal property, earn-out consideration, license and/or royalty arrangements, excess compensation excluding standard employment agreements, excess working capital, the value of any dividends or other distributions paid to shareholders outside the ordinary course of business, assets retained provided, that any and all deferred installments including, but not limited to, promissory notes will be valued at the present value by applying a discount rate equal to the then prevailing prime rate as quoted in The Wall Street Journal on the Closing Date, and the total amount of indebtedness assumed, forgiven, rolled-over, discharged or taken subject to (the “Aggregate Transaction Value”). . . .

Any amounts to be paid contingent upon future events shall be paid only, if, as and when received by [Boston Laser].

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[1] Melki’s understanding is not relevant.

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            B. Eli Global’s Acquisition of Boston Laser

            On April 4, 2018, Eli Global entered into an Asset Purchase Agreement (APA) with Boston Laser and others. Pursuant to the APA, the “Buyers” purchased substantially all of Boston Laser’s assets. [2] The purchase price for the assets had three components: a cash payment at closing of $11.5 million; an unsecured promissory note from Eli Global in the amount of $2.3 million; and rights under an Equity Equivalence Agreement (EEA) to (I) a defined percentage of the net proceeds of a sale of BL Holdings or (ii) a defined cash payment if Boston Laser exercised its “put” right to sell its interest in BL Holdings or BL Holdings exercised its “call” right to repurchase the interest (Equity Equivalence Interest or EEI).

            Melki was satisfied with the deal as structured, believed it was a good deal, and expected a sizeable cash payment upon exercise of the put right because he expected BL Holdings would grow and acquire other doctors and practice groups. That belief was consistent with his long-standing expectation that he would only be able to sell Boston Laser for some combination of cash and “stock.”

            C. Provident’s Fee

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Bluebook (online)
Provident Healthcare Partners, LLC v. Samir Melki and Boston Laser Eye Institute, P.C., Counsel Stack Legal Research, https://law.counselstack.com/opinion/provident-healthcare-partners-llc-v-samir-melki-and-boston-laser-eye-masssuperct-2025.