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Michael L. Malone has a corporate, regulatory and finance practice that focuses primarily on the representation of health care clients and banking institutions engaged in the formation and administration of grantor royalty trusts.

Mike represents hospitals, hospital districts, physicians, physician groups, and other health care industry clients in a variety of transactional matters. These include mergers and acquisitions, the development of hospitals and other facilities, leases, managed care contracting, physician/hospital contracts, antitrust and regulatory counseling, employment contracts, taxable and tax-exempt financing, formation and reorganization of business and professional organizations, including physician/hospital joint ventures, sale and acquisition of assets, insolvencies and workouts; and related information technology and real estate matters.

Mike has, throughout his career, been engaged in the development and representation of integrated delivery systems including certified non-profit health care organizations, physician practice management companies, management service organizations, independent practice associations, financially and clinically integrated networks, population health models and accountable care organizations.

He also represents corporate trustees and institutional investors in connection with the administration of grantor royalty trusts and the administration of public debt financings, including in particular, default administrations. His work in default administration has included restructurings as well as liquidations, including foreclosures, receiverships, and bankruptcies.


  • Antitrust
  • Corporate compliance
  • Health transactional and regulatory matters
  • Health litigation
  • Health public policy group practice
  • Mergers and acquisitions
  • Public finance / municipal bonds
  • Texas regulatory



  • Represented hospitals, physicians and physician groups in the negotiation and drafting of professional service, management and other contracts.
  • Represented hospitals, physician practice management companies, and physician groups in the purchase and sale of facilities and other assets.
  • Advised institutions and individuals in the development of hospitals, ambulatory surgery centers, and other free-standing facilities.
  • Advised hospitals and physician groups on the organization of joint ventures.
  • Advised physicians and physician groups in the formation, reorganization, and expansion of group practices.
  • Counseled health care provider organizations regarding applicability of antitrust “safety zones.”
  • Advised hospitals and provider groups in managed care recovery efforts.
  • Represented trustees, issuers, and obligors in connection with the issuance of more than $1.5 billion of taxable or tax-exempt securities since 1996.
  • Advised corporate trustees and institutional holders of debt in the default administration of securities in excess of $1.3 billion.
  • Advised corporate trustees in the administration of publicly traded and privately held grantor royalty trusts.

Recognition & Leadership

  • Listed, Best Lawyers in America, Health Care Law, 1991-2024
    • "Lawyer of the Year," Health Care Law, Dallas, 2014
  • Listed, Chambers USA Guide, 2004 and 2011-2023
    • Recognized Practitioner, 2018
  • Listed, The Legal 500 United States, 2015-2016, 2018-2021
    • Health Care - Service Providers, 2016, 2018-2021
    • Health Care - Health Insurers and Service Providers, 2015
  • Listed, D Magazine, "Best Lawyers in Dallas – Health Care," 2016-2019 and 2022
  • Listed, Super Lawyers magazine, Texas Super Lawyers, 2003-2004 and 2013-2023
  • Listed, Texas' Best Lawyers, 2009-2010
  • Recipient, Nightingale's Healthcare News, "Outstanding Physician Practice Lawyers," 2007
  • Recipient, Nightingale's Healthcare News, "Outstanding Healthcare Transaction Lawyers," 2004-2005
  • Rated, AV Preeminent® 5.0 out of 5.0

°AV®, AV Preeminent®, Martindale-Hubbell DistinguishedSM and Martindale-Hubbell NotableSM are certification marks used under license in accordance with the Martindale-Hubbell® certification procedures, standards and policies.

  • Member, American Health Lawyers Association
  • Member, State Bar of Texas
    • Health Law Section
  • Life Fellow, Texas Bar Foundation
  • Member, American Bar Association 


  • J.D., The University of Texas School of Law, 1973
    • Phi Alpha Delta
  • B.A., Texas Christian University, 1970
    • Phi Alpha Theta
    • Phi Eta Sigma
  • Texas