Gretchen E. Sherwood

Gretchen Sherwood counsels borrowers, including hospitals, health systems, and educational institutions; underwriters; and banks in connection with tax-exempt and taxable financings, strategy and compliance issues. She also represents health care entities and nonprofit organizations with various corporate matters.

What do you focus on?

I represent and counsel health-care related conduit borrowers in structuring and negotiating their taxable and tax-exempt financing transactions.  I also handle private placements and direct purchases involving banks and other financial institutions.

I regularly advise clients on ongoing compliance matters, including secondary market disclosure, Internal Revenue Service (IRS) audits, and change in use of bond-financed facilities.

I also advise health care providers implementing hospital/physician strategies, joint ventures, mergers and other strategic transactions, as well as corporate governance and formation matters.

Representative Experience

  • Representing a 14-hospital Midwest health system in connection with tax-exempt bond issues to finance a replacement health care facility
  • Served as underwriter’s counsel for tax-exempt and taxable financings for the benefit of numerous charter schools in Arizona, Colorado Illinois, Indiana, California, and North Carolina
  • Representing various domestic, national and regional banks in connection with the direct purchase of tax-exempt bonds issued on behalf of nonprofit entities located across the country
  • Performed a system-wide private use compliance analysis for the largest Catholic health care system in Illinois
  • Assisting a regional health care provider as outside counsel on various corporate transactional and compliance matters


  • “User Fees, Biosimilars on FDA Priority List for 2016,” American Health Lawyers Association, December 31, 2015


Gretchen E. Sherwood



Phone: 312-977-4143

Fax: 844-560-8133

DePaul University College of Law, J.D., health law certificate, magna cum laude, Order of the Coif

Saint Louis University, B.S., magna cum laude


  • Two-time CALI Excellence for the Future Award Recipient
  • DePaul Health Law Institute Fellow, 2012-2014
  • Illinois State Bar Association
  • American Health Lawyers Association
  • Illinois Association of Healthcare Attorneys
  • Rafiki Collaborative, Junior Board Member
Back to top