Today we’d like to introduce you to Richard Cheng.
Alright, so thank you so much for sharing your story and insight with our readers. To kick things off, can you tell us a bit about how you got started?
After earning a degree in occupational therapy from Texas Tech University Health Sciences Center (TTUHSC), I practiced as an occupational therapist (OT) for four years before leaving for law school. During those four years, I developed my knowledge base as a clinician in outpatient rehabilitation and post-acute care, primarily in skilled nursing facilities (SNFs) and home health care (HHC). In 2003, I gave up my career, sold most of my personal belongings, threw all that remained in a two seater car and drove to Florida for law school. I spent three years in South Florida and graduated with my Juris Doctor degree from Nova Southeastern University, making a lot of close connections that I still remain in contact today. I really enjoyed law school and value the life lessons I learned during that time. After law school, in 2006, my career took me to Minneapolis, Minnesota where I worked for a large organization in corporate and mergers & acquisitions (M&A) where I developed my skills as a transactional attorney. Subsequently, I was offered a position at a boutique law firm in downtown Minneapolis where I became the resident expert in healthcare fraud and compliance matters, primarily involving qui tam healthcare fraud matters.
In 2009, I moved back to Dallas and worked as the General Counsel for two separate healthcare companies in the post-acute care industry, one of which eventually became the largest Texas based SNF provider. During my tenure, I assisted with numerous acquisitions, healthcare regulatory, corporate governance, administrative law and employment matters, helping the company grow from $100 million dollar in annual revenue with 14 facilities to $750 million in revenue with 88 facilities. At that time, I decided to come back out into private practice in 2013 and re-launched my private practice career with Anderson Kill while collaborating with two other attorneys to open Anderson Kill’s first Texas office. For the next 10 years before starting Ritter Spencer Cheng, I was an income partner at an Am Law 200 law firm and an equity partner at a global Am Law 100 law firm where I practiced in the corporate practice group, healthcare section and chaired the firm’s hemp and hemp consumable products practice.
On September 25, 2023, with David Ritter and Chelsie Spencer (RSC), we started Ritter Spencer Cheng, PLLC. The focus of the firm was to service middle market businesses and investors in regulated industries, including healthcare and alternative substances. Since the inception of the firm, RSC experienced a 466% growth rate in attorney county in 2024 and we have grown from 3 attorneys to 19 attorneys while opening up offices in other states. Today, healthcare regulatory and healthcare M&A provides the majority of client representation, along with alternative substances, commercial litigation, white collar criminal defense, employment litigation, IP, bankruptcy, real estate, banking, privacy & cyber security and administrative law.
At RSC, I chair the M&A and healthcare practices. Separately, I own and run a business brokerage firm, ChOlsen M+A Advisors where I assist with sell side businesses seeking an exit from their business. In addition, I host a podcast called The Sativa Segment which has been running since August 2022. I have adjunct taught at several universities, including UNT Dallas College of Law where I taught cannabis law. Lastly, I am a certified healthcare compliance (CHC) professional through the Compliance Certification Board (CCB).
I’m sure it wasn’t obstacle-free, but would you say the journey has been fairly smooth so far?
With any endeavor that is worth pursuing that is a major part of your life will face struggles and challenges. Since transitioning into my legal career as a second career, I have faced financial, professional and personal uphill battles along the way. Taking time out to attend law school later on in life and assuming career risks, such as leaving “BigLaw” with a steady paycheck to a compensation based on collections, has been rewarding but with a hint of anxiety. In addition, collaborating with two other attorneys to start Ritter Spencer Cheng, PLLC and building it at the rate that we did faced numerous struggles along the way. But it was well worth it.
We’ve been impressed with Ritter Spencer Cheng, PLLC, but for folks who might not be as familiar, what can you share with them about what you do and what sets you apart from others?
Ritter Spencer Cheng, PLLC (“RSC”) is a Dallas-based law firm with 19 attorneys over three offices – Dallas, Miami and Minneapolis. The healthcare, M&A and alternative substances practice groups are the most robust sections. I lead the M&A and healthcare practices with my other partners leading litigation, IP, bankruptcy, alternative substances and labor & employment. Since September 25, 2023, RSC has experienced substantial growth and become a full service law firm for middle market businesses, investment platforms and high net-worth individuals.
In 2024, RSC experienced a 466% attorney headcount growth rate and experienced a very profitable 2025. Our compensation structure for our attorneys is what sets us apart, along with it being a full-service business focused law firm. Because of how we operate and the policies and practices we have in place, along with the transparency of our compensation model, it has developed into a go-to place for attorneys to develop their practices.
I am most proud of the people at our firm and the camaraderie that has been fostered over time.
Are there any apps, books, podcasts, blogs or other resources you think our readers should check out?
I listen to a variety of industry related newsletters, journals and updates to stay current with my legal practice. Because healthcare regulatory (along with alternative substances regulations) and new trends for healthcare transactions are always developing and changing, it is unlike other areas of legal practice. You have to stay current and understand the nuances in order to effectively service clients.
Aside of work, I do listen to a broad range of self improvement podcasts and motivational clips. Keep in mind, I also have my own podcast, The Sativa Segment, which I have been producing content since August 2022. Also, I did just enroll into a 6 week certification program at MIT for AI in Healthcare. The only constant is change and continuous evolution.
Contact Info:
- Website: http://ritterspencercheng.com/richard-y-cheng/
- Instagram: https://www.instagram.com/sativasegment/
- LinkedIn: https://www.linkedin.com/in/richardchengesquire/
