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HEALTHCARE M&A AND VALUATION
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Will Hamilton
Nov 13, 20244 min read
DME Valuation Multiples: Cardinal Health Acquires Advanced Diabetes Supply Group (~11x EBITDA)
Healthcare distribution conglomerate Cardinal Health announced it has acquired Advanced Diabetes Supply Group (ADSG) from private equity...
Will Hamilton
Nov 8, 20242 min read
Ophthalmology EBITDA Multiples: Cencora Acquires Retina Consultants of America for $4.6b (15x to 23x EBITDA)
Healthcare drug distributor Cencora has purchased Retina Consultant of America for $4.6 billion. RCA is (by far) the largest MSO in the...
Will Hamilton
Oct 8, 20242 min read
Physical Therapy EBITDA Multiples: Metro MSO Acquired by U.S. Physical Therapy, Inc. (~12.8x EBITDA)
U.S. Physical Therapy, Inc. (NYSE: USPH), a national operator of outpatient physical therapy clinics, announced that it has signed an...
Will Hamilton
Sep 11, 20244 min read
Healthcare Billing and RCM EBITDA Multiples: GeBBS Acquired by EQT for $850m (~17x EBITDA)
GeBBS Healthcare Solutions, a Los Angeles-based healthcare BPO firm, is being acquired by EQT for $850 million. GeBBS provides...
Will Hamilton
Aug 1, 20241 min read
Revenue Cycle EBITDA Multiples: R1 RCM to be Acquired for $14.30/Share (~14.3x EBITDA)
R1 RCM Inc. (NASDAQ: RCM) has entered into a definitive agreement to be acquired by TowerBrook Capital Partners and Clayton, Dubilier &...
Will Hamilton
Aug 1, 20245 min read
Healthcare Staffing EBITDA Multiples: Soliant Acquired by Vistria for $2.5b (9.6x EBITDA)
Private equity firm The Vistria Group has recapitalized / acquired / made a strategic investment in Soliant in a deal that implies an...
Will Hamilton
Jul 24, 20242 min read
Durable Medical Equipment (DME / HME) EBITDA Multiples: Rotech Acquired by Owens Minor for $1.36b (6.5x EBITDA)
Owens & Minor (NASDAQ: OMI) announced it has entered into a definitive agreement to purchase Rotech Healthcare for $1.36 billion in...
Will Hamilton
May 17, 20243 min read
Behavioral Health: Autism Services and Pediatric Therapy Valuation Multiples 2024
The autism services and pediatric therapy segments of the behavioral health industry (ABA, occupational and speech therapy, etc.)...
Will Hamilton
Apr 9, 20242 min read
Pharma Consulting EBITDA Multiples: Vista Acquires Model N for $1.25b (~25x EBITDA)
Model N (NYSE: MODN), a leader in revenue optimization and compliance for pharmaceutical, medtech, and high-tech innovators, announced...
Will Hamilton
Mar 15, 20242 min read
Hospice Valuation Multiples: VITAS Acquires Non-Profit Covenant Care for $85m
VITAS Healthcare Corporation, a subsidiary of Chemed Corporation (NYSE: CHE), announced an agreement to acquire all hospice operations...
Will Hamilton
Mar 1, 20241 min read
Hospital Multiples: Tenet Divests Two More Facilities in California (~14.5x EBITDA)
In a move indicative of a larger trend in healthcare consolidation, Tenet Healthcare Corporation (NYSE: THC) announced a definitive...
Will Hamilton
Feb 26, 20242 min read
Equipment Services Valuation: Agiliti to be Acquired for $2.5b (~9.4x EBITDA)
Agiliti Inc. (NYSE: AGTI) announced today that it will be taken private by PE firm Thomas H. Lee Partners (THL) for $10.00 per share in...
Will Hamilton
Feb 5, 20242 min read
Pharma Services EBITDA Multiples: Novo purchases CDMO Catalent for $16.5 billion (~22.9x EBITDA)
The healthcare M&A industry witnessed a significant tremor today with the announcement that Novo Holdings, the investment arm of the Novo...
Will Hamilton
Feb 2, 20242 min read
Hospital EBITDA Multiples: Tenet Sells Pacific Coast Network to UCI Health (~13.7x EBITDA)
The Regents of the University of California, on behalf of the University of California, Irvine, has entered into a definitive agreement...
Will Hamilton
Jan 12, 20242 min read
PBM EBITDA Multiples: RiteAid Divests PBM Elixir for $575m (~6.1x EBITDA)
In a saga mirroring the turbulent fortunes of the brick-and-mortar pharmacy and PBM industries, Rite Aid swallowed a bitter pill on...
Will Hamilton
Jan 10, 20242 min read
Podiatry M&A and Valuation: Majority Stake in Beyond Podiatry Sold at $87 Million Valuation (~2.6x revenue)
Albaron Partners, a middle market private equity firm, announced that it has sold Beyond Podiatry to CUC Inc., a publicly-traded Japanese...
Will Hamilton
Dec 6, 20232 min read
Healthcare RCM / Billing EBITDA Multiples: R1 RCM Acquires Providence's Acclara (29x EBITDA)
R1 RCM Inc., a leading provider of technology-driven revenue cycle management solutions for healthcare providers, announced today that it...
Will Hamilton
Nov 14, 20232 min read
Hospital Multiples: SunLink (AMEX: SSY) Sells Final Hospital, Trace Regional, for $8m (0.55x Rev)
Edit: The deal price was revised to $2.5m on January 29, 2024. SunLink Health Systems, Inc. (AMEX: SSY) announced it has signed an...
Will Hamilton
Nov 8, 20232 min read
Managed Care M&A Multiples: Community Family Care Medical Group IPA Acquisition (~8.1x EBITDA)
Apollo Medical Holdings, Inc. (NASDAQ: AMEH) announced that it entered into a definitive agreement to acquire Community Family Care...
Will Hamilton
Nov 1, 20232 min read
Medical Device Contract Manufacturing M&A: AMETEK's Acquisition of Paragon Medical (~15.2x EBITDA)
AMETEK, Inc. (NYSE: AME) announced it has entered into a definitive agreement to acquire Paragon Medical, a provider of highly engineered...
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