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Healthcare M&A and Valuation
News and Insights


Healthcare Revenue Cycle Valuation Multiples and M&A Trends 2026
The outsourced healthcare revenue cycle industry is a critical and fast-growing component of the healthcare system, responsible for managing the financial processes associated with generating revenue from payers for patient care. This includes coding, billing, claims submission, payment collection, and denial management. According to one source , the U.S. outsourced RCM market is expected to grow from $141.61 billion in 2024 to $272.78 billion by 2030, driven by increasing co
Apr 146 min read


Revenue Cycle M&A | Tenet Acquires Remaining Conifer Health Stake (~14.0x EBITDA)
On February 2, 2026, Tenet Healthcare Corporation (NYSE: THC) announced the completion of a strategic transaction with CommonSpirit Health that returns Conifer Health Solutions to full Tenet ownership. Under the agreement, CommonSpirit will pay Tenet approximately $1.9 billion over three years, while Conifer will pay CommonSpirit approximately $540 million to redeem its 23.8% equity stake, effective January 1, 2026. The total deal value, including cash payments, balance sheet
Feb 22 min read


Healthcare Revenue Cycle Valuation Multiples and M&A Trends 2025
The outsourced healthcare revenue cycle industry is a critical and fast-growing component of the healthcare system, responsible for managing the financial processes associated with generating revenue from payers for patient care. This includes coding, billing, claims submission, payment collection, and denial management. According to one source, the U.S. outsourced RCM market is expected to grow from $141.61 billion in 2024 to $272.78 billion by 2030, driven by increasing com
Mar 6, 20255 min read


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...
Sep 11, 20242 min read


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 &...
Aug 1, 20241 min read


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...
Dec 6, 20232 min read


Healthcare Revenue Cycle Management (RCM) EBITDA Multiples: CPSI Acquires Viewgol
In a strategic move to fortify its position in the ever-evolving healthcare technology sector, CPSI (Computer Programs and Systems,...
Oct 18, 20231 min read


Healthcare RCM EBITDA Multiples: PE firms Invest in Bon Secours Mercy's Ensemble (~16.7x EBITDA)
Ensemble Health Partners, a provider of technology-enabled revenue cycle management solutions for health systems, including hospitals and...
Apr 1, 20222 min read
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