Industry Reports

Q3-2019 Behavioral Health Update-The behavioral health sectors continues to see robust transaction volume, highlighted by the autism services sector.

Q3-2019 Dental Services Update– Merger & acquisition activity within the dental services sector remains robust as new platforms continue to emerge and strategic consolidators expand through add-on acqusitions.

Q3-2019 Dermatology Update– Consolidation within dermatology has consistently been driven by strategic addon activity as the space gears for the next phase of consolidation.

Q3-2019 Emergency Medical Services Update– While the market for traditional founder-owned urgent care providers has diminished, large strategic consolidators remain active in pursuit of attractive markets such as the Mid-Atlantic and Texas.

Q3-2019 Healthcare IT Update– While strategic buyers have been primarily responsible for the bulk of 2019 deal flow, more non-healthcare organizations and investors have been utilizing M&A as a way to enter the market or build upon existing competencies. The result is greater flexibly and opportunities for healthcare IT companies in a deal process.

Q3-2019 Home Health & Hospice Update– Multiples are at all time highs for the home health and hospice industry, driven by the value proposition that in-home care provides to the overall health care system. Evident by Addus HomeCare’s acquisition of Hospice Partners of America, providers are willing to pay premium valuations to expand services offerings in a growing attempt to capture the entire continuum of care.

Q3-2019 Laboratory Services Update– Despite risks to future spend, stakeholders are using acquisitions to increase horizontal scale, develop new competencies in niche specialties, and integrate complementary service lines.

Q3-2019 Ophthalmology Update– With over two dozen platforms in the sector, private equity investors continue to see opportunity in vision care services.

Q3-2019 Outsourced Pharma Services Update– As the number of independent CRO’s with market share continues to decrease, motivated strategic acquirers are investing in ancillary service lines such as clinical trial management via acquisitions of new sites.

Q3-2019 Pharmacy Infusion Services Update – Deals continue to occur in both traditional areas of pharmacy services such as retail and LTC, as well as new, emerging verticals such as health system specialty pharmacy services.

Q3-2019 Physician Services Update– Consolidation activity in the physician services sector has remained robust throughout Q3 2019. Gastroenterology, Orthopaedics, and Radiology services verticals have all been especially active over the past three months.

Q3-2019 Private Equity Industry Update– Q3 of 2019 saw private equity funds raise $163B in aggregate capital. Despite the high amount of available capital to be deployed, 2019 has shown decreasing trends in deal volume and capital invested relative to 2018. Downward trends are expected to prompt sellers to seek to exit while purchase multiples are high.

Q3-2019 Rehabilitation Update – Merger and acquisition activity within the rehabilitation sector continued at a strong pace during the third quarter of 2019. Macro tailwinds, a fragmented competitive landscape, and a focus on preventative care have continued to drive consolidation and valuations.

Q3-2019 Veterinary Services Update – Transaction activity within the veterinary services sector remained steady through the third quarter, as many practices and companies continue to benefit from favorable industry trends and attractive market dynamics.

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