healthcare report q3 2017 · 2 9 39 4 32 19 6 10 13 34 -10 20 30 40 50 strategic 83% financial 17%...

http://sdrventures.com/


https://www.cbinsights.com/research/top-acquirers-digital-health-tech/

https://www.fda.gov/MedicalDevices/DigitalHealth/DigitalHealthPreCertProgram/Default.htm

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2 9

39

4

32

19 6 10 13

34

-

10

20

30

40

50

Strategic83%

Financial17%

Date Target Buyer(s) SegmentAmount

($ in Mil)

TEV/

Rev

TEV/

EBITDA9/28/2017 Jefferson Radiology PC / Jefferson Imaging

Associates LLC

MEDNAX, Inc. Specialty Providers - - -

9/22/2017 Argon Medical Devices, Inc. WW Medical & Healthcare Co. Ltd. Medical Devices & Products 850.00 3.77x -

9/19/2017 Assisted Living Concepts, Inc. (Senior Housing

Communities)

Sabra Health Care REIT, Inc. Long Term & Behavioral

Care

757.14 - -

9/5/2017 NeoTract, Inc. Teleflex, Inc. Medical Devices & Products 1,100.00 21.57x -

8/29/2017 Eating Recovery Center LLC CCMP Capital Advisors LP Specialty Providers 550.00 4.77x -

8/8/2017 American Medical Response, Inc. Kohlberg Kravis Roberts & Co. LP; Air

Medical Group Holdings, Inc.

Provider Services 2,400.00 - -

8/7/2017 NxStage Medical, Inc. Fresenius Medical Care AG & Co. Medical Devices & Products 1,937.17 5.12x NM

8/2/2017 PharMerica Corp. Kohlberg Kravis Roberts & Co. LP;

Walgreens Boots Alliance, Inc.;

Pharmerica Corp.

Pharma Services 1,329.63 - -

7/17/2017 Water Pik, Inc. Church & Dwight Co., Inc. Medical Devices & Products 1,033.00 3.90x -


Financial Buyer Inv. Date Select Corporate Investments9/5/2017 ▪ SpecialtyCare, Inc.8/8/2017 ▪ American Medical Response, Inc.8/8/2017 ▪ Covenant Surgical Partners, Inc.8/2/2017 ▪ PharMerica Corp.4/18/2017 ▪ Air Medical Resource Group, Inc.

7/19/2017 ▪ Affordable Dental Care7/19/2017 ▪ Signature Smiles PC7/19/2017 ▪ Holly Dental Care P.C.2/6/2015 ▪ Pediatric Dental Practice Management Company▪6/20/2017 ▪ Dermatology Associates of Oklahoma LLC3/22/2017 ▪ Procare Physical Therapy, Inc.3/14/2017 ▪ Dermatology Center PC3/14/2017 ▪ Dermatology Consultants of Albuquerque PC2/15/2017 ▪ Physiohealth, Inc.

5/22/2017 ▪ EyeCare Services Partners Holdings LLC3/21/2017 ▪ Oakland Dermatology Associates PC1/23/2017 ▪ Dermatology Associates of Colorado1/3/2017 ▪ Castle Dermatology & Laser Center5/18/2016 ▪ Advanced Dermatology & Cosmetic Surgery Inc.

4/18/2017 ▪ CityMD2/2/2017 ▪ NeuroCall, Inc.9/29/2016 ▪ Intelligent Medical Objects, Inc.5/4/2016 ▪ DocuTAP, Inc.10/13/2015 ▪ Silk Road Medical, Inc.

Warburg Pincus LLC

Kohlberg Kravis Roberts & Co. LP

Harvest Partners LP

Silver Oak Services Partners LLC

CI Capital Partners

Strategic Buyer Inv. Date Select Corporate Acquisitions9/28/2017 ▪ Jefferson Radiology PC / Jefferson Imaging Associates LLC6/20/2017 ▪ Greater Nashville Perinatology Plc3/23/2017 ▪ Bruce E. Snyder, M.D., PLLC3/13/2017 ▪ Midwest Perinatal Associates, P.A.2/6/2017 ▪ Newborn Intensive Care Specialists P.A.

9/28/2017 ▪ Alamo Anesthesia8/1/2017 ▪ West Florida Anesthesia Associates LLC8/9/2016 ▪ Patients First, Inc.6/30/2016 ▪ Arapahoe Gastroenterology Anesthesia Associates, LLC

6/2/2016 ▪ Austin Gastroenterology Anesthesia Associates, LLC

9/5/2017 ▪ Walnut Holdings LLC9/5/2017 ▪ Quince Holdings LLC7/10/2017 ▪ Bijou Healthcare, Inc.7/10/2017 ▪ Sunny Acres Healthcare, Inc.6/27/2017 ▪ Brookdale Senior Living, Inc. (5 Living Facilities)

7/5/2017 ▪ Infinity Healthcare, Inc.6/29/2017 ▪ Anesthesia Associates of New London PC3/7/2017 ▪ Imaging Advantage LLC1/6/2017 ▪ Emergency Professional Services PC1/4/2017 ▪ Sunshine Radiology LLC

9/19/2017 ▪ Sacred Heart HealthCare System9/13/2017 ▪ Blue Mountain Health System, Inc.12/19/2016 ▪ The Bishop Spencer Place, Inc.

MEDNAX, Inc.

CRH Medical Corp.

The Ensign Group, Inc.

Envision Healthcare Corp.

St. Luke's Health Network, Inc.


-30%

-25%

-20%

-15%

-10%

-5%

0%

5%

10%

15%

20%

Dental Products & Providers Medical Devices & Products Medical Product DistributionSpecialty Providers Pharma Services Practice ManagementProvider Services Long Term & Behavioral Care General ProvidersS&P 500

Company Name SymbolMarket Cap

($ in Mil)Price ($)

Quarter

Change

YTD

Change

% of 52

Week High

Est.

Revenue

Growth

EBITDA

Margin

TEV/

Rev

TEV/

EBITDA

Price/

EPS

TEV/

NTM

Revenue

TEV/

NTM

EBITDA

Zimmer Biomet Holdings, Inc. ZBH 23,675$ 117.09$ -8.8% 13.5% 87.7% 2.9% 35.8% 4.4x 12.6x 33.4x 4.3x 11.0x

DENTSPLY SIRONA, Inc. XRAY 13,727 59.81 -7.8% 3.6% 91.1% 7.1% 20.5% 3.9x 19.0x (17.2x) 3.7x 15.3x

Henry Schein, Inc. HSIC 12,964 81.99 -10.4% 8.1% 87.7% 7.2% 8.4% 1.3x 14.8x 24.0x 1.2x 13.6x

Align Technology, Inc. ALGN 14,930 186.27 24.1% 93.8% 98.0% 30.6% 25.9% 11.6x 46.7x NM 9.0x 34.0x

Patterson Cos., Inc. PDCO 3,699 38.65 -17.7% -5.8% 78.5% 1.6% 6.0% 0.9x 9.7x 22.5x 0.8x 11.0x

Cantel Medical Corp. CMN 3,929 94.17 20.9% 19.6% 99.6% 15.6% 18.4% 5.2x 28.0x 55.1x 4.5x 21.7x

BIOLASE, Inc. BIOL 46 0.60 -37.9% -56.9% 31.7% 10.3% (33.2%) 0.7x NM (1.8x) 0.6x (3.2x)

Milestone Scientific, Inc. MLSS 41 1.25 -16.7% -10.7% 57.1% 41.5% (60.3%) 3.5x NM (6.9x) 2.5x NM

Pro-Dex, Inc. PDEX 30 7.25 17.9% 54.3% 91.8% 8.4% 17.2% 1.2x 7.5x 6.1x 1.0x 11.8x

Birner Dental Management Services, Inc. BDMS 10 5.50 -56.2% -65.6% 27.7% NM (2.5%) 0.3x 19.8x (4.7x) NM NM

Segment Average $7,305 (9.3%) 5.4% 75.1% 13.9% 3.6% 3.3x 19.8x 12.3x 3.1x 14.4xSegment Median $3,814 (9.6%) 5.8% 87.7% 8.4% 12.8% 2.4x 16.9x 6.1x 2.5x 12.7x

Market Stats Operating Stats LTM Multiples NTM Multiples



($ in Mil)Price ($)

Quarter

Change

YTD

Change

% of 52

Week High

Est.

Revenue

Growth

EBITDA

Margin

TEV/

Rev

TEV/

EBITDA

Price/

EPS

TEV/

NTM

Revenue

TEV/

NTM

EBITDA

Medtronic Plc MDT 105,347$ 77.77$ -12.4% 9.2% 86.7% (0.2%) 29.8% 4.2x 13.3x 26.2x 4.3x 13.1x

Abbott Laboratories ABT 92,710 53.36 9.8% 38.9% 97.4% 16.1% 16.6% 4.5x 24.5x 74.7x 3.9x 14.3x

Stryker Corp. SYK 53,124 142.02 2.3% 18.5% 95.4% 7.9% 26.9% 4.7x 17.3x 31.7x 4.5x 15.5x

Becton, Dickinson & Co. BDX 44,591 195.95 0.4% 18.4% 94.8% 4.4% 28.9% 4.1x 15.3x 57.0x 3.8x 10.9x

Boston Scientific Corp. BSX 40,025 29.17 5.2% 34.9% 99.2% 8.1% 26.7% 5.2x 20.8x 51.7x 4.9x 17.1x

Baxter International, Inc. BAX 34,191 62.75 3.7% 41.5% 96.9% 5.3% 21.6% 3.3x 15.5x 37.8x 3.2x 13.3x

Intuitive Surgical, Inc. ISRG 38,995 348.63 11.8% 64.9% 99.2% 14.7% 37.5% 12.9x 34.4x 50.0x 11.6x 26.4x

Zimmer Biomet Holdings, Inc. ZBH 23,675 117.09 -8.8% 13.5% 87.7% 2.9% 35.8% 4.4x 12.6x 33.4x 4.3x 11.0x

Edwards Lifesciences Corp. EW 23,082 109.31 -7.6% 16.7% 89.8% 12.9% 32.5% 7.1x 21.8x 33.1x 6.4x 19.1x

C.R. Bard, Inc. (New Jersey) BCR 23,291 320.50 1.4% 42.7% 98.7% 7.3% 31.7% 6.2x 19.7x 42.1x 6.0x 17.5x

ABIOMED, Inc. ABMD 7,436 168.60 17.7% 49.6% 98.6% 36.9% 27.0% 15.2x NM NM 11.5x 29.1x

Integra LifeSciences Holdings Corp. IART 3,941 50.48 -7.4% 17.7% 89.5% 14.6% 21.7% 4.5x 19.2x 61.6x 3.9x 16.5x

Wright Medical Group NV WMGI 2,698 25.87 -5.9% 12.6% 82.0% 17.7% 6.6% 4.5x NM (12.6x) 3.8x 28.0x

Johnson & Johnson JNJ 348,947 130.01 -1.7% 12.8% 94.8% 8.7% 35.6% 5.1x 14.6x 22.0x 4.8x 13.3x



($ in Mil)Price ($)

Quarter

Change

YTD

Change

% of 52

Week High

Est.

Revenue

Growth

EBITDA

Margin

TEV/

Rev

TEV/

EBITDA

Price/

EPS

TEV/

NTM

Revenue

TEV/

NTM

EBITDA

Danaher Corp. DHR 59,591$ 85.78$ 1.6% 10.2% 96.8% 6.7% 23.6% 4.0x 19.9x 27.4x 3.8x 16.0x

Stryker Corp. SYK 53,124 142.02 2.3% 18.5% 95.4% 7.9% 26.9% 4.7x 17.3x 31.7x 4.5x 15.5x

McKesson Corp. MCK 32,298 153.61 -6.6% 9.4% 90.7% 4.4% 1.6% 0.2x 9.7x 7.0x 0.2x 8.9x

Cardinal Health, Inc. CAH 21,094 66.92 -14.1% -7.0% 78.8% 6.6% 2.5% 0.2x 7.7x 16.6x 0.2x 7.5x

AmerisourceBergen Corp. ABC 18,132 82.75 -12.5% 5.8% 84.6% 8.8% 1.4% 0.1x 8.5x NM 0.1x 8.8x

Henry Schein, Inc. HSIC 12,964 81.99 -10.4% 8.1% 87.7% 7.2% 8.4% 1.3x 14.8x 24.0x 1.2x 13.6x

Patterson Cos., Inc. PDCO 3,699 38.65 -17.7% -5.8% 78.5% 1.6% 6.0% 0.9x 9.7x 22.5x 0.8x 11.0x

Owens & Minor, Inc. OMI 1,788 29.20 -9.3% -17.3% 78.9% 5.9% 2.6% 0.2x 8.7x 18.6x 0.2x 8.1x

PharMerica Corp. PMC 912 29.30 11.6% 16.5% 99.7% 15.8% 5.8% 0.6x 10.0x 39.6x 0.5x 8.8x

Aceto Corp. ACET 338 11.23 -27.3% -48.9% 50.0% 21.8% 8.1% 1.0x 9.8x 32.1x 0.9x 8.5x



($ in Mil)Price ($)

Quarter

Change

YTD

Change

% of 52

Week High

Est.

Revenue

Growth

EBITDA

Margin

TEV/

Rev

TEV/

EBITDA

Price/

EPS

TEV/

NTM

Revenue

TEV/

NTM

EBITDA

Fresenius Medical Care AG & Co. KGaA FMS 30,134$ 48.89$ 1.2% 15.8% 97.4% 16.2% 16.7% 2.1x 11.0x 24.2x 1.8x 9.5x

DaVita, Inc. DVA 11,355 59.39 -8.3% -7.5% 84.6% 4.7% 16.4% 1.4x 8.5x 9.1x 1.3x 8.2x

MEDNAX, Inc. MD 4,035 43.12 -28.6% -35.3% 59.8% 7.3% 17.5% 1.7x 9.1x 13.7x 1.6x 9.5x

Envision Healthcare Corp. AMSG 5,431 44.95 -28.3% -29.0% 60.1% 39.9% 15.1% 2.0x 12.3x (8.7x) 1.4x 10.7x

HealthSouth Corp. HLS 4,576 46.35 -4.2% 12.4% 93.2% 9.1% 21.0% 2.0x 9.2x 16.9x 1.8x 8.9x

American Renal Associates Holdings, Inc. ARA 468 14.97 -19.3% -29.7% 58.9% 8.5% 22.3% 1.7x 8.5x NM 1.5x 11.2x

Adeptus Health, Inc. ADPT 20 1.22 -28.7% -84.0% 2.8% NM NM 0.6x 7.0x NM NM NM

LHC Group, Inc. LHCG 1,297 70.92 4.5% 55.2% 99.0% 14.0% 10.0% 1.5x 15.4x 31.4x 1.3x 14.3x

AAC Holdings, Inc. AAC 239 9.93 43.3% 37.2% 49.7% 10.5% 14.1% 1.5x 17.4x NM 1.3x 7.0x




($ in Mil)Price ($)

Quarter

Change

YTD

Change

% of 52

Week High

Est.

Revenue

Growth

EBITDA

Margin

TEV/

Rev

TEV/

EBITDA

Price/

EPS

TEV/

NTM

Revenue

TEV/

NTM

EBITDA

Universal Health Services, Inc. UHS 9,807$ 110.94$ -9.1% 4.3% 85.5% 15.3% 17.0% 1.5x 8.6x 15.1x 1.3x 8.1x

HCA Healthcare, Inc. HCA 28,752 79.59 -8.7% 7.5% 87.4% 6.2% 19.4% 1.5x 7.5x 10.7x 1.4x 7.2x

Community Health Systems, Inc. CYH 881 7.68 -22.9% 37.4% 65.4% (14.2%) 9.8% 0.9x 8.1x (1.4x) 1.0x 8.4x

LifePoint Health, Inc. LPNT 2,323 57.90 -13.8% 1.9% 81.6% 2.6% 11.9% 0.8x 6.9x 13.0x 0.8x 6.5x

Tenet Healthcare Corp. THC 1,656 16.43 -15.0% 10.7% 68.1% (0.1%) 10.8% 1.0x 9.0x (8.4x) 1.0x 7.5x



($ in Mil)Price ($)

Quarter

Change

YTD

Change

% of 52

Week High

Est.

Revenue

Growth

EBITDA

Margin

TEV/

Rev

TEV/

EBITDA

Price/

EPS

TEV/

NTM

Revenue

TEV/

NTM

EBITDA

WellCare Health Plans, Inc. WCG 7,644$ 171.74$ -4.4% 25.3% 92.9% 20.5% NM 0.3x NM 30.2x 0.3x 5.7x

HealthEquity, Inc. HQY 3,060 50.58 1.5% 24.8% 92.0% 29.0% 35.4% 14.1x 46.0x 75.5x 11.1x 29.8x



($ in Mil)Price ($)

Quarter

Change

YTD

Change

% of 52

Week High

Est.

Revenue

Growth

EBITDA

Margin

TEV/

Rev

TEV/

EBITDA

Price/

EPS

TEV/

NTM

Revenue

TEV/

NTM

EBITDA

Cerner Corp. CERN 23,649$ 71.32$ 7.3% 50.6% 98.7% 10.7% 30.5% 4.7x 15.4x 36.0x 4.3x 13.0x

Healthcare Services Group, Inc. HCSG 3,950 53.97 15.2% 37.8% 96.9% 20.4% 7.2% 2.3x 30.0x 47.3x 2.0x 24.0x

HMS Holdings Corp. HMSY 1,669 19.86 7.4% 9.4% 89.1% 23.8% 24.7% 3.7x 17.4x 56.7x 3.1x 12.6x

The Advisory Board Co. ABCO 2,186 53.63 4.1% 61.3% 90.1% 4.3% 10.4% 3.3x 21.6x 20.4x 3.2x 13.0x

Omnicell, Inc. OMCL 1,912 51.05 18.4% 50.6% 96.9% 17.2% 6.5% 3.1x NM NM 2.7x 16.3x

Evolent Health, Inc. EVH 1,329 17.80 -29.8% 20.3% 64.7% 44.7% (11.2%) 3.7x NM (16.6x) 2.1x NM

Providence Service Corp. PRSC 730 54.08 6.9% 42.1% 98.3% 11.0% 3.3% 0.5x 22.5x (7.9x) 0.4x 10.9x



($ in Mil)Price ($)

Quarter

Change

YTD

Change

% of 52

Week High

Est.

Revenue

Growth

EBITDA

Margin

TEV/

Rev

TEV/

EBITDA

Price/

EPS

TEV/

NTM

Revenue

TEV/

NTM

EBITDA

CVS Health Corp. CVS 82,667$ 81.32$ 1.1% 3.1% 90.4% 5.4% 6.3% 0.6x 8.4x 16.3x 0.6x 8.3x

Express Scripts Holding Co. ESRX 36,570 63.32 -0.8% -8.0% 81.7% 2.3% 7.2% 0.5x 6.7x 11.1x 0.5x 6.7x

Perrigo Co. Plc PRGO 12,072 84.65 12.1% 1.7% 87.1% (2.5%) 24.0% 3.0x 14.1x (4.1x) 3.1x 13.5x

Allscripts Healthcare Solutions, Inc. MDRX 2,570 14.23 11.5% 39.4% 98.5% 23.9% 16.9% 2.6x 16.6x (13.4x) 2.1x 10.7x

Magellan Health, Inc. MGLN 2,044 86.30 18.4% 14.7% 99.5% 28.7% 3.0% 0.4x 7.7x 24.7x 0.3x 5.2x




($ in Mil)Price ($)

Quarter

Change

YTD

Change

% of 52

Week High

Est.

Revenue

Growth

EBITDA

Margin

TEV/

Rev

TEV/

EBITDA

Price/

EPS

TEV/

NTM

Revenue

TEV/

NTM

EBITDA

National HealthCare Corp. NHC 951$ 62.57$ -10.8% -17.4% 79.2% NM 10.0% 0.9x 8.5x 19.7x NM NM

The Ensign Group, Inc. ENSG 1,149 22.59 3.8% 1.7% 96.7% 5.5% 7.0% 0.8x 11.5x 26.3x 0.8x 7.7x

Civitas Solutions, Inc. CIVI 689 18.45 5.4% -7.3% 88.0% 8.0% 10.6% 0.9x 8.7x 35.5x 0.8x 7.5x

Acadia Healthcare Co., Inc. ACHC 4,195 47.76 -3.3% 44.3% 87.9% 6.7% 21.6% 2.6x 12.8x NM 2.4x 10.9x

SunLink Health Systems, Inc. SSY 14 1.50 -9.6% 24.4% 88.2% NM (6.3%) 0.2x NM (3.1x) NM NM

AAC Holdings, Inc. AAC 239 9.93 43.3% 37.2% 49.7% 10.5% 14.1% 1.5x 17.4x (49.7x) 1.3x 7.0x




($ in Mil)

TEV/

Rev

TEV/

EBITDA9/29/2017 St. Croix Hospice LLC The Vistria Group LP Long Term & Behavioral

Care

- - -

9/28/2017 Jefferson Radiology PC / Jefferson Imaging

Associates LLC

MEDNAX, Inc. Specialty Providers - - -

9/28/2017 Shiel Medical Laboratory, Inc. Quest Diagnostics, Inc. Provider Services - - -

9/28/2017 Eye & Ear Clinic of Wenatchee, Inc. Confluence Health Specialty Providers - - -

9/28/2017 Comfort Hospice Care LLC Cornerstone Healthcare, Inc. Long Term & Behavioral

Care

- - -

9/28/2017 Alamo Anesthesia CRH Medical Corp. Specialty Providers - - -

9/27/2017 Sagemax Bioceramics, Inc. Ivoclar Vivadent AG Dental Products - - -

9/27/2017 Bird & Cronin, Inc. Dynatronics Corp. Medical Devices & Products 15.50 - -

9/27/2017 New Mexico Health Connections (Health Plan

Management Services)

True Health New Mexico, Inc. Practice Management 10.25 - -

9/27/2017 Freedom Innovations LLC Otto Bock HealthCare GmbH Medical Devices & Products - - -

9/27/2017 Foresight Medical LLC Paradigm Management Services LLC Practice Management - - -

9/25/2017 CareLinx, Inc. Generali Global Assistance, Inc. Long Term & Behavioral

Care

- - -

9/25/2017 Peak Payer Solutions, Inc. Episource LLC Practice Management - - -

9/25/2017 Medical Center For Clinical Research, Inc. Wake Research Associates LLC Provider Services - - -

9/22/2017 Miraca Life Sciences, Inc. Avista Capital Holdings LP Specialty Providers 175.60 - -

9/22/2017 Argon Medical Devices, Inc. WW Medical & Healthcare Co. Ltd.; WW

Medical & Healthcare Holdings Corp.

Medical Devices & Products 850.00 3.77x -

9/22/2017 The Work Center, Inc. BDT Capital Partners LLC; Athletico Ltd. Long Term & Behavioral

Care

- - -

9/21/2017 Village Ambulance Service, Inc. North Adams Ambulance Service, Inc. Provider Services - - -

9/20/2017 Performance Nutrition Center LLC Agritek Holdings, Inc. Medical Product Distribution - - -

9/19/2017 SimplyWell LLC Viverae, Inc. Specialty Providers - - -

9/19/2017 Assisted Living Concepts, Inc. (Senior Housing

Communities)

Sabra Health Care REIT, Inc. Long Term & Behavioral

Care

757.14 - -

9/19/2017 Sacred Heart HealthCare System St. Luke's Health Network, Inc. General Providers - - -

9/19/2017 Highlands Regional Medical Center Gentiva Health Services, Inc.;

Appalachian Regional Healthcare, Inc.

General Providers - - -

9/18/2017 Pharmacy Systems, Inc. Comprehensive Pharmacy Services, Inc. Pharma Services - - -

9/15/2017 Riverside Regional Med Ctr (Riverside Shore Rehab) Smith/Packett Med-Com LLC Long Term & Behavioral

Care

- - -

9/14/2017 Homewatch International, Inc. Authority Brands (PNC Riverarch Capital) Long Term & Behavioral

Care

- - -

9/14/2017 G&H Wire Co., Inc. Altaris Capital Partners LLC Dental Products - - -

9/13/2017 AdCare, Inc. AAC Healthcare Network, Inc. General Providers 85.00 - -

9/13/2017 Diabeto, Inc. Draper Fisher Jurvetson Management

LLC

Specialty Providers - - -

9/13/2017 Blue Mountain Health System, Inc. St. Luke's Health Network, Inc. General Providers - - -

9/12/2017 Island Dermatology PC Clear Clinic & Schweiger Dermatology

Management Co. LLC


9/12/2017 Promedica Health Systems, Inc. (6 Pharmacies) CVS Pharmacy, Inc. Pharma Services - - -

9/12/2017 East Texas Medical Center Regional Healthcare

System

Ardent Health Services LLC; The

University of Texas System; East Texas

Medical Center Reg Healthcare Sys

(Private Group); The University of Texas

Health Science Center At Tyler


9/11/2017 Integra Lifesciences Holdings Corp. (Neurosurgery

Assets)

Natus Medical, Inc. Medical Devices & Products 47.50 - -



($ in Mil)

TEV/

Rev

TEV/

EBITDA9/11/2017 AME LLC Nova Leap Health NH LLC Long Term & Behavioral

Care

0.95 - -

9/8/2017 BioMedical Systems Corp. eResearchTechnology, Inc. Provider Services 185.00 - -

9/8/2017 CynoGen, Inc. Prognos, Inc. Provider Services 2.88 - -

9/8/2017 Vantage Medical Supplies, Inc. Dealmed Medical Supplies LLC Medical Product Distribution - - -

9/7/2017 Medcart Pharmacy PharmScript LLC Pharma Services - - -

9/7/2017 Qualyst, Inc. Arsenal Capital Management LLC;

Thompson Street Capital

Medical Devices & Products - - -

9/7/2017 Kids Dental Kare Western Dental Services, Inc. Dental Providers - - -

9/7/2017 Vertera, Inc. NuVasive, Inc. Medical Devices & Products - - -

9/7/2017 Emergency Medicine Associates, P.A., P.C. Island Medical Management Holdings

LLC


9/6/2017 Alternative Behavior Strategies, Inc. Petra Capital Partners LLC; MMC Health

Services, Inc.; Alternative Behavior

Strategies, Inc. (Private Group)

Long Term & Behavioral

Care

- - -

9/6/2017 Innovatus Imaging Corp. Resilience Capital Partners LLC Medical Devices & Products - - -

9/6/2017 SinfoníaRx Inc. Tabula Rasa Healthcare, Inc. Pharma Services 130.00 - -

9/6/2017 Sinfonía HealthCare Corp. Tabula Rasa Healthcare, Inc. Pharma Services 46.54 1.72x -

9/6/2017 MD Medtech LLC Resilience Capital Partners LLC Medical Devices & Products - - -

9/6/2017 Beyond Faith Homecare & Rehab LLC Hospice LLC LifeCare Holdings LLC Long Term & Behavioral

Care

- - -

9/5/2017 NeoTract, Inc. Teleflex, Inc. Medical Devices & Products 1,100.00 21.57x -

9/5/2017 2 Arizona Facilities (Walnut Holdings & Quince

Holdings)

The Ensign Group, Inc. Long Term & Behavioral

Care

- - -

9/5/2017 Emmanuel Kandkhorov, D.D.S., Inc Smile Brands, Inc.; A+ Dental Corp. Dental Providers - - -

9/5/2017 Medical Imaging Systems, Inc. Alpha Imaging, Inc. Medical Product Distribution - - -

9/5/2017 SpecialtyCare, Inc. Kohlberg & Co. LLC; Management

(Private Group)

Provider Services - - -

9/1/2017 Tenet Healthcare Corp. (Select Assets) American Academic Health System LLC;

Paladin Healthcare LLC

General Providers 170.00 - -

9/1/2017 PinnacleHealth System The University of Pittsburgh Medical

Center


9/1/2017 Providence Health & Services (Lifeline Medical Alert

Services)

Tunstall Healthcare Group Ltd.; Tunstall

Americas


Care

- - -

8/31/2017 Intercity Home Care, Inc. Associated Home Care, Inc. Long Term & Behavioral

Care

- - -

8/31/2017 Venus Biotherapeutics Sub LLC Saol International Ltd. Medical Devices & Products 72.50 - -

8/31/2017 Rockdale Medical Center, Inc. Piedmont Healthcare, Inc. General Providers - - -

8/30/2017 Founders Healthcare LLC (California Respiratory

Assets)

SuperCare, Inc. Long Term & Behavioral

Care

- - -

8/30/2017 San Juan Endoscopy Center LLC San Juan Regional Medical Center, Inc. Specialty Providers - - -

8/29/2017 Eating Recovery Center LLC CCMP Capital Advisors LP Specialty Providers 550.00 4.77x -

8/28/2017 Aduro Sverica Capital Management LLC;

Resonetics LLC


8/25/2017 Childrens Dental Group Co. (8 Branches) Western Dental Services, Inc. Dental Providers - - -

8/24/2017 Somers Smiles Somers Smiles (Ferranti Gianna) Dental Providers - - -

8/24/2017 David Kloth M.D. P.C. Western Connecticut Orthopedic

Specialists, P. C.


8/23/2017 Radiology Associates of South Florida PA MEDNAX, Inc. Specialty Providers - - -



($ in Mil)

TEV/

Rev

TEV/

EBITDA8/23/2017 Habilitative Services, Inc. Civitas Solutions, Inc. Long Term & Behavioral

Care

- - -

8/22/2017 The Clorox Co. /Aplicare skin antisepsis Business/ Medline Industries, Inc. Medical Devices & Products - - -

8/22/2017 Presence Health Ascension Health, Inc. General Providers - - -

8/21/2017 RadQual LLC International Isotopes, Inc.;

Management (Private Group)


8/21/2017 Minimally Invasive Devices, Inc. Cagan Capital LLC; Management

(Private Group)


8/21/2017 HHA, Inc. (Highland Sub) Meridian Behavioral Health Systems LLC Long Term & Behavioral

Care

29.00 - -

8/18/2017 Advanced Pain Medicine Commonwealth Pain & Spine Specialty Providers - - -

8/17/2017 ClearCorrect Systems LLC Straumann Holding AG Medical Devices & Products 150.00 - -

8/17/2017 Oconomowoc Residential Programs, Inc. Oconomowoc Residential Programs,

Inc. (Employees)


Care

- - -

8/16/2017 Martin Dermatology LLC Riverchase Dermatology & Cosmetic

Surgery LLC


8/16/2017 Intergo Health Services, Inc. Liberated Energy, Inc. Long Term & Behavioral

Care

- - -

8/15/2017 DuPage Medical Group Ltd. Ares Capital Management LLC (Private

Equity)


8/14/2017 ELIPSe, Inc. Xtend Healthcare LLC Practice Management - - -

8/11/2017 Forest Park Dental New MainStream Capital; CORDENTAL

Group

Dental Providers - - -

8/11/2017 LG Medical Technologies, Inc. InSight Health Services Holdings Corp. Medical Devices & Products - - -

8/10/2017 Personalized Biomarkers, Inc. Victory Square Health, Inc. Medical Devices & Products 1.52 - -

8/10/2017 Belmar Physical Therapy PC Physical Rehabilitation Network LLC Long Term & Behavioral

Care

- - -

8/10/2017 Whatcom Physical Therapy, Inc. GPB Capital Holdings LLC Long Term & Behavioral

Care

- - -

8/9/2017 Independence Healthcare Corp. All Metro Health Care Services, Inc.;

OEP Capital Advisors LP


Care

- - -

8/9/2017 Clinical Benchmarking LLC Pinnacle Healthcare Consulting LLC Practice Management - - -

8/9/2017 Women's Health USA, Inc. Sverica Capital Management LLC Specialty Providers - - -

8/9/2017 Diagnostic Imaging Associates RadNet, Inc. Provider Services 14.50 - -

8/9/2017 Endeavor Clinical Trials LLC Evolution Research Group LLC Provider Services - - -

8/8/2017 American Medical Response, Inc. Kohlberg Kravis Roberts & Co. LP; Air

Medical Group Holdings, Inc.

Provider Services 2,400.00 - -

8/8/2017 Covenant Surgical Partners, Inc. KKR Management Holdings LP;

Kohlberg Kravis Roberts & Co. LP


8/8/2017 Center of Hope of Myrtle Beach LLC Revelstoke Capital Partners LLC;

Treatment Centers Holdco LLC


Care

- - -

8/8/2017 Neocell Corp. Wellnext LLC; WM Partners LP Medical Devices & Products - - -

8/7/2017 NxStage Medical, Inc. Fresenius Medical Care AG & Co. KGaA Medical Devices & Products 1,937.17 5.12x 65.01x

8/4/2017 VSM Management LLC Pouschine Cook Capital Management

LLC; Stockwell Capital LLC


8/3/2017 RTI Surgical, Inc. /Cardiothoracic Closure Business/ Madison Capital Funding LLC; RCP

Advisors LLC

Specialty Providers 60.00 - -

8/3/2017 Northfield Medical LLC Frazier Management LLC; PREZIO

Health, Inc.


8/2/2017 PharMerica Corp. Kohlberg Kravis Roberts & Co. LP;

Walgreens Boots Alliance, Inc.

Pharma Services 1,329.63 - -

8/2/2017 CytoBioscience, Inc. Skyline Medical, Inc. Medical Devices & Products 1.85 - -

8/2/2017 ComplexCare Solutions, Inc. Inovalon Holdings, Inc. Practice Management 6.00 - -

8/2/2017 Serenity Sleep Lab LLC STHS Sleep Center LLC Specialty Providers - - -

8/1/2017 West Florida Anesthesia Associates LLC CRH Medical Corp. Specialty Providers 10.62 - -



($ in Mil)

TEV/

Rev

TEV/

EBITDA8/1/2017 Prince Marketing & Communications, Inc. Service Management Group, Inc.

(Missouri)

Practice Management - - -

7/31/2017 Good Start Genetics, Inc. Invitae Corp. Specialty Providers 33.99 - -

7/26/2017 Millennium Surgical Corp. Arlington Capital Partners LLC; Avalign

Technologies, Inc.


7/26/2017 Vitalogy Pa Frazier Management LLC; MWD

Management LLC


7/25/2017 Medical Technical Products LP Shanghai New Eyes Medical Co., Ltd. Medical Devices & Products 2.50 - -

7/25/2017 Two Care Facilities Mainstreet Property Group LLC Long Term & Behavioral

Care

47.30 - -

7/25/2017 Cas Medical Systems, Inc. /NIBP Business/ SunTech Medical, Inc. Medical Devices & Products 6.50 - -

7/25/2017 Zavation Medical Products LLC LongueVue Capital LLC; Management

(Private Group)


7/25/2017 The Center For Professional Excellence JourneyPure, Inc. Specialty Providers - - -

7/24/2017 ComForcare Senior Services, Inc. Riverside Partners LLC (New York) Long Term & Behavioral

Care

- - -

7/24/2017 Hanover HealthCarePLUS Network UPMC Pinnacle General Providers - - -

7/21/2017 Sebring Hospital Management Associates LLC HCA Healthcare, Inc. General Providers - - -

7/20/2017 Woodbury Health Products, Inc. ConvaTec Group Plc Medical Product Distribution 120.50 - -

7/20/2017 NeuroOne Medical Technologies Corp. Neuroone, Inc. Specialty Providers 2.01 - -

7/20/2017 HemaSource, Inc. Ridgemont Partners Management LLC Practice Management 250.00 - -

7/19/2017 Alpha-Tec Systems, Inc. StoneCalibre LLC Medical Devices & Products - - -

7/19/2017 Affordable Dental Care Silver Oak Services Partners LLC; Dental

Associates PC


7/19/2017 Signature Smiles PC Silver Oak Services Partners LLC; Dental

Associates PC


7/19/2017 Holly Dental Care P.C. Silver Oak Services Partners LLC; Dental

Associates PC


7/18/2017 NeoForce Group, Inc. Flexicare Medical Ltd Medical Devices & Products 0.72 - -

7/18/2017 Precision Eye Care, A Medical Corp. Acuity Eye Specialists Specialty Providers - - -

7/17/2017 Alere, Inc. (Triage & BNP Businesses) Quidel Corp. Medical Devices & Products 680.00 - -

7/17/2017 Water Pik, Inc. Church & Dwight Co., Inc. Medical Devices & Products 1,033.00 3.90x -

7/17/2017 DeKalb Medical Center, Inc. U.S. HealthWorks, Inc. General Providers - - -

7/17/2017 Encore Health Resources LLC emids Technologies Pvt Ltd. Corp. Practice Management - - -

7/17/2017 Georgia Reproductive Specialists LLC Shady Grove Fertility Centers, Inc. Specialty Providers - - -

7/15/2017 Tumbleweed Center For Youth Development UMOM New Day Centers, Inc. Long Term & Behavioral

Care

1.00 - -

7/14/2017 Multicultural Medical Group, Inc. Employee Health Systems Medical

Group, Inc.


7/13/2017 Senior Whole Health LLC Magellan Healthcare, Inc. General Providers 400.00 - -

7/13/2017 Park Avenue Medical, Inc. Davita Medical Group (Colarado) General Providers - - -

7/13/2017 Coastal Life Technologies, Inc. JLL Partners, Inc.; MedPlast Tempe, Inc.;

Water Street Healthcare Partners LLC


7/13/2017 Winter Park Health Center, Inc. Davita Medical Group (Colorado) General Providers - - -

7/13/2017 Medication Management Systems, Inc. Genoa, A Qol Healthcare Co. LLC Long Term & Behavioral

Care

- - -

7/13/2017 Ameribest Home Care, Inc. Boyne Capital Partners LLC; Ameribest

Home Care Inc (Private Group)


Care

- - -

7/13/2017 Arrow Physical Therapy & Rehabilitation LLC GPB Capital Holdings LLC (Private

Group)


Care

- - -

7/12/2017 Rennova Health, Inc. (Advanced Molecular Services

Group)

Shareholders Provider Services - - -



($ in Mil)

TEV/

Rev

TEV/

EBITDA7/12/2017 Digestive Health Physicians & Outpatient Anesthesia

Splst LLC

Gastro Health LLC Specialty Providers - - -

7/12/2017 Elder Eyes LLC Good Vibrations Shoes, Inc. Medical Devices & Products - - -

7/12/2017 Accent Optics, Inc. Vision Care Specialists, Inc. Specialty Providers - - -

7/11/2017 Certara USA, Inc. EQT Partners AB Provider Services - - -

7/11/2017 HolaDoctor, Inc. Pan-American Life Insurance Co. Practice Management - - -

7/11/2017 Accuray, Inc. (Cyberknife M6 & Radixact Systems) Neuro Spinal Hospital Medical Devices & Products - - -

7/11/2017 eHealthScreenings LLC Water Street Healthcare Partners LLC;

Premise Health Holding Corp.

Provider Services - - -

7/11/2017 Weatherford Regional Medical Center HCA Healthcare, Inc. General Providers - - -

7/11/2017 Phase 2 Medical Manufacturing, Inc. Kidd & Co. LLC; Nexcore Technology

LLC


7/10/2017 SynGen, Inc. Boyalife Group Co. Ltd.; Thermogenesis

Corp. (California)

Medical Devices & Products 7.44 - -

7/10/2017 Bijou Healthcare, Inc. The Ensign Group, Inc. Long Term & Behavioral

Care

- - -

7/10/2017 Sunny Acres Healthcare, Inc. The Ensign Group, Inc. Long Term & Behavioral

Care

- - -

7/10/2017 Carefree Hearing, Inc. Salt Creek Capital Management LLC Medical Devices & Products - - -

7/7/2017 Spirox, Inc. Entellus Medical, Inc. Medical Devices & Products 81.13 - -

7/6/2017 OB Hospitalist Group, Inc. Gryphon Investors, Inc. Specialty Providers - - -

7/6/2017 Swagel-Wootton Eye Center, Inc. Cortec Group Management Services

LLC; Eye Academy of America Ltd.


7/5/2017 Northside Emergency Associates PC Envision Physician Services Specialty Providers - - -

7/5/2017 A Place for Mom, Inc. General Atlantic LLC; Silver Lake

Management Co. LLC; A Place for

Mom, Inc. (Private Group)


Care

- - -

7/5/2017 MedShape, Inc. CONMED Corp. Medical Devices & Products - - -

7/5/2017 Infinity Healthcare, Inc. Envision Healthcare Corp. Specialty Providers - - -

7/5/2017 Red Oak Recovery LLC Centre Partners Management LLC;

Addiction & Mental Health Services, Inc.


Care

- - -

7/5/2017 Heartland Health (Occupational Medicine Clinic) U.S. HealthWorks, Inc. Specialty Providers - - -

7/5/2017 Country Life Care Center, Inc. Civitas Solutions, Inc. Long Term & Behavioral

Care

9.50 1.06x -

7/4/2017 Cirtec Medical Systems LLC 3i Private Equity; Cirtec Medical

Systems LLC (Private Group)

Medical Devices & Products 136.00 - -

7/3/2017 Renaissance Health Publishing LLC Medical Innovation Holdings, Inc. General Providers 1.00 - -

7/1/2017 New England Institute of Addiction Studies AdCare Educational Institute, Inc. Provider Services - - -


healthcare report q3 2017 · 2 9 39 4 32 19 6 10 13 34 -10 20 30 40 50 strategic 83% financial 17%...

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