Health Care Investor and Private Equity Services

Opportunities for both private equity (PE) and corporate buyers and sellers within the health care industry are growing.

A perfect confluence of factors is driving M&A volume in health care - PE firms are raising larger funds and making significant investments, pandemic-era technology is driving deal volume, and health care organizations are seeking to adapt and survive in a challenging environment.

From ambulatory (ancillary) care and physician practices to acute care hospitals and the full range of post-acute care, an increasing number of organizations are seeking acquisitions, divestitures of non-core assets, joint ventures, and alliances.

Our Approach

EisnerAmper blends more than 30 years of health care industry experience as administrative and financial leaders with deep transactional experience in M&A for sponsors and corporate entities. That combination of operational expertise leading health care organizations and the full range of transactional services for investors, buyers and sellers enables us to deliver great value to clients.

Our Services

Investors and corporate buyers and sellers have access to our middle market transaction expertise and health care industry experts. Clients engage us to answer intricate questions about buy-side and sell-side transactions, such as due diligence, valuations, balance-sheet readiness, earnings quality, forensic analysis and distressed company assessments. See our full range of Private Equity Services.

EisnerAmper offers a full range of M&A services to both buy- and sell-side clients. These include due diligence (Quality of Earnings reporting) that integrates performance assessment of acquisition targets or potential sellers. For buy-side clients, we provide deep insight into the strength of the target business’s operational strengths and strategic positioning. In addition, we bring vast project skills in post-acquisition deal implementation and operations’ optimization. For sell-side clients, we identify current value, offer support to improve financial performance pre-deal and evaluation of multiple offers.

Due Diligence

Negotiations Support

M&A Integration

Identifying potential acquisition targets and assessing target strategic and organizational strength and fit.

Fair Market Value analysis and projections for future economics on both transaction and future earnings.

Aligning systems, process flows, and optimizing performance which includes patient flows, expansion, and technology/infrastructure.

Defining performance improvement opportunities before sale and evaluating offers.

Support for negotiations, based on extensive experience with providers as sell-side clients and performance improvement clients.

Focus on financial improvement via revenue cycle management, financial management, and operations controls.

Our Experience

Our team of health care and transactional experts have successfully advised corporate clients as well as investors in all stages of the fund cycle and portfolio investments, including private equity firms, portfolio companies, venture capital, institutional investors, independent sponsors, family offices, buyout firms and mezzanine firms.

From the straightforward to the complex, examples of representative cases include:

Buy-Side

  • Multiple Home Health Agencies: Assisted in combining three distinct agencies into a single entity. Efforts included deal completion, integration/start-up management and creation of a common infrastructure for the newly combined entity.
  • Community Network Development, including Central Business Office (CBO): Structured evaluation and offer development for individual practices for a national hospital, growing the physician network from 10 to 120 practices. In addition, created a new CBO, including core technology (EMR, billings and practice management) and related operating processes.
  • Large Primary Care Physician Practice: Supported an acquisition of a large group using innovative, health care business-based insights to establish a fair value for the practice, enabling a deal to move forward.
  • Clinical Lab: Evaluated the acquisition of a clinical lab focused on specific testing for addiction and drug abuse conditions for a large, national corporation.

Sell-Side

  • Radiation Oncology Center: Evaluated the practice, established range valuation and potential candidates, and facilitated the process of sale.
  • Multi-site, multi-service Behavioral Health Company: Advised this start-up company on operations and strategy during COVID-19, as well as redesigned revenue cycle management to strengthen its balance sheet, resulting in a $10 million deal.
  • Telehealth Start-up: Supported the development of an innovative behavioral health, telehealth-based startup. Translated the business vision to market-based, compliant results that demonstrate projected performance potential and facilitated managed care contracting and private equity investment.
  • Orthodontics Practice: Evaluated multiple financial sponsor proposals for a private practitioner, assisting the owner in assessing the terms and limitations of each offer and guiding toward an ultimate $3 million deal.

Learn more about our Private Equity Services.