Healthcare Services Sector Update – Autumn 2021 M&A Advisory

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Healthcare Services Sector Update – Autumn 2021

The S&P Healthcare Services Index decreased by 6.7% over the last month, compared to the S&P 500 Index, which decreased 4.8% over the same period.

Over the past month:

  • The sectors that experienced the most growth were Healthcare Staffing (up 3.3%), Care Management/TPA (up 3.3%) and consumer directed health/wellness (up 2.1%).
  • The sectors that experienced the largest decline were Providers – Other (down 21.0%), Telemedicine (down 12.9%) and Home Health/Hospice (down 10.5%).
  • The current average Last Twelve Months (LTM) revenue and LTM EBITDA multiples for the healthcare services industry overall are 3.43x and 14.9x, respectively.
Healthcare Services Sector Update – Autumn 2021 

The sectors with the highest valuation multiples include:

  • Contract Research Organizations (4.81x LTM revenue, 26.4x LTM EBITDA)
  • HCIT (3.98x LTM revenue, 23.8x LTM EBITDA)
  • Assisted/Independent Living (2.01x LTM revenue, 23.5x LTM EBITDA)
  • Behavioral Health (0.46x LTM revenue, 22.3x LTM EBITDA)
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