Healthcare Report Q4 2017 · Financial Buyer Inv. Date Select Corporate Investments 12/1/2017 CBM Pathology 11/1/2017 CytoPath PC 5/15/2017 Cleveland Skin Pathology Laboratory, Inc

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Strategic90%

Financial10%

1 4

19

5

25

9

13

3

20

27

-

10

20

30

Date Target Buyer(s) SegmentAmount

($ in Mil)

TEV/

Rev

TEV/

EBITDA12/19/2017 Kindred Healthcare, Inc. Humana, Inc.; TPG Capital LLC;

Welsh, Carson, Anderson & Stowe;

Kindred Healthcare, Inc.

Long Term & Behavioral

Care

3,915.94 0.62x 9.43x

12/7/2017 Entellus Medical, Inc. Stryker Corp. Medical Devices & Products 607.65 7.05x -

12/6/2017 Davita Medical Holdings LLC Optum, Inc. Specialty Providers 4,900.00 - -

12/3/2017 Aetna, Inc. CVS Health Corp. Pharma Services 72,053.82 1.17x -

12/1/2017 Paragon Vision Sciences, Inc. CooperVision, Inc. Medical Devices & Products 80.00 5.33x -

11/16/2017 Almost Family, Inc. LHC Group, Inc. Long Term & Behavioral

Care

964.28 1.29x 16.15x

11/15/2017 Leehar Distributors, Inc. Diplomat Pharmacy, Inc. Pharma Services 595.55 - -

11/1/2017 Halyard Health, Inc. (Surgical & Infection Prevention

Bus)

Owens & Minor, Inc. Medical Devices & Products 710.00 - -

10/23/2017 U.S. HealthWorks, Inc. Concentra, Inc.; Welsh, Carson,

Anderson & Stowe; Cressey & Co. LP

General Providers 753.00 - -

10/23/2017 Exactech, Inc. TPG Capital LLC; TPG Capital

Advisors LLC

Medical Devices & Products 712.14 2.69x 16.49x

10/10/2017 eviCore Express Scripts Holding Co. Provider Services 3,600.00 - -


Financial Buyer Inv. Date Select Corporate Investments12/1/2017 ▪ CBM Pathology11/1/2017 ▪ CytoPath PC5/15/2017 ▪ Cleveland Skin Pathology Laboratory, Inc.10/7/2016 ▪ The ALARIS Group, Inc.1/11/2016 ▪ Healthline Networks, Inc.▪11/22/2017 ▪ North Valley Dermatology11/21/2017 ▪ Center for Advanced Dermatology10/16/2017 ▪ Medical Center Dermatology, PA10/16/2017 ▪ Lakeway Dermatology & Skin Cancer Center PA1/25/2017 ▪ Austin Dermcare Mso PLLC

Silver Oak Services Partners 11/14/2017 ▪ Caring People, 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

11/13/2017 ▪ R. Todd Plott, M.D., P.A.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 PC

10/25/2017 ▪ New Beginnings Minnesota LLC10/23/2017 ▪ Rhein Medical, Inc.3/21/2017 ▪ Oakland Dermatology Associates PC3/8/2017 ▪ Addus Homecare Corp. (3 Home Centers)1/23/2017 ▪ Dermatology Associates of Colorado

Summit Partners

ABRY Partners

Audax Private Equity

CI Capital Partners

Strategic Buyer Inv. Date Select Corporate Acquisitions11/28/2017 ▪ Northwest Physicians Network of Washington LLC7/13/2017 ▪ Park Avenue Medical, Inc.7/13/2017 ▪ Winter Park Health Center, Inc.5/8/2017 ▪ Purity Dialysis Centers, Inc.6/8/2016 ▪ Inspira Dialysis Centers Located in Vineland, Millville and Bridgeton

11/15/2017 ▪ Right Dose Pharmacy10/31/2017 ▪ M.R. Pharmacy LLC2/21/2017 ▪ Collier's Pharmacy, Inc.6/2/2015 ▪ Preferred Care Pharmaceutical Services, Inc.

10/30/2017 ▪ California Laboratory Associates10/18/2017 ▪ Cleveland HeartLab, Inc.9/28/2017 ▪ Shiel Medical Laboratory, Inc.6/12/2017 ▪ Med Fusion LLC6/12/2017 ▪ ClearPoint Diagnostic Laboratories LLC

10/18/2017 ▪ Synergy Radiology Associates, PA10/2/2017 ▪ Palm Beach Pediatric Urology P.A9/28/2017 ▪ Jefferson Radiology PC / Jefferson Imaging Associates LLC8/23/2017 ▪ Radiology Associates of South Florida PA6/20/2017 ▪ Greater Nashville Perinatology Plc

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

DaVita

Guardian Pharmacy

MEDNAX

CRH Medical Corp.

Quest Diagnostics


-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 24,432$ 120.67$ 3.1% 16.9% 90.4% 2.2% 35.8% 4.4x 12.7x 37.7x 4.4x 11.8x

Align Technology, Inc. ALGN 17,815 222.19 19.3% 131.1% 83.4% 32.8% 28.2% 12.7x 49.5x NM 9.8x NM

DENTSPLY SIRONA, Inc. XRAY 15,120 65.83 10.1% 14.0% 95.4% 6.6% 20.9% 4.2x 20.6x (19.0x) 4.0x 17.1x

Henry Schein, Inc. HSIC 10,968 69.88 -14.8% -7.9% 74.7% 7.5% 8.3% 1.1x 12.8x 20.1x 1.0x 11.8x

Cantel Medical Corp. CMN 4,301 102.87 9.2% 30.6% 95.3% 15.9% 18.7% 5.6x 29.8x 56.8x 4.8x 23.3x

Patterson Cos., Inc. PDCO 3,426 36.13 -6.5% -11.9% 74.8% 0.5% 6.7% 0.8x 9.2x 21.6x 0.8x 10.9x

Milestone Scientific, Inc. MLSS 39 1.18 -5.5% -15.6% 65.6% 19.5% (43.8%) 3.5x NM (7.4x) 3.0x NM

BIOLASE, Inc. BIOL 32 0.43 -29.3% -69.5% 22.8% 9.0% (41.2%) 0.6x NM (1.4x) 0.5x (2.8x)

Pro-Dex, Inc. PDEX 30 6.80 -6.2% 44.7% 85.0% 8.5% 19.7% 1.0x 5.9x 5.3x 0.9x 9.4x

Birner Dental Management Services, Inc. BDMS 13 6.75 22.7% -57.8% 39.0% NM 1.0% 0.4x 26.0x (5.7x) NM NM

Segment Average $7,618 0.2% 7.5% 72.6% 11.4% 5.4% 3.4x 20.8x 12.0x 3.2x 11.7xSegment Median $3,863 (1.2%) 3.1% 79.1% 8.5% 13.5% 2.3x 16.7x 5.3x 3.0x 11.8x

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

Johnson & Johnson JNJ 375,361$ 139.72$ 7.5% 21.3% 96.8% 8.4% 33.6% 5.3x 15.3x 24.3x 5.0x 13.5x

Medtronic Plc MDT 109,295 80.75 3.8% 13.4% 90.0% 1.5% 30.9% 4.2x 13.3x 22.2x 4.2x 12.8x

Abbott Laboratories ABT 99,336 57.07 7.0% 48.6% 98.8% 20.0% 24.3% 4.5x 23.6x 44.8x 3.7x 14.2x

Stryker Corp. SYK 57,947 154.84 9.0% 29.2% 96.4% 9.3% 26.5% 5.2x 18.9x 33.1x 4.8x 16.8x

Becton, Dickinson & Co. BDX 49,107 214.06 9.2% 29.3% 93.2% 15.5% 26.7% 4.4x 16.1x 46.5x 3.2x 9.6x

Intuitive Surgical, Inc. ISRG 40,891 364.94 4.7% 72.6% 90.1% 15.0% 38.7% 13.0x 34.9x 47.1x 11.8x 26.2x

Baxter International, Inc. BAX 35,218 64.64 3.0% 45.8% 97.7% 6.1% 19.7% 3.4x 16.7x 34.5x 3.2x 13.5x

Boston Scientific Corp. BSX 34,042 24.79 -15.0% 14.6% 82.8% 8.4% 26.4% 4.4x 17.5x 40.6x 4.1x 14.3x

Zimmer Biomet Holdings, Inc. ZBH 24,432 120.67 3.1% 16.9% 90.4% 2.2% 35.8% 4.4x 12.7x 37.7x 4.4x 11.8x

Edwards Lifesciences Corp. EW 23,852 112.71 3.1% 20.3% 92.8% 12.3% 29.1% 7.1x 22.0x 32.9x 6.4x 19.3x

ABIOMED, Inc. ABMD 8,287 187.41 11.2% 66.3% 93.6% 37.2% 26.4% 15.9x NM NM 12.0x NM

Integra LifeSciences Holdings Corp. IART 3,756 47.86 -5.2% 11.6% 84.8% 37.4% 22.5% 4.1x 18.0x NM 3.0x 13.0x

Wright Medical Group NV WMGI 2,346 22.20 -14.2% -3.4% 70.4% 12.5% 2.2% 4.1x 45.1x NM 3.6x 25.0x



($ 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

Danaher Corp. DHR 64,566$ 92.82$ 8.2% 19.2% 97.5% 7.3% 23.8% 4.2x 17.2x 27.4x 4.0x 16.4x

Stryker Corp. SYK 57,947 154.84 9.0% 29.2% 96.4% 9.3% 26.5% 5.2x 18.9x 33.1x 4.8x 16.8x

McKesson Corp. MCK 32,512 155.95 1.5% 11.0% 92.1% 3.5% 2.0% 0.2x 9.8x 7.6x 0.2x 9.1x

AmerisourceBergen Corp. ABC 20,024 91.82 11.0% 17.4% 93.8% 10.3% 1.6% 0.1x 8.8x NM 0.1x 8.9x

Cardinal Health, Inc. CAH 19,276 61.27 -8.4% -14.9% 72.2% 5.9% 2.2% 0.2x 8.9x 17.9x 0.2x 8.5x

Henry Schein, Inc. HSIC 10,968 69.88 -14.8% -7.9% 74.7% 7.5% 8.3% 1.1x 12.8x 20.1x 1.0x 11.8x

Patterson Cos., Inc. PDCO 3,426 36.13 -6.5% -11.9% 74.8% 0.5% 6.7% 0.8x 9.2x 21.6x 0.8x 10.9x

Owens & Minor, Inc. OMI 1,156 18.88 -35.3% -46.5% 51.0% 10.3% 2.6% 0.2x 7.8x 15.0x 0.2x 6.5x

Aceto Corp. ACET 311 10.33 -8.0% -53.0% 46.1% 7.8% 3.9% 0.8x 9.8x 49.2x 0.8x 12.1x



($ 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 32,470$ 52.55$ 7.5% 24.5% 99.2% 15.7% 17.8% 2.0x 11.4x 23.6x 1.9x 10.1x

DaVita, Inc. DVA 13,243 72.25 21.7% 12.5% 99.1% 6.1% 15.3% 1.5x 9.3x 27.1x 1.4x 9.8x

MEDNAX, Inc. MD 5,005 53.44 23.9% -19.8% 74.1% 8.1% 17.4% 2.0x 11.3x 19.0x 1.8x 10.9x

Encompass Health Corp. HLS 4,878 49.41 6.6% 19.8% 98.0% 8.8% 21.4% 2.0x 9.5x 17.8x 1.9x 9.1x

Envision Healthcare Corp. AMSG 4,181 34.56 -23.1% -45.4% 47.3% 14.7% 13.5% 1.5x 10.4x (6.2x) 1.3x 11.9x

LHC Group, Inc. LHCG 1,120 61.25 -13.6% 34.0% 80.4% 17.7% 9.0% 1.3x 13.8x 26.4x 1.1x 12.1x

American Renal Associates Holdings, Inc. ARA 547 17.40 16.2% -18.2% 74.7% 9.7% 24.4% 1.8x 8.8x NM 1.7x 12.0x

AAC Holdings, Inc. AAC 217 9.00 -9.4% 24.3% 68.9% 12.1% 12.8% 1.4x 13.0x NM 1.2x 6.2x




($ 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

HCA Healthcare, Inc. HCA 31,100$ 87.84$ 10.4% 18.7% 96.5% 6.1% 16.5% 1.5x 8.1x 12.5x 1.5x 7.9x

Universal Health Services, Inc. UHS 9,936 113.35 2.2% 6.6% 87.4% 16.0% 14.5% 1.4x 8.8x 15.6x 1.3x 8.4x

LifePoint Health, Inc. LPNT 1,963 49.80 -14.0% -12.3% 70.2% 1.3% 11.1% 0.8x 6.5x 11.9x 0.8x 6.3x

Tenet Healthcare Corp. THC 1,530 15.16 -7.7% 2.2% 66.7% (4.5%) 10.1% 1.0x 9.2x (2.7x) 1.0x 7.4x

Community Health Systems, Inc. CYH 489 4.26 -44.5% -23.8% 40.5% (16.4%) 9.0% 0.9x 8.0x (0.7x) 1.0x 9.0x



($ 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

WellCare Health Plans, Inc. WCG 8,954$ 201.11$ 17.1% 46.7% 94.0% 16.8% NM 0.3x NM 25.2x 0.3x 5.6x

HealthEquity, Inc. HQY 2,831 46.66 -7.8% 15.2% 84.4% 27.0% 30.9% 12.1x 38.9x 63.1x 9.7x 25.7x



($ 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 22,401$ 67.39$ -5.5% 42.3% 91.2% 9.6% 30.9% 4.3x 14.2x 33.5x 4.0x 12.2x

Healthcare Services Group, Inc. HCSG 3,863 52.72 -2.3% 34.6% 94.7% 17.7% 6.8% 2.2x 28.7x 44.3x 1.9x 22.8x

HMS Holdings Corp. HMSY 1,425 16.95 -14.7% -6.7% 81.1% 12.9% 22.8% 3.2x 15.0x 62.8x 2.9x 11.6x

Omnicell, Inc. OMCL 1,840 48.50 -5.0% 43.1% 87.5% 16.9% 11.9% 2.9x 42.9x NM 2.6x 14.8x

Evolent Health, Inc. EVH 918 12.30 -30.9% -16.9% 44.7% 41.8% (3.7%) 1.9x NM NM 1.3x 36.4x

Providence Service Corp. PRSC 790 59.34 9.7% 56.0% 97.4% 5.4% 3.2% 0.5x 14.4x NM 0.5x 11.3x



($ 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

CVS Health Corp. CVS 73,442$ 72.50$ -10.8% -8.1% 85.6% 5.2% 6.8% 0.5x 7.8x 15.0x 0.5x 7.4x

Express Scripts Holding Co. ESRX 42,274 74.64 17.9% 8.5% 98.7% 1.4% 7.8% 0.5x 7.4x 12.4x 0.5x 7.2x

Perrigo Co. Plc PRGO 12,276 87.16 3.0% 4.7% 95.0% 0.1% 22.8% 3.0x 14.1x NM 3.1x 13.2x

Allscripts Healthcare Solutions, Inc. MDRX 2,629 14.55 2.2% 42.5% 95.7% 24.8% 17.5% 2.6x 16.0x NM 2.1x 10.1x

Magellan Health, Inc. MGLN 2,321 96.55 11.9% 28.3% 96.7% 40.2% 5.5% 0.4x 8.3x 25.6x 0.3x 5.4x




($ 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

Acadia Healthcare Co., Inc. ACHC 2,866$ 32.63$ -31.7% -1.4% 60.0% 6.9% 20.7% 2.2x 10.5x NM 2.0x 9.4x

The Ensign Group, Inc. ENSG 1,136 22.20 -1.7% 0.0% 89.6% 8.4% 7.8% 0.8x 10.6x 24.4x 0.7x 7.4x

National HealthCare Corp. NHC 926 60.94 -2.6% -19.6% 79.1% NM 9.1% 0.9x 8.2x 19.1x NM NM

Civitas Solutions, Inc. CIVI 640 17.10 -7.3% -14.1% 83.2% 8.6% 10.4% 0.9x 8.6x 100.6x 0.8x 7.2x

AAC Holdings, Inc. AAC 217 9.00 -9.4% 24.3% 68.9% 12.1% 12.8% 1.4x 13.0x NM 1.2x 6.2x

SunLink Health Systems, Inc. SSY 15 1.59 6.0% 31.9% 76.4% NM 2.5% 0.2x NM (21.9x) NM NM








($ in Mil)

TEV/

Rev

TEV/

EBITDA12/27/2017 Solulink, Inc. GTCR LLC; Maravai Life Sciences, Inc. Medical Devices & Products - - -

12/21/2017 Unique Options LLC Civitas Solutions, Inc. Long Term & Behavioral

Care

- - -

12/20/2017 Medical Simulation Corp. (Endovascular Business) Mentice AB; Priveq Partners Holding AB Medical Devices & Products - - -

12/19/2017 Kindred Healthcare, Inc. Humana, Inc.; TPG Capital LLC; Welsh,

Carson, Anderson & Stowe; Kindred

Healthcare, Inc.


Care

3,915.94 0.62x 9.43x

12/19/2017 Sports & Orthopedic Leaders, Inc. GPB Capital Holdings LLC; Alliance

Physical Therapy Partners LLC


Care

- - -

12/13/2017 Connect Healthcare Spring Mountain Capital LP; StartUp

Health LLC; Colle Capital Partners;

Health Platforms, Inc.

Pharma Services - - -

12/12/2017 Care Solutions of Tidewater LLC BelHealth Investment Partners LLC; Care

Advantage, Inc.


Care

- - -

12/12/2017 Arlene E. Haywood M.D. P.A. MBF Healthcare Advisors LLC; Strategic

Health Services LLC

Specialty Providers - - -

12/12/2017 Jesus B. Menendez-Rivera M.D. P.A. MBF Healthcare Advisors LLC; Strategic

Health Services LLC

General Providers - - -

12/12/2017 Safe Passage Neuromonitoring LLC NuVasive, Inc. Provider Services - - -

12/12/2017 Dextera Surgical, Inc. Sartorius BBI Systems GmbH; Aesculap,

Inc.

Medical Devices & Products 16.57 - -

12/8/2017 Emmaus Life Sciences, Inc. Telcon, Inc. Long Term & Behavioral

Care

271.13 - -

12/7/2017 Entellus Medical, Inc. Stryker Corp. Medical Devices & Products 607.65 7.05x -

12/7/2017 Restorative Health Care - Corpus Christi, Inc. Noor, Inc. Long Term & Behavioral

Care

- - -

12/6/2017 Davita Medical Holdings LLC Optum, Inc. Specialty Providers 4,900.00 - -

12/6/2017 Harpoon Medical, Inc. Edwards Lifesciences Corp. Medical Devices & Products 250.00 - -

12/5/2017 Imthera Medical, Inc. LivaNova Plc Medical Devices & Products 225.00 - -

12/5/2017 Bayfront Health Dade City Adventist Health System Sunbelt

Healthcare Corp.

General Providers - - -

12/5/2017 Rey Medical & Wellness Centers LLC Cano Health LLC Specialty Providers - - -

12/4/2017 Reproductive Medicine Associates of Philadelphia PC Instituto Valenciano de Infertilidad SL Specialty Providers - - -

12/4/2017 Aurora Health Care, Inc. Advocate Health Care Network General Providers - - -

12/4/2017 Aspen Community Living Dungarvin, Inc.; Dungarvin Ohio, LLC Long Term & Behavioral

Care

- - -

12/4/2017 Dickinson County Healthcare System Bellin Health Systems, Inc. General Providers - - -

12/4/2017 iCardiac Technologies, Inc. eResearchTechnology, Inc. Pharma Services - - -

12/3/2017 Aetna, Inc. CVS Health Corp. Pharma Services 72,053.82 1.17x -

12/1/2017 Paragon Vision Sciences, Inc. CooperVision, Inc. Medical Devices & Products 80.00 5.33x -

12/1/2017 CBM Pathology Summit Partners LP; KRG Capital LLC;

Aurora Diagnostics Holdings LLC

Provider Services - - -

11/30/2017 Bristol Hospice LLC Webster Capital Ltd. Long Term & Behavioral

Care

70.00 - -

11/29/2017 Medicines Co. (Infectious Disease Business Unit) Melinta Therapeutics, Inc. Pharma Services 270.00 - -

11/28/2017 Vigilare International, Inc. WIRB-Copernicus Group, Inc. Pharma Services - - -

11/28/2017 ClearChoice Holdings LLC Sun Capital Partners, Inc. Dental Providers - - -

11/28/2017 American Indian Health Services LLC Alliant Specialty Insurance Services, Inc. Practice Management - - -

11/28/2017 Northwest Physicians Network of Washington LLC DaVita Medical Group (Colarado) Practice Management - - -

11/27/2017 MGC Diagnostics Corp. Altus Capital Partners, Inc. Medical Devices & Products 42.26 1.04x 24.98x

11/22/2017 Interleukin Genetics, Inc. (CLIA Laboratory) Harris & Harris Group; Hatteras Venture

Partners; Orig3n, Inc.

Pharma Services - - -



($ in Mil)

TEV/

Rev

TEV/

EBITDA11/22/2017 Community Partners, Inc. Spurwink Services Long Term & Behavioral

Care

- - -

11/22/2017 North Valley Dermatology ABRY Partners LLC; US Dermatology

Partners


11/21/2017 Center for Advanced Dermatology ABRY Partners LLC; US Dermatology

Partners


11/21/2017 BC Technical, Inc. Robert W. Baird & Co., Inc. (Private

Equity); Alpha Source, Inc.

Medical Devices & Products - - -

11/21/2017 Walker Surgical Center LLC MSO Great Lakes, Inc.; Sterling Partners Specialty Providers - - -

11/17/2017 A Place To Call Home, Inc. Res-Care, Inc. Long Term & Behavioral

Care

- - -

11/17/2017 Home Medical Professionals, Inc. Transition Capital Partners Ltd.; Hospice

Source LLC

Medical Product Distribution - - -

11/16/2017 Elite Surgical Affiliates Nobilis Health Corp. Specialty Providers 119.96 - -

11/16/2017 Almost Family, Inc. LHC Group, Inc. Long Term & Behavioral

Care

964.28 1.29x 16.15x

11/15/2017 MDVIP, Inc. Leonard Green & Partners LP Practice Management - - -

11/15/2017 Ethoswell LLC SimplaFYI LLC Specialty Providers - - -

11/15/2017 Hayes, Inc. Arsenal Capital Management LP;

TractManager, Inc.


11/15/2017 Uspiritus Centerstone of Kentucky, Inc. Long Term & Behavioral

Care

- - -

11/15/2017 Leehar Distributors, Inc. Diplomat Pharmacy, Inc. Pharma Services 595.55 - -

11/15/2017 Right Dose Pharmacy Guardian Pharmacy Services Pharma Services - - -

11/14/2017 Caring People, Inc. Silver Oak Services Partners LLC; Caring

People, Inc.


Care

- - -

11/14/2017 Arcadian TelePsychiatry LLC MYnd Analytics, Inc. Long Term & Behavioral

Care

- - -

11/14/2017 Saline Physical Therapy of Michigan Ltd. ProEx Physical Therapy Long Term & Behavioral

Care

- - -

11/13/2017 R. Todd Plott, M.D., P.A. CI Capital Partners LLC; Epiphany

Dermatology PA


11/13/2017 The Pediatric Connection, Inc. Thrive Skilled Pediatric Care LLC Long Term & Behavioral

Care

- - -

11/9/2017 CPM Medical Consultants LLC Fuse Medical, Inc. Medical Product Distribution 126.25 - -

11/7/2017 Medical Imaging LLC MedQuest Associates, Inc. Provider Services - - -

11/7/2017 Excell Home Care & Hospice, Inc. Cornerstone Healthcare, Inc. Long Term & Behavioral

Care

- - -

11/6/2017 Pharmaceutical Technologies, Inc. Diplomat Pharmacy, Inc. Pharma Services 47.00 - -

11/6/2017 MDDX LLC BioClinica, Inc.; Cinven Group Ltd. Provider Services - - -

11/3/2017 Academy Dermatologists Group LLC Epiphany Dermatology PA Specialty Providers - - -

11/3/2017 Vista Clinical Diagnostics, Inc. (Retail Business) Laboratory Corp. of America Holdings Provider Services - - -

11/2/2017 Access Dental Plan LLC DentaQuest, Inc. Dental Providers - - -

11/1/2017 Halyard Health, Inc. (Surgical & Infection Prevention

Business)

Owens & Minor, Inc. Medical Devices & Products 710.00 - -

11/1/2017 Health Check, Inc. Revint Solutions Provider Services - - -

11/1/2017 CytoPath PC Summit Partners LP; KRG Capital LLC;

Aurora Diagnostics Holdings LLC


11/1/2017 Centurion Medical Products Corp. Medline Industries, Inc. Medical Devices & Products - - -

11/1/2017 Howsden Dermatology P.A. Sterling Fund Management LLC;

Platinum Dermatology Partners LLC


11/1/2017 Emergency Response & Training Solutions, Inc. Gryphon Investors, Inc.; HEPACO, Inc. Specialty Providers - - -

11/1/2017 South Path PC University Health Care System Provider Services - - -

11/1/2017 Englewood Eyecare Vision Care Specialists, Inc. Specialty Providers - - -

11/1/2017 MedAccess Urgent Care PLLC DLP Person Memorial Hospital LLC General Providers - - -



($ in Mil)

TEV/

Rev

TEV/

EBITDA10/31/2017 Newcourtland Senior Services (Senior Care Business) Total Community Options, Inc. Long Term & Behavioral

Care

- - -

10/31/2017 Hamburg Counseling Service, Inc. Community Concern of Western New

York, Inc.


Care

- - -

10/31/2017 M.R. Pharmacy LLC Guardian Pharmacy LLC Pharma Services - - -

10/30/2017 Cardiostaff Corp. G Medical Innovations USA, Inc. Provider Services 4.22 - -

10/30/2017 California Laboratory Associates Quest Diagnostics, Inc. Provider Services - - -

10/30/2017 Workforce Health (South Bend Clinic) U.S. HealthWorks, Inc. Specialty Providers - - -

10/30/2017 Vivere Health LLC Prelude Fertility, Inc.; Lee Equity

Partners


10/30/2017 Young Innovations, Inc. The Jordan Co. LP; Young Innovations,

Inc.

Dental Products - - -

10/30/2017 South Shore Hand Therapy (Occupational Therapy

PLLC); JointCare Physical Therapy

Thomas H. Lee Partners LP; Professional

Orthopedic & Sports Physical Therapy

PC


Care

- - -

10/27/2017 Innomed Technologies, Inc. and Respcare, Inc. Salter Labs Corp. Medical Devices & Products - - -

10/27/2017 New Life Genetics LifeQuest World Corp. Provider Services - - -

10/26/2017 CORE Clinical, Inc. Invicro LLC Provider Services - - -

10/26/2017 Health Integrated, Inc. ExlService Holdings, Inc. Provider Services - - -

10/25/2017 New Beginnings Minnesota LLC Audax Private Equity; Meridian

Behavioral Health LLC


Care

- - -

10/25/2017 Mentis Neuro Rehabilitation LLC Civitas Solutions, Inc. Long Term & Behavioral

Care

- - -

10/24/2017 America's 1st Choice Anthem, Inc. Pharma Services - - -

10/24/2017 Taos Dental Group LLC MB2 Dental Solutions PLLC Dental Providers - - -

10/24/2017 Alan K Montgomery, OD, PLC Southwest Vision Center, Inc. Specialty Providers - - -

10/23/2017 Exactech, Inc. TPG Capital LLC; TPG Capital Advisors

LLC

Medical Devices & Products 712.14 2.69x 16.49x

10/23/2017 U.S. HealthWorks, Inc. Concentra, Inc.; Welsh, Carson,

Anderson & Stowe; Cressey & Co. LP

General Providers 753.00 - -

10/23/2017 Chagrin Safety Supply, Inc. Innovest Global, Inc. Medical Product Distribution - - -

10/23/2017 Specialized Medical Services, Inc. Transition Capital Partners Ltd.; Hospice

Source LLC

Medical Product Distribution - - -

10/23/2017 Rotation Medical, Inc. Smith & Nephew Plc Medical Devices & Products 210.00 - -

10/23/2017 Rhein Medical, Inc. Audax Private Equity; Katena Products,

Inc.

Medical Devices & Products - - -

10/23/2017 LP Health Services LLC Matrix Medical Network of Arizona LLC Provider Services - - -

10/18/2017 Clinical Innovations LLC EQT Partners AB Medical Devices & Products 250.00 - -

10/18/2017 Synergy Radiology Associates, PA MEDNAX, Inc. Specialty Providers - - -

10/18/2017 Cleveland HeartLab, Inc. Quest Diagnostics, Inc. Provider Services 94.00 - -

10/16/2017 Autism Home Support Services, Inc. The Jordan Co. LP; The Wicks Group of

Cos. LLC; Post Capital Partners LLC;

Invo HealthCare Associates, Inc.


Care

- - -

10/16/2017 Medical Center Dermatology, PA ABRY Partners LLC; US Dermatology

Partners


10/16/2017 Lakeway Dermatology & Skin Cancer Center PA ABRY Partners LLC; US Dermatology

Partners; Oliver Street Dermatology

Holdings LLC


10/16/2017 DxT Medical LLC Mobile Science Technologies, Inc. Medical Product Distribution 0.46 - -

10/11/2017 VHS of Illinois, Inc. Loyola University Health System General Providers - - -

10/11/2017 Summit Healthcare Management LLC FFL Partners LLC; Lee Equity Partners

LLC; Summit Healthcare Management

LLC


Care

- - -

10/10/2017 eviCore Express Scripts Holding Co. Provider Services 3,600.00 - -

10/10/2017 Carena, Inc. Avizia, Inc.; Healthquest Capital

Management CO. LLC; Northwell

Ventures




($ in Mil)

TEV/

Rev

TEV/

EBITDA10/10/2017 Delphi Behavioral Health Group LLC The Halifax Group LLC Long Term & Behavioral

Care

- - -

10/9/2017 Saratoga Hair Transplant Center Williams Center Plastic Surgery

Specialists


10/6/2017 Pharmacogenetics Diagnostic Laboratory LLC Spencer Trask Ventures, Inc.; Prescient

Medical, Inc.


10/6/2017 Elite Medical Scribes LLC HealthChannels, Inc. Pharma Services - - -

10/6/2017 South Palm Ambulatory Surgery Center LLC Baptist Health South Florida, Inc. General Providers - - -

10/6/2017 Women's Care Florida LLC Lindsay Goldberg & Co. LLC Specialty Providers - - -

10/5/2017 Roxwood Medical, Inc. BTG Plc Medical Devices & Products 80.00 - -

10/5/2017 Albensi Dental Laboratory, Inc. National Dentex Corp.; Affinity Capital

Management; Welsh, Carson, Anderson

& Stowe

Dental Providers - - -

10/4/2017 Crystal Bioscience, Inc. Ligand Pharmaceuticals, Inc. Pharma Services 35.50 - -

10/4/2017 Conduent, Inc. (Health Care Business) ATOS SE Provider Services - - -

10/4/2017 Pain Specialists of Austin (Nonclinical Assets) CommonView Capital LLC; Pain

Specialists of America LLC


10/4/2017 Little Company of Mary Hospital & Health Care

Centers

Rush System for Health General Providers - - -

10/4/2017 Central Texas Pain Center North, PLCC (Nonclinical

Assets)

CommonView Capital LLC; Pain

Specialists of America LLC


10/3/2017 The Pat Moore Foundation D'Amore Health Care, Inc. Long Term & Behavioral

Care

- - -

10/2/2017 Palm Beach Pediatric Urology P.A MEDNAX, Inc. Specialty Providers - - -

10/2/2017 Apama Medical, Inc. Boston Scientific Corp. Medical Devices & Products 300.00 - -

10/2/2017 DRT Medical LLC NN, Inc. Medical Devices & Products 38.60 - -

10/1/2017 Powell Life Skills, Inc. Civitas Solutions, Inc. Long Term & Behavioral

Care

1.60 - -


Documents

Healthcare Report Q4 2017 · Financial Buyer Inv. Date Select Corporate Investments 12/1/2017 CBM Pathology 11/1/2017 CytoPath PC 5/15/2017 Cleveland Skin Pathology Laboratory, Inc