TEV/ Date Target Buyer(s) Segment · Financial Buyer Inv. Date Select Corporate Investments 3/22/2017 Procare Physical Therapy, Inc. 3/14/2017 Dermatology Center PC 3/14/2017 Dermatology

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https://www.wsj.com/articles/lawmakers-debate-fate-of-medicaid-1489196578

https://www.usatoday.com/story/news/politics/2017/03/08/republican-health-care-bill-facts/98917660/

http://healthaffairs.org/blog/2017/02/01/a-look-forward-to-health-care-in-2017-top-five-trends/

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Date Target Buyer(s) SegmentAmount

($ in Mil)

TEV/

Rev

TEV/

EBITDA3/14/2017 Air Methods Corp. American Securities LLC Provider Services 2,476.52 2.12x 8.67x

3/3/2017 Essen BioScience, Inc. Sartorius AG Medical Devices &

Products

320.00 - -

2/20/2017 Vention Medical, Inc. (Advanced Technologies

Business)

Nordson Corp. Medical Devices &

Products

705.00 4.70x 14.69x

2/15/2017 Depuy Synthes, Inc. (Codman Neurosurgery Business) Integra LifeSciences Holdings Corp. Medical Devices &

Products

1,045.00 - -

1/31/2017 EP Global Communications, Inc. InWith Corp. Medical Devices &

Products

437.89 NM NM

1/20/2017 Accriva Diagnostics, Inc. Instrumentation Laboratory Co. Specialty Providers 380.00 4.05x -

1/17/2017 Pediatric Services of America, Inc. Bain Capital Investors LLC; Epic Health

Services, Inc.

Specialty Providers 300.00 - -

1/10/2017 Mortara Instrument, Inc. Hill-Rom Holdings, Inc. Medical Devices &

Products

330.00 2.87x -

1/9/2017 Surgical Care Affiliates, Inc. Optum, Inc. Specialty Providers $3,266.47 2.55x 11.45x

Strategic94%

Financial6%

4 4

32

5

41

19 6 5 12

27

-

10

20

30

40

50


Financial Buyer Inv. Date Select Corporate Investments3/22/2017 ▪ Procare Physical Therapy, Inc.3/14/2017 ▪ Dermatology Center PC3/14/2017 ▪ Dermatology Consultants of Albuquerque PC2/15/2017 ▪ Physiohealth, Inc.2/15/2017 ▪ Dynamic Physical Therapy & Aquatic Rehabilitation Center, Inc.

3/21/2017 ▪ Oakland Dermatology Associates PC3/8/2017 ▪ Addus Homecare Corp. (3 Home Centers)1/23/2017 ▪ Dermatology Associates of Colorado1/3/2017 ▪ Castle Dermatology & Laser Center10/4/2016 ▪ Eagle Vision, Inc.▪7/26/2016 ▪ WellTrackONE, LLC5/17/2016 ▪ Noble.MD3/10/2016 ▪ Oncora Medical, Inc.12/22/2015 ▪ CoheroHealth, LLC6/11/2015 ▪ RiboNova Inc.

Innova Memphis Inc 6/17/2016 ▪ Arkis BioSciences Inc.1/5/2016 ▪ Entac Medical LLC9/1/2015 ▪ Life Detection Systems, LLC8/18/2015 ▪ LifeLinks,LLC8/11/2015 ▪ Vital Metrix Inc.

3/1/2016 ▪ Cleveland HeartLab, Inc.3/1/2016 ▪ Minimally Invasive Devices, Inc.2/18/2016 ▪ American Botanicals LLC11/20/2015 ▪ Recursion Pharmaceuticals, LLC10/1/2015 ▪ Genico, Inc.

Audax Private Equity

BioAdvance

Advantage Capital Partners

CI Capital Partners

Strategic Buyer Inv. Date Select Corporate Acquisitions3/23/2017 ▪ Bruce E. Snyder, M.D., PLLC3/13/2017 ▪ Midwest Perinatal Associates, P.A.2/6/2017 ▪ Newborn Intensive Care Specialists P.A.1/30/2017 ▪ Radiology Alliance, P.C1/25/2017 ▪ Western Newborn Specialists, Inc.

3/7/2017 ▪ Imaging Advantage LLC1/6/2017 ▪ Emergency Professional Services PC1/4/2017 ▪ Sunshine Radiology LLC12/13/2016 ▪ Desert Mountain Consultants In Anesthesia, Inc.12/5/2016 ▪ Alabama Neonatal Medicine P.C.

1/17/2017 ▪ Pediatric Services of America, Inc.11/8/2016 ▪ Liberty Healthcare Services, Inc.8/4/2016 ▪ Jed Adam Enterprises, LLC8/1/2016 ▪ Pediatric Special Care, Inc.5/10/2016 ▪ Rehabilitation Associates, PC.

3/31/2017 ▪ East Tennessee Personal Care Service3/1/2017 ▪ Tenet Healthcare Corp. (6 Home Health & Hospice Operations)10/20/2016 ▪ Visiting Nurse Association of Long Island, Inc.8/1/2016 ▪ Professional Profiles, Inc.11/3/2015 ▪ Infinity HomeCare, L.L.C.

10/3/2016 ▪ Fidere Anesthesia Consultants, Inc.9/8/2016 ▪ Ambulatory Anesthesia Associates, Inc. and Genesis Anesthesia Services, Inc.7/5/2016 ▪ AllegiantMD, Inc.7/5/2016 ▪ Resolute Anesthesia and Pain Solutions, LLC And South Lake Anesthesia Services, P.A.5/24/2016 ▪ Jandee Anesthesiology Partners, PLLC and Karadan Anesthesiology and Pain

MEDNAX, Inc.

Envision Healthcare Corp.

Epic Health Services, Inc.

Amedisys, Inc.

Sheridan Healthcare, Inc.


-50%

-40%

-30%

-20%

-10%

0%

10%

20%

30%

40%

50%

Dental Products Dental Providers Medical Devices & Products

Medical Product Distribution Specialty Providers Pharma Services

Practice Management Provider Services Long Term & Behavioral Care

General Providers S&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 24,571$ 122.11$ 18.3% 18.3% 91.7% 3.4% 32.1% 4.6x 14.7x 80.9x 4.4x 11.2x

DENTSPLY SIRONA, Inc. XRAY 14,341 62.44 8.2% 8.2% 94.9% 8.9% 21.8% 4.1x 20.8x 32.2x 3.7x 14.9x

Henry Schein, Inc. HSIC 13,461 169.97 12.0% 12.0% 92.9% 5.5% 8.8% 1.3x 15.5x 27.5x 1.3x 14.6x

Align Technology, Inc. ALGN 9,208 114.71 19.3% 19.3% 99.6% 25.9% 25.8% 7.9x 31.1x 49.2x 6.4x 24.6x

Patterson Cos., Inc. PDCO 4,393 45.23 10.2% 10.2% 89.7% 1.8% 7.4% 1.0x 11.2x 24.9x 0.9x 12.2x

Cantel Medical Corp. CMN 3,342 80.10 1.7% 1.7% 90.2% 14.7% 19.8% 4.8x 26.2x 49.8x 4.2x 20.5x

BIOLASE, Inc. BIOL 91 1.35 -3.6% -3.6% 68.2% 6.7% (27.9%) 1.6x NM NM 1.3x NM

Milestone Scientific, Inc. MLSS 41 1.35 -3.6% -3.6% 42.2% 31.3% (118.6%) 3.6x NM NM 2.4x NM

Pro-Dex, Inc. PDEX 18 4.60 -2.1% -2.1% 68.9% 5.8% 8.8% 0.8x 10.0x 4.6x 0.8x 9.0x

Segment Average $7,719 6.7% 6.7% 82.0% 11.6% (2.5%) 3.3x 18.5x 38.4x 2.8x 15.3xSegment Median $4,393 8.2% 8.2% 90.2% 6.7% 8.8% 3.6x 15.5x 32.2x 2.4x 14.6x

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

Birner Dental Management Services, Inc. BDMS 25$ 13.50$ -15.6% -15.6% 67.9% NM 2.0% 0.6x 15.0x NM NM NM

American Mobile Dental Corp. AMBD 0 0.00 0.0% 0.0% 10.0% NM NM NM NM NM NM NM

Union Dental Holdings, Inc. UDHI 0 0.00 42.9% 42.9% 13.9% NM NM NM NM NM NM NM




($ 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 110,277$ 80.56$ 13.1% 13.1% 90.2% 4.6% 29.6% 4.5x 14.9x 28.5x 4.3x 13.3x

Abbott Laboratories ABT 76,740 44.41 15.6% 15.6% 96.9% 26.9% 24.1% 3.8x 17.4x 47.8x 2.6x 9.1x

Stryker Corp. SYK 49,089 131.65 9.9% 9.9% 98.5% 9.1% 27.7% 4.6x 16.9x 30.3x 4.3x 15.0x

Becton, Dickinson & Co. BDX 39,041 183.44 10.8% 10.8% 98.6% (0.8%) 28.2% 4.0x 14.7x 30.5x 4.1x 13.4x

Boston Scientific Corp. BSX 34,046 24.87 15.0% 15.0% 97.0% 6.4% 24.1% 4.7x 19.1x 99.5x 4.4x 15.3x

Baxter International, Inc. BAX 28,106 51.86 17.0% 17.0% 99.1% 1.3% 18.3% 2.8x 14.8x 5.8x 2.8x 12.1x

Intuitive Surgical, Inc. ISRG 28,149 766.47 20.9% 20.9% 99.5% 12.1% 37.7% 9.5x 24.5x 40.9x 9.1x 21.4x

Zimmer Biomet Holdings, Inc. ZBH 24,571 122.11 18.3% 18.3% 91.7% 3.4% 32.1% 4.6x 14.7x 80.9x 4.4x 11.2x

Edwards Lifesciences Corp. EW 19,989 94.07 0.4% 0.4% 77.3% 12.7% 29.3% 6.6x 21.9x 36.0x 6.0x 18.5x

C.R. Bard, Inc. (New Jersey) BCR 17,973 248.54 10.6% 10.6% 98.5% 6.2% 32.3% 5.0x 15.8x 35.4x 4.9x 14.5x

ABIOMED, Inc. ABMD 5,451 125.20 11.1% 11.1% 94.2% 38.7% 23.9% 12.6x 59.9x 117.0x 9.4x 36.3x

Integra LifeSciences Holdings Corp. IART 3,148 42.13 -1.8% -1.8% 91.8% 16.6% 26.0% 3.7x 15.9x 44.8x 3.4x 15.0x

Wright Medical Group NV WMGI 3,225 31.12 35.4% 35.4% 99.4% 13.8% 1.5% 5.3x NM NM 4.6x 38.9x

Johnson & Johnson JNJ 337,642 124.55 8.1% 8.1% 96.6% 4.9% 31.6% 4.5x 12.9x 21.0x 4.4x 12.2x



($ 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

Danaher Corp. DHR 59,296$ 85.53$ 9.9% 9.9% 83.2% 6.9% 22.6% 4.2x 17.2x 23.4x 3.9x 16.4x

Stryker Corp. SYK 49,089 131.65 9.9% 9.9% 98.5% 9.1% 27.7% 4.6x 16.9x 30.3x 4.3x 15.0x

McKesson Corp. MCK 31,439 148.26 5.6% 5.6% 74.3% 2.0% 2.2% 0.2x 8.4x 16.6x 0.2x 9.9x

Cardinal Health, Inc. CAH 25,725 81.55 13.3% 13.3% 92.8% 7.6% 2.3% 0.2x 9.4x 19.7x 0.2x 8.4x

AmerisourceBergen Corp. ABC 19,229 88.50 13.2% 13.2% 93.7% 10.7% 1.4% 0.1x 10.3x 14.8x 0.1x 9.1x

Henry Schein, Inc. HSIC 13,461 169.97 12.0% 12.0% 92.9% 5.5% 8.8% 1.3x 15.5x 27.5x 1.3x 14.6x

Patterson Cos., Inc. PDCO 4,393 45.23 10.2% 10.2% 89.7% 1.8% 7.4% 1.0x 11.2x 24.9x 0.9x 12.2x

Owens & Minor, Inc. OMI 2,114 34.60 -2.0% -2.0% 83.4% (0.3%) 2.7% 0.3x 9.2x 19.7x 0.3x 9.7x

PharMerica Corp. PMC 720 23.40 -7.0% -7.0% 81.5% 14.9% 6.6% 0.6x 9.2x 33.9x 0.5x 8.4x

Aceto Corp. ACET 476 15.81 -28.0% -28.0% 60.9% 34.6% 10.1% 1.4x 12.8x 22.3x 1.1x 8.0x



($ 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

Fresenius Medical Care AG & Co. KGaA FMS 25,982$ 42.13$ -0.2% -0.2% 88.7% 10.6% 21.0% 2.0x 10.4x 20.8x 1.8x 9.4x

DaVita, Inc. DVA 13,227 67.97 5.9% 5.9% 86.3% 4.7% 16.3% 1.5x 8.9x 15.8x 1.5x 9.2x

MEDNAX, Inc. MD 6,445 69.38 4.1% 4.1% 90.2% 13.3% 20.2% 2.5x 12.0x 19.9x 2.2x 11.1x

Envision Healthcare Corp. AMSG 7,203 61.32 -3.1% -3.1% 73.6% 191.0% 17.7% 3.6x 16.9x NM 0.9x 6.9x

HealthSouth Corp. HLS 3,812 42.81 3.8% 3.8% 98.7% 9.2% 21.8% 1.9x 8.6x 16.5x 1.9x 9.1x

Surgical Care Affiliates, Inc. SCAI NA 55.87 20.7% 20.7% 97.3% 18.4% 26.2% 3.1x 13.8x 65.0x 2.6x 17.7x

American Renal Associates Holdings, Inc. ARA 522 16.88 -20.7% -20.7% 56.9% 7.1% 18.7% 1.7x 7.7x NM 1.6x 11.3x

Adeptus Health, Inc. ADPT 29 1.80 -76.4% -76.4% 2.5% NM NM 0.7x 7.3x NM 0.7x 3.4x

LHC Group, Inc. LHCG 978 53.90 17.9% 17.9% 99.2% 12.2% 9.5% 1.2x 12.9x 26.0x 1.0x 12.4x

AAC Holdings, Inc. AAC 202 8.53 17.8% 17.8% 35.0% 9.2% 5.7% 1.3x 17.9x NM 1.2x 6.8x




($ 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

Universal Health Services, Inc. UHS 11,118$ 124.45$ 17.0% 17.0% 89.0% 19.2% 16.8% 1.7x 9.6x 17.4x 1.4x 9.0x

HCA Holdings, Inc. HCA 32,984 88.99 20.2% 20.2% 97.8% 5.4% 20.6% 1.6x 8.0x 12.2x 1.5x 7.8x

Community Health Systems, Inc. CYH 1,010 8.87 58.7% 58.7% 41.5% (14.1%) 12.3% 0.9x 7.9x NM 1.1x 8.1x

LifePoint Health, Inc. LPNT 2,616 65.50 15.3% 15.3% 86.5% 4.2% 11.8% 0.9x 8.0x 23.2x 0.9x 7.2x

Tenet Healthcare Corp. THC 1,777 17.71 19.3% 19.3% 52.0% 2.1% 11.5% 1.0x 8.6x NM 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 6,212$ 140.21$ 2.3% 2.3% 92.3% 14.5% NM 0.2x NM 25.8x 0.2x 4.8x

HealthEquity, Inc. HQY 2,531 42.45 4.8% 4.8% 86.2% 29.5% 21.0% 13.2x 43.2x 96.5x 10.2x 28.2x

Team Health Holdings, Inc. TMH NA NA NA NA NA NM NM NM NM NM NM NM



($ 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 19,404$ 58.85$ 24.2% 24.2% 87.2% 10.2% 30.3% 4.1x 13.5x 31.8x 3.9x 11.6x

Healthcare Services Group, Inc. HCSG 3,137 43.09 10.0% 10.0% 98.1% 12.0% 8.1% 1.9x 24.2x 41.0x 1.8x 20.6x

HMS Holdings Corp. HMSY 1,699 20.33 11.9% 11.9% 84.7% 12.7% 23.3% 3.5x 15.6x 47.3x 3.2x 12.8x

The Advisory Board Co. ABCO 1,883 46.80 40.8% 40.8% 91.4% 1.2% 22.1% 3.0x 15.3x 21.0x 3.0x 12.0x

Omnicell, Inc. OMCL 1,502 40.65 19.9% 19.9% 98.8% 10.9% 8.3% 2.5x 23.3x NM 2.2x 15.7x

Evolent Health, Inc. EVH 1,172 22.30 50.7% 50.7% 83.1% 76.4% (33.5%) 5.1x NM NM 2.5x NM

Providence Service Corp. PRSC 600 44.44 16.8% 16.8% 83.3% (1.5%) 5.8% 0.4x 8.8x NM 0.4x 10.3x



($ 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 80,517$ 78.50$ -0.5% -0.5% 73.6% 5.4% 8.1% 0.6x 8.2x 16.0x 0.6x 8.5x

Express Scripts Holding Co. ESRX 39,567 65.91 -4.2% -4.2% 82.4% 2.7% 8.1% 0.5x 7.2x 12.2x 0.5x 7.3x

Perrigo Co. Plc PRGO 9,519 66.39 -20.2% -20.2% 49.7% NM NM 2.7x 10.6x NM 3.0x 11.7x

Allscripts Healthcare Solutions, Inc. MDRX 2,289 12.68 24.2% 24.2% 83.6% 12.8% 15.1% 2.5x 16.4x NM 2.3x 11.7x

Magellan Health, Inc. MGLN 1,630 69.05 -8.2% -8.2% 81.5% 24.7% 7.2% 0.3x 6.1x 21.4x 0.3x 4.8x




($ 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

National HealthCare Corp. NHC 1,082$ 71.30$ -5.9% -5.9% 90.3% NM 12.1% 1.1x 10.1x 21.5x NM NM

The Ensign Group, Inc. ENSG 957 18.80 -15.4% -15.4% 78.8% 9.5% 6.6% 0.7x 9.8x 19.6x 0.7x 4.0x

Civitas Solutions, Inc. CIVI 684 18.35 -7.8% -7.8% 79.1% 8.0% 9.5% 0.9x 8.1x 36.0x 0.8x 7.5x

Acadia Healthcare Co., Inc. ACHC 3,829 43.60 31.7% 31.7% 67.1% 4.5% 20.2% 2.5x 12.1x NM 2.4x 10.8x

SunLink Health Systems, Inc. SSY 14 1.55 28.6% 28.6% 81.6% NM 3.5% 0.1x NM NM NM NM

AAC Holdings, Inc. AAC 202 8.53 17.8% 17.8% 35.0% 9.2% 5.7% 1.3x 17.9x NM 1.2x 6.8x








($ in Mil)

TEV/

Rev

TEV/

EBITDA3/31/2017 East Tennessee Personal Care Service Amedisys, Inc. Long Term & Behavioral

Care

- - -

3/31/2017 Tampa Palms Dermatology GTCR LLC; Riverchase Dermatology

& Cosmetic Surgery LLC

Specialty Providers - - -

3/31/2017 Additive Innovations LLC Watershed Idea Foundry, Inc. Medical Devices & Products - - -

3/30/2017 Quorum Health Corp. (Trinity Hospital of Augusta) The Richmond County Hospital

Authority (Georgia)

General Providers - - -

3/29/2017 EveryMove, Inc. BlueCross BlueShield Ventures, Inc.;

higi SH LLC

Long Term & Behavioral

Care

- - -

3/28/2017 NuTech Medical, Inc. Organogenesis, Inc. Medical Product Distribution - - -

3/28/2017 Rhode Island Clinic ADCS Clinics LLC; ADCS Clinics

Intermediate Holdings, LLC


3/27/2017 Harbor Health Plan, Inc. Trusted Health Plan, Inc. General Providers - - -

3/24/2017 Diatech LLC Coltene Holding AG Dental Products - - -

3/23/2017 Bruce E. Snyder, M.D., PLLC MEDNAX, Inc. Specialty Providers - - -

3/22/2017 Hausmann Industries, Inc. Dynatronics Corp. Medical Devices & Products 10.00 0.65x 6.67x

3/22/2017 Procare Physical Therapy, Inc. CI Capital Partners LLC; PT Network

LLC


Care

- - -

3/22/2017 Avalon Malibu New Vista Behavioral Health Long Term & Behavioral

Care

- - -

3/22/2017 New England Mail Order Pharmacy Serve You Rx Vermont LLC Pharma Services - - -

3/22/2017 Hometown Hospice & Homecare, Inc. JPB Capital Partners; Tecum Capital

Management, Inc.; Hometown

Hospice & Homecare, Inc. (Private

Group)


Care

- - -

3/21/2017 Analytical Industries, Inc. Battery Ventures; Process Sensing

Technologies Ltd.

Medical Devices & Products - - -

3/21/2017 Oakland Dermatology Associates PC Audax Private Equity; Harvest

Partners LP; ADCS Clinics LLC


3/20/2017 First Psychiatric Planners, Inc. Kohlberg & Co. LLC; Alita Care Specialty Providers - - -

3/20/2017 Marox Corp. Argosy Private Equity; Sussex Wire,

Inc.


3/17/2017 Human Design Medical LLC Fosun Pharma Industrial Pte Ltd. Medical Devices & Products - - -

3/16/2017 Drs Jaffe O'Neill & Lindgren New MainStream Capital; Anne

Arundel Dermatology Management

LLC


3/15/2017 HealthHelp LLC WNS (Holdings) Ltd. Practice Management 95.00 1.68x -

3/14/2017 Air Methods Corp. American Securities LLC Provider Services 2,476.52 2.12x 8.67x

3/14/2017 Dermatology Center PC CI Capital Partners LLC; Epiphany

Dermatology PA


3/14/2017 Dermatology Consultants of Albuquerque PC CI Capital Partners LLC; Epiphany

Dermatology PA


3/14/2017 Community Health Systems, Inc. ((4) Subs) PinnacleHealth System General Providers - - -

3/13/2017 Midwest Perinatal Associates, P.A. MEDNAX, Inc. Specialty Providers - - -

3/13/2017 Hospice of The Pines LLC Cornerstone Healthcare, Inc. Long Term & Behavioral

Care

- - -

3/13/2017 Air Medical Ltd. Airmed International LLC Provider Services - - -

3/13/2017 National Patient Safety Foundation The Institute for Healthcare

Improvement


3/13/2017 Smile Wide Enterprises LLC Western Dental Services, Inc. Dental Providers - - -

3/13/2017 CarePayment Technologies, Inc. Crestline Investors, Inc.; Cedar

Springs Capital LLC; Carepayment

Technologies, Inc. (Private Group)

Provider Services - - -

3/10/2017 Banyan Medical Partners LLC Patriot Equity LLC (FL) Medical Devices & Products - - -

3/8/2017 BionX Medical Technologies, Inc. Ottobock HealthCare GmbH Medical Devices & Products - - -



($ in Mil)

TEV/

Rev

TEV/

EBITDA3/8/2017 Addus Homecare Corp. (3 Home Centers) Audax Private Equity; Senior Care

Centers of America, Inc.


Care

- - -

3/8/2017 Lower Manhattan Medical Associates PC Clear Clinic & Schweiger

Dermatology Management Co. LLC


3/7/2017 Imaging Advantage LLC Envision Healthcare Corp. Provider Services - - -

3/7/2017 Assurance Health & Wellness Center, Inc. Community Partners, Inc. Specialty Providers - - -

3/6/2017 Comprehensive Pharmacy Svcs, Inc. (340b Smart &

Smartlink Bus)

Wellpartner, Inc. Pharma Services - - -

3/6/2017 Premier Comp Medical Group U.S. HealthWorks, Inc. General Providers - - -

3/6/2017 MedLien Manager LLC (FL) DRB Financial Solutions LLC Provider Services - - -

3/3/2017 Essen BioScience, Inc. Sartorius AG Medical Devices & Products 320.00 - -

3/3/2017 Stringfellow Memorial Hospital The Health Care Authority of The City

of Anniston

General Providers 25.00 - -

3/2/2017 PopHealthcare LLC Guidewell Mutual Holding Corp. Practice Management - - -

3/1/2017 Tenet Healthcare Corp. (6 Home Health & Hospice

Operations)

Amedisys, Inc. General Providers - - -

3/1/2017 VectorVision, Inc. Guardion Health Sciences, Inc. Specialty Providers - - -

3/1/2017 Swede-O, Inc. Core Products International, Inc. Medical Devices & Products - - -

2/28/2017 Totem Lake Family Medicine PLLC The Everett Clinic PS General Providers - - -

2/28/2017 J.T. Posey Co. Golub Capital Partners LLC; TIDI

Products LLC; Roundtable Healthcare

Management, Inc.


2/23/2017 Genesis Healthcare Services, Inc. Hospice Cloud, Inc. Long Term & Behavioral

Care

- - -

2/23/2017 Pathology Associates Medical Laboratories LLC Laboratory Corp. of America

Holdings


2/21/2017 Predixion Software, Inc. (Healthcare IT Practice) Jvion, Inc. Provider Services - - -

2/21/2017 Collier's Pharmacy, Inc. Guardian Pharmacy of Atlanta, LLC Pharma Services - - -

2/20/2017 Rockwell Medical Supply, Inc. Concordance Healthcare Solutions

LLC

Medical Product Distribution - - -

2/20/2017 Vention Medical, Inc. (Advanced Technologies

Business)

Nordson Corp. Medical Devices & Products 705.00 4.70x 14.69x

2/20/2017 Southern Anesthesia & Surgical, Inc. Henry Schein, Inc. Medical Product Distribution - - -

2/20/2017 Vention Medical, Inc. (Device Manufacturing Services

Bus)

JLL Partners, Inc.; MedPlast Tempe,

Inc.; Water Street Healthcare Partners

LLC


2/17/2017 Torax Medical, Inc. Ethicon Suture Laboratories Medical Devices & Products - - -

2/17/2017 Cryo Health USA LLC Gala Global, Inc. Long Term & Behavioral

Care

- - -

2/16/2017 Reproductive Medicine Associates of New Jersey Instituto Valenciano de Infertilidad SL Specialty Providers - - -

2/16/2017 Community Health Systems, Inc. (8 Hospitals) Steward Health Care System LLC General Providers - - -

2/16/2017 Foxbridge Assisted Living & Memory Care

Community

Tiptree, Inc.; Foxbridge Assisted

Living & Memory Care Community ;

Inspirit Senior Living LLC


Care

- - -

2/15/2017 Oxford Grand Mckinney LLC American Senior Housing Reit LLC Long Term & Behavioral

Care

16.50 - -

2/15/2017 Depuy Synthes, Inc. (Codman Neurosurgery Business) Integra LifeSciences Holdings Corp. Medical Devices & Products 1,045.00 - -

2/15/2017 Virginia Beach Dermatology Associates PLLC Integrated Dermatology Group Specialty Providers - - -

2/15/2017 Physiohealth, Inc. CI Capital Partners LLC; PT Network

LLC


Care

- - -

2/15/2017 Dynamic Physical Therapy & Aquatic Rehabilitation

Center, Inc.

CI Capital Partners LLC; PT Network

LLC


Care

- - -

2/14/2017 Middle Peak Medical, Inc. Symetis SA; Truffle Capital SAS Medical Devices & Products - - -

2/13/2017 A+ Dental Corp. Gryphon Investors, Inc.; Smile Brands

Group, Inc.

Dental Providers - - -



($ in Mil)

TEV/

Rev

TEV/

EBITDA2/10/2017 Finesse Solutions, Inc. Thermo Fisher Scientific, Inc. Medical Devices & Products - - -

2/8/2017 International Sight Restoration, Inc. Lions Eye Institute For Transplant &

Research


2/8/2017 Compass Medical, Inc. STERIS Plc Medical Product Distribution 16.00 - -

2/7/2017 Human Arc, Inc. Silversmith Capital Partners; Centauri

Health Solutions, Inc.

Practice Management - - -

2/7/2017 Rad Source Technologies, Inc. Weihai Weigao Equity Investment

Management Co., Ltd.


2/6/2017 Newborn Intensive Care Specialists P.A. MEDNAX, Inc. Specialty Providers - - -

2/6/2017 Frontier Pharmacy LLC Remedi Seniorcare Holding Corp.;

Centerbridge Partners LP

Pharma Services - - -

2/6/2017 Argon Medical Devices, Inc. (Critical Care Business) Merit Medical Systems, Inc. Medical Devices & Products 10.00 - -

2/6/2017 PIPStek LLC Sonendo, Inc. Dental Providers - - -

2/6/2017 Northwest Colorado Dental Coalition, Inc. Northwest Colorado Health Dental Providers - - -

2/6/2017 Catheter Connections, Inc. Merit Medical Systems, Inc. Medical Devices & Products 38.00 - -

2/3/2017 Vatech America, Inc. Value Added Technology Co., Ltd. Dental Products 19.35 - -

2/3/2017 Albany Addiction Associates, Inc. Behavioral Health Group, Inc. Long Term & Behavioral

Care

- - -

2/2/2017 Interamerican Medical Center Group LLC Comvest Partners, Inc.; Athyrium

Capital Management (Private Equity);

Interamerican Medical Center Group

LLC (Private Group)


2/2/2017 NeuroCall, Inc. Warburg Pincus LLC; Specialists On

Call, Inc.


2/1/2017 Towers Park Healthcare, Inc. The Ensign Group, Inc. General Providers - - -

2/1/2017 Douglas Weissman, M. D, P.A Gastro Health LLC Specialty Providers - - -

2/1/2017 Occupational Health Dynamics LLC Schauenburg International GmbH Medical Devices & Products - - -

1/31/2017 C30 Medical Corp., Inc. InTouch Technologies, Inc.; Beringea

LLP


1/31/2017 Mission Regional Medical Center Prime Healthcare Foundation, Inc. General Providers - - -

1/31/2017 ECI Holdings LLC Apax Partners (UK) Ltd.; Genex

Services LLC


1/31/2017 Exactech, Inc. (Spine Products Business) ChoiceSpine LP Medical Devices & Products - - -

1/31/2017 EP Global Communications, Inc. InWith Corp. Medical Devices & Products 437.89 NM NM

1/30/2017 Radiology Alliance, P.C MEDNAX, Inc. Specialty Providers - - -

1/30/2017 Lahey Health System, Inc. Beth Israel Deaconess Medical

Center, Inc.


1/30/2017 Genoptix, Inc. Ampersand Management LLC; 1315

Capital LLC; Genoptix Inc (Private

Group)


1/27/2017 Massachusetts Eye & Ear Infirmary, Inc. Partners HealthCare System, Inc. Specialty Providers - - -

1/25/2017 Western Newborn Specialists, Inc. MEDNAX, Inc. Specialty Providers - - -

1/25/2017 Austin Dermcare Mso PLLC Oliver Street Dermatology Holdings

LLC; ABRY Partners LLC


1/25/2017 Professional Medical Evaluations LP MES Group, Inc. Provider Services - - -

1/24/2017 Maryland Dermatology Associates LLC Anne Arundel Dermatology

Management LLC


1/23/2017 Gray Wolf Ranch Atwell Care Management LLC Long Term & Behavioral

Care

- - -

1/23/2017 Partners In Care Corp. Continuum Health Alliance LLC General Providers - - -

1/23/2017 Dermatology Associates of Colorado Audax Private Equity; Harvest



1/21/2017 Spoon River Optical Progressive Vision Center Ltd. Specialty Providers - - -

1/20/2017 Accriva Diagnostics, Inc. Instrumentation Laboratory Co. Specialty Providers 380.00 4.05x -



($ in Mil)

TEV/

Rev

TEV/

EBITDA1/20/2017 Megadyne Medical Products, Inc. Ethicon Endo-Surgery, Inc. Medical Devices & Products - - -

1/19/2017 Bolton Medical, Inc. Terumo Corp. Medical Devices & Products - - -

1/19/2017 Seamless Medical Systems, Inc. GetWellNetwork, Inc.; Welsh, Carson,

Anderson & Stowe


1/19/2017 Price Choice Pharmacy LLC True Nature Holding, Inc. Pharma Services 1.00 - -

1/19/2017 Encision, Inc. The OR Co. LLC Medical Devices & Products - - -

1/18/2017 Arizona Center For Cancer Care (Gynecological Op) Scottsdale Healthcare Corp. Specialty Providers - - -

1/18/2017 River Valley Care Center, Inc. The Grand Healthcare System Long Term & Behavioral

Care

- - -

1/17/2017 Cano Health LLC Intandem Capital Partners LLC General Providers - - -

1/17/2017 Comfort Health Management LLC Intandem Capital Partners LLC General Providers - - -

1/17/2017 Pediatric Services of America, Inc. Bain Capital Investors LLC; Epic

Health Services, Inc.

Specialty Providers 300.00 - -

1/16/2017 The Service Center LLC Linde North America, Inc. Medical Product Distribution - - -

1/16/2017 Zyto Corp. (Health & Wellness Business) Sunflower Health LLC General Providers - - -

1/16/2017 AppleGate Recovery LLC BayMark Health Services, Inc. Long Term & Behavioral

Care

- - -

1/13/2017 J. Palmero Sales Co. Hu-Friedy Manufacturing Co., LLC Dental Products - - -

1/12/2017 Excel Companion Care, Inc. Help At Home, Inc.; Wellspring

Capital Management LLC


Care

- - -

1/11/2017 Sequel Youth & Family Services LLC Global Partner Acquisition Corp. Long Term & Behavioral

Care

149.60 - -

1/10/2017 Mortara Instrument, Inc. Hill-Rom Holdings, Inc. Medical Devices & Products 330.00 2.87x -

1/10/2017 Mount Sinai Health System, Inc. (Clinical Outreach

Labs Bus)

Laboratory Corp. of America

Holdings


1/10/2017 Derma Sciences, Inc. Integra LifeSciences Holdings Corp. Medical Devices & Products 157.39 2.08x 25.19x

1/10/2017 Inland Empire EHR Resource Center California Integrated Data Exchange Provider Services - - -

1/10/2017 Home Health Investments LLC SV Life Sciences Advisers LLP; Health

Enterprise Partners LLC; Jet Health,

Inc.


Care

- - -

1/10/2017 Millennium Healthcare Management, Inc. Ochsner Health System Practice Management - - -

1/9/2017 Hamilton Vein, Inc. Nobilis Health Corp. Specialty Providers 13.25 - -

1/9/2017 Surgical Care Affiliates, Inc. Optum, Inc. Specialty Providers 3,266.47 2.55x 11.45x

1/9/2017 Affinity Biotech, Inc. (Texas) Diplomat Pharmacy, Inc. Pharma Services 20.00 0.74x 6.67x

1/9/2017 C2 Therapeutics, Inc. PENTAX Corp.; PENTAX of America,

Inc.


1/9/2017 Ridgeview Institute, Inc. US HealthVest LLC Long Term & Behavioral

Care

- - -

1/9/2017 Seabrook International LLC ARCH Global Precision LLC Medical Devices & Products - - -

1/8/2017 Advanced Dermatologic Surgery ABRY Partners LLC; Dermatology

Associates of Tyler


1/8/2017 Dermatology & Laser Center of Fort Worth ABRY Partners LLC; Dermatology

Associates of Tyler


1/8/2017 Bryan L. Townsend, M.D Oliver Street Dermatology Holdings

LLC; ABRY Partners LLC


1/6/2017 Emergency Professional Services PC Envision Healthcare Corp. Specialty Providers - - -

1/5/2017 Prairie Seating Corp. Permobil AB; Permobil, Inc. Medical Devices & Products - - -

1/5/2017 Great Neck Dermatology P.C Clear Clinic & Schweiger

Dermatology Management Co. LLC


1/4/2017 40 J's LLC M Pharmaceutical, Inc. Medical Devices & Products 3.98 - -



($ in Mil)

TEV/

Rev

TEV/

EBITDA1/4/2017 Sunshine Radiology LLC Envision Healthcare Corp. Specialty Providers - - -

1/4/2017 Great Bend Regional Hospital LLC Global Medical REIT LP General Providers 24.50 - -

1/4/2017 Care Advantage, Inc. BelHealth Investment Partners LLC Long Term & Behavioral

Care

- - -

1/4/2017 New York Eye Specialists Vision Group Holdings LLC Specialty Providers - - -

1/4/2017 A&W Healthcare Management LLC Aier (USA) International Holdings, Inc. Practice Management 24.00 - -

1/3/2017 Dr. Fresh LLC Clayton Dubilier & Rice LLC; High

Ridge Brands Co.

Dental Products - - -

1/3/2017 Castlewood Treatment Center LLC Riverside Partners LLC (New York) Long Term & Behavioral

Care

- - -

1/3/2017 The Villa At San Mateo Life Care Services LLC; Elder Care

Alliance


Care

- - -

1/3/2017 Castle Dermatology & Laser Center Audax Private Equity; Harvest



1/3/2017 Rapidscan Pharma Solutions, Inc. GE Healthcare Ltd.; General Electric

Co. (GE Healthcare)


1/1/2017 Regional Gastroenterology Associates of Lancaster

Ltd.

Lancaster Gastroenterology, Inc. Specialty Providers - - -

1/1/2017 Libby Care Center Cascadia Healthcare LLC Long Term & Behavioral

Care

- - -

1/1/2017 Clearwater Health & Rehabilitation Cascadia Healthcare LLC Long Term & Behavioral

Care

- - -

1/1/2017 Pinewood Healthcare LLC Cascadia Healthcare LLC Long Term & Behavioral

Care

- - -

1/1/2017 Missoula Radiology PC Inland Imaging LLC General Providers - - -


Documents

TEV/ Date Target Buyer(s) Segment · Financial Buyer Inv. Date Select Corporate Investments 3/22/2017 Procare Physical Therapy, Inc. 3/14/2017 Dermatology Center PC 3/14/2017 Dermatology