With 374 deals announced in the first quarter, acquisition activity was 25% lower than the 498 transactions announced in the previous quarter. Deal volume was also lower than the same quarter in 2018, down 16% compared with the 447 deals reported then.
Deal volume in all four quarters of 2018 consistently closed above 440 deals, with several being added as they are discovered. While such heavy deal volume seemed to be the “new normal,” the first quarter of 2019 proved to be a reaction to the downward plunge of the equity markets late in the fourth quarter, along with chatter of a global economic slowdown and ongoing confusion over Brexit.
Deal volume in the health care services category, at 242 transactions, was down 25% from the previous quarter. Services deals made up 65% of the quarter’s total, which is on par with the previous quarter, in which the services side accounted for 64%.
