GLOSSARY: Key Financial Terms of Private Equity Transactions
Explanations provided by industry experts Glossary of Terms Defined: EBITDA Enterprise Value Income Repair Multiple Scrape percentage Second bite and rollover equity Triple net lease (NNN lease) Quality of earnings (QofE) Value Based Enterprise Value Based Care (VBC) EBITDA EBITDA is an acronym that stands for “earnings before interest, tax, depreciation, and amortization”. EBITDA, therefore, represents the financial results of a company’s activities, with interest costs and interest earned as well as all depreciation being excluded. EBITDA is typically utilized as a financial metric to compare the underlying profitability of a company regardless of its depreciation assumptions and/or... Read More »
A Growing Trend: Health Systems Collaborating with Private Equity
Are traditional health systems and private equity-backed groups natural competitors? Maybe not. Levin Associates’ proprietary deal database, which tracks mergers and acquisitions in real time, shows the fast pace at which both sides have been consolidating the medical marketplace over the past decade. The data also shows a new trend taking hold: Rather than competing against each other, health systems and PE firms are forming partnerships. Many experts in the healthcare industry anticipate this trend is here to stay. Levin Associates attended AHLA’s Health Care Transactions Conference on April 17-19, 2023, and the insights shared below are from panel discussions our writer observed in... Read More »
Vivo Infusion Acquires Specialty Infusion
Vivo Infusion announced on June 20 that it has acquired Specialty Infusion for an undisclosed price. With this acquisition, Vivo Infusion will operate 55 ambulatory infusion centers across ten states. Founded in 2018, Specialty Infusion provides ambulatory infusion and specialty pharmacy services at 14 ambulatory infusion centers in New York, Massachusetts and New Jersey. Vivo Infusion is a provider of infusion and injection care for patients suffering from compromised immune systems, infectious diseases and other medical conditions. Vivo serves communities in Colorado, Florida, Ohio, Oklahoma, Pennsylvania, New Jersey and Texas with plans to expand to additional states. Private equity... Read More »
The Rise Funds: TPG’s Impressive Investment Vehicle
TPG (NASDAQ: TPG) has been incredibly active these last few months. As a global asset management firm with more than $137 billion of assets under management, TPG operates out of 14 offices across the globe. According to its website, it has more than 95,000 employees that serve more than 12 million patients each year. TPG invests across five multi-product platforms: Capital, Growth, Impact, Real Estate and Market Solutions, as well as a myriad of funds such as The Rise Funds. TPG kicked 2023 off with the acquisition of MedQuest Associates, Inc., a provider of on-site diagnostic imaging services that generates annualized revenue of approximately $200 million. This deal was completed as a... Read More »
Takeaways from the 6th Annual Physician Transactions Conference
The role of private equity in healthcare was the focus of the 6th Annual Physician Transactions Conference on March 9, 2023. Physicians, private equity investors, investment bankers and other healthcare business leaders gathered in Las Vegas to talk about what independent practices need to know about brokering a deal with a private equity firm. Attendees posed questions to other physicians who have already entered into PE deals, and panelists provided insights to help physicians consider whether partnering with outside investors will be the right path forward for their practices. Levin Associates was in attendance at the conference. Here is a summary of the main... Read More »Schedule a demo
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