Stat of the week graph
Stat of the week graph

Stat of the Week: CVS’s 10.9x EBITDA

If you can’t beat ’em, buy ’em. Or be bought. That’s the path Aetna (NYSE: AET) is taking, perhaps, as the healthcare industry reacts to news that the health insurer is in talks with CVS Health Corp. (NYSE: CVS) to be acquired for $200 per share, approximately $66 billion.

Managed Care Mega-Deals Not Too Big to Fail

2015 is about to lose even more of its M&A luster, it seems. Some $91 billion is about to disappear from the record-setting spending on healthcare M&A, thanks to the potential unraveling of two managed care mega-mergers. Bloomberg is reporting that the U.S. Department of Justice plans to file lawsuits seeking to halt the mergers of Aetna (NYSE: AET) […]

Health Care M&A Exploded in July

The fireworks didn’t end on the Fourth of July, at least for the health care M&A market. Preliminary data shows deal volume rose 16% to 121 deals, compared with June’s 104 deals. Thanks to the mega-deals among health insurers and generic drug makers, deal value was approximately $166.6 billion, up 883% over June’s $16.9 billion. […]

Health Care Insurer Mergers: Who Got the Best Deal?

You’ve heard the prices, now here are the multiples. After hours of teasing about a definitive agreement, Anthem, Inc. (NYSE: ANTM) finally reached an agreement to acquire Cigna Corp. (NYSE: CI) for $54.2 billion. That works out to 1.5x price/revenue and 13.9x price/EBITDA. The deal followed Aetna’s (NYSE: AET) $37 billion acquisition of Humana Inc. (NYSE: HUM), which gives us a multiple […]

Centene Snares Health Net for $6.8 Billion

And so it begins. The managed care merry-go-round picked up speed last week as Centene Corporation (NYSE: CNC) announced it would pay approximately $6.8 billion (including $500 million of debt) to acquire a smaller rival, Health Net, Inc. (NYSE: HNT). A day later, Aetna (NYSE: AET) and Humana (NYSE: HUM) agreed to a deal priced […]