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White Paper: Behavioral Health has Captured the Interest of Private Equity

The first quarter of 2021 delivered 38 reported behavioral health transactions, an increase over any quarter in 2020. We expect some of this activity reflects deals that were delayed due to COVID-19. However, we generally expect high deal flow throughout 2021, supported by increasing private equity interest, a favorable government, and a seller pool that is ready to transact.
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FOCUS Telecom Business Services Quarterly: Summer 2021 Report

Public Markets

Once again, the FOCUS Telecom Business Services Index (TBSI) climbed higher, gaining 3.5% over the past three months. This marks the fifth straight period with a positive return for the sector. However, the TBSI did lag the broader indices as the S&P 500 was up 8.2% and the NASDAQ was up 9.5% over the same time period. When looked at over the past 12 months, the sector’s return compares more favorably to the overall market. The 43.3% year-over-year gain in the TBSI outperforms the 38.6% gain in the S&P 500 and falls just shy of the 44.2% gain in the NASDAQ. Sector multiples are also higher than at this same time last year and closed out the period at 0.7x revenue and 9.6x EBITDA. This compares to year-ago multiples of 0.6x revenue and 7.4x EBITDA.

Behavioral Health Report – Q2 2021 Acquisition Activity and Outlook

Transaction Volume Remains High Throughout Behavioral Health

The second quarter of 2021 delivered thirty-four reported behavioral health transactions, continuing a strong consolidation surge within the industry. We generally expect high deal flow throughout 2021, supported by increasing private equity interest, a favorable government, and a seller pool that is ready to transact.

Orthopedics Report – Q2 2021 Acquisition Activity and Outlook

Seventeen PE Firms are now Investing in Orthopedic Practice Acquisitions, Signaling Future Surge Add-on Activity

The second quarter of 2021 delivered three reported orthopedic practice acquisitions, including the formation of Ortho Alliance New Jersey which included seven orthopedic practices in New Jersey joining to form the largest orthopedic group in the state.

Ophthalmology Report – Q2 2021 Acquisition Activity and Outlook

After a Strong First Half, 2021 Is Now Looking Like a True Window of Opportunity for Ophthalmology Deals

The second quarter of 2021 delivered twenty-two reported ophthalmology practice acquisitions, continuing the surge of M&A activity within the specialty.