Fairness opinions › Bankers
Cain Brothers: healthcare fairness opinions
2 opinions in healthcare transactions, 2018-2025 — 2 to the target board. Each links to the filing and the full summary of analyses.
Opinions
2
2018-2025
Typical DCF discount rate
17.9%–20.5%
median of low / high · n=2
Terminal method
perpetuity growth 2
Median disclosed fee
$1.8M
n=2
Deals
| Announced | Target | Acquirer | Segment | EV | EV/EBITDA | EV/Rev | DCF rate |
|---|---|---|---|---|---|---|---|
| 2025-05-29 | Streamline Health | MDaudit | Digital / HealthTech | $37.4M | — | 2.09x | 16.9%–18.9% |
| 2018-10-03 | Birner Dental Management Services | Mid-Atlantic Dental Partners | Professional Services | $39.0M | 21.9x | 0.64x | 19.0%–22.0% |
Segments: Digital / HealthTech (1) · Professional Services (1)
Discount rates Cain Brothers has used
| Deal | Discount rate | Terminal | Growth / exit | Implied per share |
|---|---|---|---|---|
| Streamline Health 2025 | 16.9%–18.9% | perpetuity growth | 2.0%–3.0% | $2.20–$3.66 |
| Birner Dental Management Services 2018 | 19.0%–22.0% | perpetuity growth | 1.0%–2.0% | $4.89–$6.59 |
3,000+ healthcare deal-level valuation multiples
The Valuation database includes financial details for more than 3,000 healthcare M&A transactions, private and public, with deal-level multiples, categorized by segment, type, and year.