Fairness opinions › Bankers
Rothschild & Co: healthcare fairness opinions
2 opinions in healthcare transactions, 2018-2022 — 2 to the target board. Each links to the filing and the full summary of analyses.
Opinions
2
2018-2022
Typical DCF discount rate
11.8%–13.5%
median of low / high · n=2
Terminal method
perpetuity growth 2
Median disclosed fee
$22.2M
n=2
Deals
| Announced | Target | Acquirer | Segment | EV | EV/EBITDA | EV/Rev | DCF rate |
|---|---|---|---|---|---|---|---|
| 2022-07-07 | Meridian Bioscience | SD Biosensor / SJL Partners | Diagnostics / Life Sciences | $1.5B | 17.6x | 5.07x | 9.5%–11.0% |
| 2018-07-03 | Juniper Pharmaceuticals | Catalent | Pharmaceutical Services | $128M | 9.9x | 1.97x | 14.0%–16.0% |
Segments: Diagnostics / Life Sciences (1) · Pharmaceutical Services (1)
Discount rates Rothschild & Co has used
| Deal | Discount rate | Terminal | Growth / exit | Implied per share |
|---|---|---|---|---|
| Meridian Bioscience 2022 | 9.5%–11.0% | perpetuity growth | 2.3%–3.3% | $29.20–$39.35 |
| Juniper Pharmaceuticals 2018 | 14.0%–16.0% | perpetuity growth | 2.0%–3.0% | $10.10–$12.00 |
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.