Fairness opinions › Bankers
Truist Securities: healthcare fairness opinions
3 opinions in healthcare transactions, 2024-2025 — 3 to the target board. Each links to the filing and the full summary of analyses.
Opinions
3
2024-2025
Typical DCF discount rate
11.0%–12.8%
median of low / high · n=3
Terminal method
perpetuity growth 3
Median disclosed fee
$23.7M
n=2
Deals
| Announced | Target | Acquirer | Segment | EV | EV/EBITDA | EV/Rev | DCF rate |
|---|---|---|---|---|---|---|---|
| 2025-12-15 | Quipt Home Medical | Kingswood Capital Management / Forager Capital Management | Distribution and Equipment Services | $260M | 4.7x | 1.06x | 10.8%–12.8% |
| 2025-07-31 | Performant Healthcare | Machinify | Managed Care | $670M | 43.2x | 4.60x | 12.3%–15.3% |
| 2024-05-28 | Atrion | Nordson | Medical Devices and Supplies | $800M | 19.1x | 4.36x | 11.0%–12.0% |
Segments: Distribution and Equipment Services (1) · Managed Care (1) · Medical Devices and Supplies (1)
Discount rates Truist Securities has used
| Deal | Discount rate | Terminal | Growth / exit | Implied per share |
|---|---|---|---|---|
| Quipt Home Medical 2025 | 10.8%–12.8% | perpetuity growth | 2.0%–4.0% | $1.78–$3.80 |
| Performant Healthcare 2025 | 12.3%–15.3% | perpetuity growth | 3.0%–5.0% | $4.26–$7.16 |
| Atrion 2024 | 11.0%–12.0% | perpetuity growth | 5.0%–6.0% | $321.40–$433.90 |
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.