Fairness opinions › Segments
Hospitals fairness opinions
5 public-company healthcare transactions in Hospitals, 2013-2026, each with the banker's fairness opinion from the SEC filing: the DCF discount rate and terminal assumptions, the selected companies and precedent transactions, and the deal terms.
Valuation benchmarks
EV / LTM EBITDA
8.0x
median · n=5
EV / LTM revenue
0.71x
median · n=5
DCF discount rate (midpoint)
7.8%
median · n=5
Hospitals transactions with a fairness opinion, 2013-2026. Multiples are enterprise value over the last-twelve-months figure disclosed in the filing; the discount rate is the midpoint of the range the banker used in its DCF.
Bankers most often engaged in Hospitals
Goldman Sachs (2) · Barclays (1) · Guggenheim Securities (1) · Morgan Stanley (1) · Lazard (1) · UBS (1) · J.P. Morgan (1)
All Hospitals transactions
| Announced | Target | Acquirer | EV | EV/EBITDA | EV/Rev | DCF rate | Fairness opinion |
|---|---|---|---|---|---|---|---|
| 2026-03-02 | Select Medical | WCAS, et. al. | $3.9B | 8.0x | 0.68x | 10.0%–12.0% | Goldman Sachs |
| 2018-07-23 | LifePoint Health | Apollo Global Management | $5.6B | 7.5x | 0.88x | 7.0%–8.5% | Goldman Sachs |
| 2017-12-19 | Kindred Healthcare | Humana/TPG/WCAS | $4.1B | 8.0x | 0.68x | 8.5%–9.5% | Barclays, Guggenheim Securities |
| 2013-07-30 | Health Management Associates | Community Health Systems | $7.3B | 9.1x | 1.24x | 7.0%–8.0% | Morgan Stanley, Lazard, UBS |
| 2013-06-24 | Vanguard Health Systems | Tenet Healthcare | $4.3B | 8.1x | 0.71x | 7.5%–8.0% | J.P. Morgan |
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.