Fairness opinions › Segments
Professional Services fairness opinions
4 public-company healthcare transactions in Professional Services, 2010-2018, 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
9.2x
median · n=4
EV / LTM revenue
0.76x
median · n=4
DCF discount rate (midpoint)
15.8%
median · n=4
Professional Services transactions with a fairness opinion, 2010-2018. 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 Professional Services
Cain Brothers (1) · Jefferies (1) · Greenhill (1) · BofA Securities (1) · Roth Capital Partners (1)
All Professional Services transactions
| Announced | Target | Acquirer | EV | EV/EBITDA | EV/Rev | DCF rate | Fairness opinion |
|---|---|---|---|---|---|---|---|
| 2018-10-03 | Birner Dental Management Services | Mid-Atlantic Dental Partners | $39.0M | 21.9x | 0.64x | 19.0%–22.0% | Cain Brothers |
| 2012-06-11 | IntegraMed America | Sagard Capital Partners | $178M | 8.5x | 0.59x | 13.5%–14.5% | Jefferies |
| 2011-11-07 | American Dental Partners | JLL Partners | $398M | 8.1x | 1.36x | 11.5%–13.5% | Greenhill, BofA Securities |
| 2010-11-01 | Pet DRx | VCA | $61.5M | 9.8x | 0.87x | 15.0%–25.0% | Roth Capital Partners |
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.