The S&P Healthcare Services Index decreased by 15.3% over the last month, compared to the S&P 500 Index, which decreased 9.1% over the same period.

Over the past month:

  • No sectors experienced growth –the lowest decliners were Specialty Managed Care (down 0.2%), Commercial Managed Care (down 1.5%) and Product Distribution (down 2.0%).
  • The sectors that experienced the largest decline were Telemedicine (down 46.6%), Home Medical Equipment (down 20.8%), and Acute Care Hospitals (down 16.2%).
  • The current average Last Twelve Months (LTM) revenue and LTM EBITDA multiples for the healthcare services industry overall are 2.70x and 14.5x, respectively.

Healthcare Services Sector Update – Late Spring 2022

The sectors with the highest valuation multiples include:

  • Assisted/Independent Living (2.24x LTM revenue, 30.7x LTM EBITDA)
  • Consumer Directed Health/Wellness (4.04x LTM revenue, 27.5x LTM EBITDA)
  • Rehabilitation (2.75x LTM revenue, 22.0x LTM EBITDA)
  • HCIT (3.61x LTM revenue, 21.1x LTM EBITDA)
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