M&A Advisory

Fri, Oct 16, 2020

Healthcare Services Sector Update – September 2020

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The S&P Healthcare Services Index decreased by 0.1% over the last month, compared to the S&P 500 Index, which decreased 4.6% over the same period.

Over the past month, the sectors that experienced the most growth were Behavioral Health (up 12.2%), Healthcare Staffing (up 8.7%) and Clinical Laboratories (up 6.5%). The sectors that experienced the largest declines were Healthcare Consulting (down 11.0%), Assisted/Independent Living (down 8.7%) and Acute Care Hospitals (down 8.2%).

The current average Last Twelve Months (LTM) revenue and LTM EBITDA multiples for the healthcare services industry overall are 1.79x and 10.6x, respectively.

Healthcare Services Sector Update – September 2020

The sectors with the highest valuation multiples include:

  • HCIT (4.31x LTM revenue, 26.8x LTM EBITDA)
  • Contract research organizations (3.44x LTM revenue, 20.6x LTM EBITDA)
  • Home health/hospice (2.97x LTM revenue, 20.0x LTM EBITDA)
  • Hospital vendors (1.80x LTM revenue, 19.0x LTM EBITDA)

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