60 Seconds with Swett: Healthcare M&A Totals
We know that seniors housing and care dealmakers pushed M&A activity to its second-highest total ever in 2023, with around 490 transactions, and counting. But what about the whole healthcare industry, which our sister publication LevinPro HC tracks? For the year, the 12 other healthcare sectors we cover, from Behavioral Health and Home Health to Hospitals and Physician Medical Groups, a total of 2,154 transactions were publicly announced, a 12% decline from the 2,443 transactions disclosed in 2022, which was a record-high. It also fell 4% short of 2021’s total, but historically, anything above 2,000 is on another level. After all, 2019 only reached around 1,400 deals. All sectors... Read More »
60 Seconds with Swett: 2023 M&A Totals Higher Than Expected
Happy New Year everyone, and we think most are very happy to put 2023 behind them. It was a difficult year for dealmakers, having to adapt to quickly changing capital markets, sometimes fickle lenders, buyers and sellers, and lower overall inventory of facilities to sell or finance. It would be hard to imagine a more challenging year, barring some catastrophe yet unknown to us. Sorry for putting that out there. And yet, believe it or not, seniors housing and care M&A transaction totals in 2023 only failed to surpass 2022’s total of 556 deals, which blew the previous record out of the water. We recorded 489 publicly announced deals in 2023, which is still a preliminary number that... Read More »
60 Seconds with Steve Monroe: Not So Merry This Year?
As many of you know, this time of year I often do my “Twas The Night Before Christmas” roast of senior participants in our industry, picking on either REITs, brokers, provider CEOs, or anyone else. Somehow, this year it just didn’t seem appropriate. They have been picked on enough, but not in jest like I try to do, even though some seem to take it a bit too personally. You shouldn’t. It seems the media, in particular The New York Times and The Washington Post, have decided to pick on the assisted living industry, maybe figuring nursing homes have already been through the media meat grinder, which they have. Last weekend, The Post came out with two articles blasting the assisted living... Read More »
60 Seconds with Swett: An Investor’s Guide to 2024: Buy, Sell, Finance & Thrive in Senior Care
Most are predicting similar conditions in the senior care M&A market next year, as compared with 2023, and that could be largely true with sustained high interest rates, operational and financial distress still out there and lower values. But taking advantage of the more subtle shifts in valuations, the lending environment, seller and listing profiles, acquisition strategies, distress and operational improvements could prime some for success in what should still be a difficult year. The decisions made in 2024 could also set the stage for many companies to excel in 2025 when M&A activity, new developments and valuations likely come storming back. We’ll be looking to the future... Read More »
60 Seconds with Swett: U.S. Senior Care Deal Activity Surpasses 400 Deals
Across U.S. senior care M&A activity, we have surpassed 400 transactions in the first 11 months of the year, hitting 402. That is more than 15% down from the 476 transactions recorded in the first 11 months of 2022, but we are not sure many would have predicted the market even exceeding 400 deals. Of course, deals will continue to trickle in from the previous months, and December could yield its usual rush of closings, but we would be lucky to reach 450 deals on the year, far below 2022’s U.S. total of 517 deals. However, believe it or not, 2023’s estimated annual deal count of, let’s conservatively call it 440 deals publicly announced in the U.S., would be a very healthy number,... Read More »Schedule a demo
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