DCC plc’s Post

Pressure continues to build on PE firms to sell portfolio companies. The following is from Pitchbook... "In line with the broader asset class, 2023 was a historically poor year for PE healthcare services exits. We recorded 39 exits total, 22.0% below the next-lowest year on record, 2019. The decline was primarily driven by the dearth of sponsor-to-sponsor exits; we recorded only 18 of these for the year, almost half the pace set in the next-slowest year on record, 2020." Source: Q4 2023 Healthcare Services Report

We are pleased to announce the recapitalization of Point C through our Healthcare Advantage Fund ("ADV"). Point C is a third party administrator (“TPA”) of medical benefits, cost containment and other administrative services for self-insured employers. Formed in 2019, Point C became a leading TPA with a combination of organic growth, acquisition, and investment, leading to the strategic recapitalization for its next growth chapter. The ADV invests in a combination of external companies and currently held microcap portfolio companies. Point C is the first ADV investment. Congratulations to CEO Ben Frisch, the Point C Management Team, Board of Directors, and Shore Deal Teams: Healthcare Ryan Kelley (former Point C Chairman), Adam Pegram, Tim Sharky, Matt England, and ADV John Hennegan, Alex Nevill, AJ Gauthier, Benjamin Stuart, and Connor Brannick. Full release here: https://lnkd.in/e97y-KVc #TPA #BenefitsAdministration #PrivateEquity #Microcap #LowerMiddleMarket #MiddleMarket

Comrit has lowered their bid for American Healthcare REIT (NYSE: AHR) from $13.15 to $5.23 according to an 8-K filed by the newly listed REIT. The new tender offer price is 62% below where liquid shares trade on the NYSE and 43% below where illiquid shares trade on the secondary market. #liquidity #privatemarkets

Why attend the GTE Wealth Forum as an Investment Advisor? 1) GTE Wealth Forums are invitation only for senior executives and attendance is limited. 2) Efficiently research top quality investment solutions from the asset managers with whom you want to meet. 3) Network with other top executives. 4) Opportunity to streamline your due-diligence process. 5) Complimentary airfare and three nights at a luxury resort. For more information on the value in attending our GTE Wealth Forums as an Investment Advisor, watch our Advisor Synopsis video below. #networkingevent #financialservicesindustry #banktrust #rias #familyoffice #assetmanagement #fundmanagement

if you are looking for change and transformation capability to support your business and digital goals our FDG Consulting team can help! Reach out to me for a chat. On another note….Happy Valentine’s Day everyone 💚 #support #success #mindsetshift #changemanagement #digitalbusinesstransformation

Just Launched 🚀 PitchBook's recap of the McGuireWoods LLP #Healthcare #PrivateEquity conference, one of the two main healthcare PE conferences, with a focus on healthcare services in the core and lower middle market. ⭐ Here are some key takeaways: 🏥 The deal environment is more active than a year ago, but activity is not yet translating into announcements as deal processes move forward haltingly. 📉 The beginning of the Federal Reserve's rate-cutting cycle is likely to be the impetus for a serious resumption in deal activity, as we have maintained since last year. Further higher-for-longer signals could also prompt sellers to sell. 💳 The financing environment is becoming slightly more buyer-friendly, especially in the upper half of the market, as the broadly syndicated loan market reopens. EBITDA and interest coverage remain the key areas of lender scrutiny. 🏛 The antitrust environment was frequently mentioned in main-stage sessions, with many speakers pointing out PE's contribution to access and innovation in healthcare. However, those who needed to be convinced were not in the room. 💲 Physician compensation is becoming even more challenging than usual as elongated holding times and margin compression erode the value of the "second bite." 👂 Overheard in the pharma services session: "like a multisite physician practice deal but without all the hassle and with 10x the margin." Expect frothy valuations here in 2024. PPMs have fallen so severely out of fashion that the current period was compared to the 1990s—an overstatement but indicative of the market's sentiment. In the standing-room-only medspa session, two phrases uttered were "painfully fragmented" and "print cash." We are more interested in the consumer-driven wellness plays that might follow. #healthcare #privateequity #healthservices #finance #investing #antitrust #physiciancompensation #pharmaservices #consumerdrivenwellness

Exiting a business, especially in healthcare, is complex and emotional. With heightened regulatory scrutiny and economic shifts, planning a sale has become even tougher. Yet, deals are still happening. Husch Blackwell Partner Hal Katz offers key tips to help business owners position themselves better for a successful sale: https://lnkd.in/gDH8qDuq #PrivateEquity #MergersAndAcquisitions

Earlier this year, Michael Hodges (Managing Director – Capital Markets, Christie & Co) sat down with Patrick Ryan (Principal, SIRE Capital Partners) to discuss key investment opportunities in the UK healthcare market. To hear the full conversation, click here: https://lnkd.in/e9RrXVDe #capitalmarkets #healthcareinvestment #commercialproperty

Our latest insights on Healthcare M&A in Switzerland in the 2024 Chambers Global Practice Guide.

Deal making within healthcare in the first half of 2024 saw an increase in activity relative to 2023, espicially within IPOs, venture, and PIPEs/RDOs; however, the performance of healthcare equties has lagged behind the overall market as risk-aversion remains pervasive. For a full breakdown of the performance of healthcare equities and deal making across IPOs, Follow-Ons, PIPEs/RDOs, M&A, Licensing, and Venture see the full H1 report below that I assembled alongside my investment banking colleagues at Back Bay Life Science Advisors. US & EU Healthcare 2024 H1 Review 👉 https://lnkd.in/epJXC9Ng