Fort Worth-based healthcare mergers and acquisitions firm VERTESS has closed on five major healthcare transactions in Q3 2023 with a combined total transaction value of $75 million, the company said.
The five transactions were in “various healthcare verticals.”
VERTESS said that the headwinds faced earlier in the year because of global and domestic economic pressures are clearing and signs for a profitable Q4 and 2024 are strong.
“At the end of 2022 and early 2023, we saw a sharp decline in the pace of M&A activity,” Bradley Smith, managing director for one of the sellers, said in a statement. “We continued to push forward and remain patient. We’re pleased for our clients that our perseverance with buyers resulted in several successes.”
VERTESS said the healthcare verticals for the five closed transactions included pediatric-focused home medical equipment and service providers, home healthcare services, custom rehab and durable medical equipment, as well as retail pharmacy.
The firm added that more than half of VERTESS’ managing directors successfully closed deals in Q3.
“We’re encouraged by the uptick in deal activity at the end of 2023,” VERTESS Managing Partner Vaughne Glennie said in a statement. “Although the dry powder remained available for many buyers, there was clearly some risk avoidance starting in mid-2022. As we continue to launch new deals this fall, the heightened response we’ve received from buyers clearly shows a trend toward a very active 2024 in healthcare M&A.”
“Our managing directors are always available to talk to healthcare business owners about their future goals and to be a resource for any exit planning,” Glennie added.
VERTESS is an international healthcare-focused M&A advisory firm with expertise spanning diverse healthcare and human service verticals, ranging from behavioral health and intellectual/developmental disabilities to DME, pharmacies, home care/hospice, urgent care, life sciences, and other specialized services and products.
In 2022, VERTESS added three managing directors to its leadership team, naming Rachel Boynton, Anna Elliott, and Robert Villalobos as new partners in the firm.
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