PE HUB Healthcare Wire 7.5.18

Pamplona Capital, private equity, healthcare,
Sarah Pringle of Buyouts. Photo by Robert Daniel, Buyouts.

Independence M&A: Will GoodRx create a firework show?

Happy Thursday!

Hope everyone is on the road to recovery following the week’s summer holiday festivities, or rather, continuing on with the festivities. It’s summer, after all.

I stayed local for the Fourth but did enjoy some pretty nice rooftop views from Brooklyn while indulging in all my favorite BBQ staples. Independence week also translates to minimal deal news, so I’m keeping it short and sweet today.

Here are a couple highlights on healthcare processes in the works….

What’s good with GoodRX

CNBC reported about two weeks ago that GoodRX was currently in talks to be acquired for at least $1.5 billion but could fetch as much as $3 billion.

I’ve since learned that JPMorgan Securities is providing financial advice to GoodRX, which helps consumers save money through discount coupons that can be applied to prescription drugs at the pharmacy.

A representative of the bank declined to comment and reps with GoodRX didn’t immediately return a request for comment.

GoodRX is being marketed off adjusted Ebitda of about $130 million, three people familiar with the matter said. One of the people added that leverageable Ebitda is closer to about $100 million and price talk is in the $2.5 billion or so range.

(The CNBC report said the company is on track to generate 2018 Ebitda of about $100 million.)


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