Ross Hammerman, co-head of global healthcare banking at Deutsche Bank, has left the firm, according to sources with knowledge of the matter.
Hammerman joined the bank in October 2016 from UBS, where he was a managing director for about two years. He previously spent six years at Citi, his LinkedIn profile shows.
Concurrently, Nick Richitt from within the firm has been appointed Americas head of healthcare investment banking, sources told PE Hub. Since joining Deutsche in January 2017 as a managing director, Richitt has led the firm’s healthcare IT efforts.
Richitt’s notable sell-side advisory roles at Deutsche have included New Mountain Capital’s sale of healthcare payment integrity provider Equian to UnitedHealthcare’s Optum. (The $3.2 billion outcome – nearly 7x its value three-and-a-half years earlier – earned NMC Buyouts’ overall Deal of the Year award for 2019 as well as the top spot in the large markets category.)
Richitt last year also advised on Bain’s majority sale of WayStar to EQT Partners and CPPIB, which valued the healthcare revenue cycle management giant at $2.7 billion.
On the buy-side, recent mandates include the $5.7 billion sale of Athenahealth to Veritas Capital and Evergreen Coast Capital, an Elliott Management subsidiary. Deutsche Bank advised Evergreen on what represented one of 2018’s largest healthcare buyouts.
Richitt previously spent four years at Suntrust Robinson Humphrey, where he was an MD within Technology and Services Investment Banking. Prior to Suntrust, he spent seven years at Oppenheimer, formerly CIBC World Markets.
Deutsche declined to comment.