In the wake of all the buzz around Midterm elections, here’s something uplifting.
Some hospitals are making sure patients are able to vote. The New York Times wrote a story the other day about a pilot program at Lenox Hill Hospital on the Upper East Side through which volunteers helped women in labor cast their ballots.
It seems that efforts like this are spreading across the country, which is great news for those that unexpectedly wind up in the hospital the night before an election.
Speaking of feeling left out…
I had quite a few conversations this week with investors and bankers, who reiterated how frothy the healthcare M&A market has become.
Healthcare technology in particular is pricey. Several assets in the space have been over-hyped, received an enormous amount of interest in the early stages of an auction, but once sponsors dug in a little more, sellers’ expectations looked a little less rational, sources said.
The market is rife with skepticism, one HCIT source said, but at the same time investors have an odd sense of desperation, another said. You know… FOMO.
That may be partly because we’ve seen tons of consolidation over the last several years, which means HCIT companies are bigger, but the opportunities … well, fewer. ICYMI, one current opportunity is M*Modal, which fielded first round bids earlier this week, I learned.
In any event, deals are getting done.
A couple weeks after Clearlake Capital shocked the market by paying some $550 million for Symplr … ResMed, known for its CPAP machines, struck a $750 million deal for MatrixCare, a software company tailored to the long-term, post-acute care industry.
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