The popularity of special purpose acquisition companies (SPACs) has been soaring in recent years. There are 35 times as many SPACs operating in 2020 as in 2010, and these companies seem poised for greater exponential growth in the future. While many experts are predicting a continued, rapid increase in SPACs, this article will also examine the factors that could possibly slow SPAC growth and diminish their future prospects. SPACs span several market areas, including biotechnology and healthcare; this article will review SPAC trends generally as well as healthcare SPACs in particular. (Read more...)
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The involvement of private equity (PE) in the healthcare industry in the first quarter of 2021 disappointed investors after the number of deals closed was only half the number of deals in the same quarter of 2020. Just over a year ago, when the COVID-19 pandemic was hitting the U.S. full force, the volume of transactions increased at the end of the first quarter of 2020; however, there were very few large transactions. After dipping in the second quarter, the latter half of 2020 saw a revival of PE deal making, and after a particularly robust fourth quarter, investors anticipated a surge of transactions leading into 2021. (Read more...)
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Convenience care clinics, including urgent care centers (UCCs) and retail health clinics, have seen increasing popularity and attention in recent years. As the number of UCCs and retail health clinics in the U.S., as well as the number of patients they serve, grow, some experts have called for stronger state regulation and oversight in order to ensure that these convenience care centers are providing access to all, including vulnerable communities, without discrimination. (Read more...)
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As discussed in the first and second installments of this four-part series, the shift to outpatient care in the healthcare industry has resulted in the advent of a growing number of diverse outpatient office-based facilities tailored to meet the accelerated growth in demand for healthcare services, leading to the establishment of, among other enterprises, ambulatory surgery centers (ASCs) and, more recently, office-based laboratories (OBLs). This third installment will discuss valuation considerations (i.e., value drivers and investment risk factors) for ASCs, while the fourth installment will discuss the value considerations specific to OBLs. (Read more...)
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"Valuation of Senior Healthcare Part III of III," authored by HCC President, Todd A. Zigrang, MBA, MHA, FACHE, CVA, ASA, and, HCC Vice President and General Counsel, Jessica Bailey-Wheaton, Esq., was published by the National Association of Certified Valuators and Analysts (NACVA) in The Value Examiner.
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This one-hour webinar provides legal and valuation perspectives on the finalized changes to the Stark Law and the Anti-Kickback Statute. Specific issues covered include:
- The changes to the “big three” requirements – Fair Market Value, Commercial Reasonableness, and the Volume or Value Standard;
- The new exceptions and safe harbors for value-based arrangements, including where the Stark Law and Anti-Kickback Statute final rules differ; and
- Other new and modified exceptions and safe harbors included in the final rules.
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