Healthcare & Life Sciences Transaction and Valuation Advisory

Ankura’s valuation professionals assist healthcare provider and payer clients with the fair market valuation and fairness opinions related to a wide variety of businesses, assets, ownership interests, and services. Our valuation opinions often focus on:

• Entire business entities, including health systems, hospitals, physician practices, medical groups, surgery centers, dialysis centers, and managed care companies
• Joint venture ownership interests
• Equity and partnership ownership interests
• Intangible assets
• Real and personal property
• Management and administrative services

Ankura’s valuation professionals assist life sciences clients with the fair market valuation of a broad array of products and services for regulatory compliance, including:

• Distribution and specialty distribution services
• Specialty pharmacy services
• Sales and de-identified patient data
• Lease payments for facilities and equipment
• Co-promotion arrangements
• Sponsorships, exhibitor space, and other marketing opportunities
• Intellectual property agreements

• Expert Testimony
• Affirmative and Rebuttal Expert Reports
• Legal Counsel Consultation

We offer compensation valuation services based on in-depth data analytics and rigorous methodologies specifically designed to address the complexities of FMV under healthcare regulations, including the Stark Law and the Anti-Kickback Statute.

We provide valuations to assist our clients in meeting financial reporting requirements. We are well-versed in fair value analyses related to business combinations under ASC 805 and impairment testing as required by ASC 350.

Our healthcare transaction professionals provide expertise in the following areas in connection with sell-side and buy-side financial due diligence:

• Evaluating the Quality of Revenue and Accounts Receivable, including aspects such as cash collections velocity, payor mix, risk-based reimbursement contracts, reimbursement rates, and trends.
• Assessing the quality of a business's earnings, identifying non-recurring, out-of-period, non-cash, run-rate, pro forma, or other items impacting EBITDA.
• Analyzing net working capital trends.
• Identifying on- and off-balance sheet debt and debt-like items.
• Assisting with the review of asset or stock purchase agreements and the negotiation of net working capital targets and levels of indebtedness.
• Assessing the “Quality of Finance,” focusing on financial reporting, controls, and systems.
• Identifying key operational drivers, trends in profitability, and associated risks.