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Healthcare & Life Sciences Transaction and Valuation Advisory

Insightful and Reliable Valuations Across the Full Spectrum of Healthcare and Life Sciences

In the current, fast-changing healthcare and life sciences environment, participants are presented with an unprecedented number of growth opportunities. However, given the highly regulated nature of these industries, participants must also mitigate enterprise and reputational risk.

Ankura has a specialized valuation and transaction advisory team attuned to the unique considerations of the healthcare and life sciences industries. Our professionals provide a full range of valuation and transaction advisory services to help our clients pursue growth while navigating a dynamic regulatory and business environment.  Clients leverage our insightful and thorough analyses to enable informed business decisions concerning M&A, regulatory compliance, tax compliance, divestitures, joint ventures, financial reporting, litigation support, compensation, and other critical motivations.


Healthcare Providers and Payer Valuation Services

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
Life Sciences Valuation 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
Litigation and Arbitration Support Valuation Services
  • Expert Testimony
  • Affirmative and Rebuttal Expert Reports
  • Legal Counsel Consultation
Physician Compensation Fair Market Valuation

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.

Financial Reporting Fair Valuation

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.

Financial Due Diligence Services

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.

Hospital Joint Venture

Valuing 1,750+ Licensed Beds and Facilities

Ankura was engaged to provide a fair market valuation analysis of a joint venture entity that included five general acute care hospitals with over 1,750 licensed beds and various outpatient facilities for transaction planning purposes. Ankura’s valuation was used to determine the relative equity value split for the joint venture parties.

The Ankura Difference

Our professionals have valued hundreds of business enterprises, equity interests, strategic alliances, as well as tangible and intangible assets that often must withstand third-party scrutiny.  Ankura’s valuation experts have decades of experience in the healthcare and life sciences industry and are attuned to the unique legal and regulatory issues affecting valuations.  In addition, our team has testified in both federal and state cases, as well as arbitration settings, when disputes arise related to the value of healthcare and life sciences businesses, assets, and arrangements.

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We solve problems by operating as one firm to deliver for our clients. Where others advise, we solve. Where others consult, we partner.

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