When 2003 began, things did not look too encouraging for the skilled nursing facility industry. Kindred Healthcare (NASDAQ: KIND) had seen more than 50% of its market capitalization wiped out as a result of patient care liability issues, Centennial Healthcare had just...
Merger and acquisition activity in the health care industry was brisk in 2003. We estimate the year will close with 875 deals which, based on prices revealed to date, are collectively worth $90 billion. These figures receded somewhat from last year’s levels. The year...
It is always amusing what an end of the quarter, or end of year, can do to (and for) management, as well as their advisors. Whether it is cleaning up the balance sheet, taking non-cash charges so the following period can start off clean or closing acquisitions and...
On the last Monday in October, the Managed Care sector produced two of the largest deals to be announced in the past 10 years. Even news on the same day of the $48 billion merger of Bank of America (NYSE: BAC) and FleetBoston Financial Corp. (NYSE: FBF) could not take...
The health care merger and acquisition market has been unusually steady during the first three quarters of 2003. The total number of announced transactions has ranged between 225 and 230 in each of the past three quarters, and the total dollar amount of deals with...
Results are in for the health care M&A market during the third quarter of 2003. Reflecting a gradual improvement in the overall economy during the most recent quarter, both deal volume and the amount spent to finance this acquisition activity showed an increase...