We’ve all seen those brilliant pronouncements. You know, the ones that seem like they could come from Neil deGrasse Tyson, only to realize that they just as easily could have come from Mike Tyson – with a mouthful of ear.
Suddenly, pediatric home care mergers and acquisitions is Where the Wild Things Are. The rumpus first broke when Bain Capital (yeah, that Bain, and perhaps bane of Mitt Romney) announced that it was acquiring Epic Health Services for a cool (just under) billion dollars.
You go to B-school. You learn about discount rates, cost of capital, multiples, discounted cash flow, capital structures, tranches (oh, the bankers go ga ga over tranches) – enough numbers and data to make a spreadsheet jockey swoon.
After PE giant Blackstone recently announced it was acquiring TeamHealth, a shareholder lawsuit was filed alleging that the fix was in, noting that the TeamHealth board had previously passed on a far more lucrative offer.
In TV Land’s version of health care, hospital docs have always gotten the glory: McDreamy at Seattle Grace; Denzel at St. Eligius; Clooney at Country General Hospital; Mandy Patinkin at Chicago Hope;
In mergers & acquisitions, you probably think that buyers rigorously work-up factors such as weighted average cost of capital, discount rates, projected net free cash flows