Nothing in this website is intended to be or should be construed or taken as accountancy, investment, tax or any other kind of advice. Equity Multiples. Pharmaceutical & life sciences: US Deals 2023 outlook - PwC By competing in earlier rounds, investors are more likely to pay more on a risk-adjusted basis for a startup than its later-stage funders, twisting the risk-adjusted valuation upside down. Austria: Paying and information agent: Zeidler Legal Process Outsourcing Ltd., SouthPoint, Herbert House, Harmony Row, Grand Canal Dock, Dublin 2, Ireland. Prospectus, Key Investor Information Document (KID), the articles of association as well as the annual and semi - annual reports of the Bellevue Funds under Luxembourg law are available free of charge from the above mentioned representative, paying, facilities and information agents as well as from Bellevue Asset Management AG, Seestrasse 16 , CH - 8700 Kusnacht. Tech, Trends and Valuation. For example, a Seed startup could be valued using 50-60% IRR, whilst a Series A startup would instead use 40-50%. In part because of hospital-at-home excitement, on-demand healthcare landed the top-funded digital health value proposition spot of 2022 ($2.4B), led by urgent-care-at-home service DispatchHealth ($330M) and startups like Homeward Health, which raised twice in 2022. By accessing this website you state that you agree with the data protection statement. We ended 2021 reflecting on the rise of digital health solutions selling direct-to-consumer (D2C), as increased out-of-pocket healthcare spend gave startups consumer dollars to aim for. Last years efforts to diversify revenue streams saw Big Tech players building up businesses in data infrastructure, analytics, and finance, not to mention taking on the challenge of healthcare innovation in earnest. Further information on investor rights can be found on the Management Company's website (https://www.universal-investment.com). With all these forces compounded, several hospitals across the U.S. recorded losses of over one billion dollars in 2022. The management company may decide to cancel the arrangements it has made for the distribution of the units of its collective investment undertakings in accordance with Article 93a of Directive 2009/65/EC and Article 32a of Directive 2011/61/EU. Its worth calling out that competition is a powerful motivator for health system innovation, especially as retail giants battle their way into care delivery. This has resulted in an increase in valuation multiples for platform acquisitions from 7.6x EBITDA in late 2000s up to 14x EBITDA in 2021 (see Figure 9). 1.91K Followers. Deal Type Date Amount Raised to Date Post-Val Status Stage; 5. As a cherry on top, burnout pushed record numbers of clinicians to retire or work fewer hours, which kept health systems in crisis modeand paying crisis wages. Well, is digital health in a bubble or not? | Rock Health The behavioral health industry is coming off a record number of transactions and as multiples remain high, companies are having to get smarter about . Health systems also took steps to shift toward care models that decrease operational burden.