Healthcare Services & Health Tech

Overview

Healthcare services and health technology businesses occupy one of the most resilient and strategically important segments of the middle market. Demand is driven by demographic tailwinds, chronic care needs, cost containment pressures, and increasing adoption of technology-enabled delivery models.

However, healthcare M&A is inherently complex. Regulatory compliance, reimbursement dynamics, data privacy, clinical risk, and operational scalability materially affect valuation and deal structure. Buyers underwrite healthcare assets with heightened scrutiny, particularly around compliance history, payer mix, margin sustainability, and growth visibility.

Calibore advises founders and owners through healthcare transactions with a focus on precision, transparency, and risk-adjusted value. We help articulate defensible growth narratives, normalize earnings within regulatory constraints, and position businesses credibly for sophisticated healthcare investors and strategic buyers.

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Sectors We Serve

Healthcare IT & data platforms
Revenue cycle management (RCM)
Practice management & MSOs
Behavioral health & outpatient services
Diagnostics, imaging & lab services
Remote care & telehealth solutions
Care coordination and patient engagement platforms

Advisory Services

Sell-side M&A and strategic exits
Growth equity and minority investments
Regulatory and compliance positioning
Contracted revenue and payer mix analysis
Buyer diligence readiness
Transaction structuring with earn-outs and rollovers

Value Drivers Buyers Focus On

Recurring, contracted revenue models
Regulatory compliance and defensibility
Clinical outcomes and operational KPIs
High switching costs and embedded workflows
Scalable technology or service platforms
Alignment with value-based care trends
Strong management and compliance leadership

2026 EBITDA Multiple Range: 7.0× – 12.5x

Upper end driven by:

Contracted / recurring revenue
Scalable platforms (RCM, diagnostics, MSOs)
Clean regulatory profile
Strong compliance infrastructure

Lower end driven by:

Reimbursement risk
Customer or payer concentration
Regulatory overhang

2026 outlook:

Valuations remain bifurcated — high for quality, disciplined for risk. Buyers reward compliance and predictability more than raw growth.

Sectors We Serve

Healthcare IT & data platforms
Revenue cycle management (RCM)
Practice management & MSOs
Behavioral health & outpatient services
Diagnostics, imaging & lab services
Remote care & telehealth solutions
Care coordination and patient engagement platforms

Advisory Services

Sell-side M&A and strategic exits
Growth equity and minority investments
Regulatory and compliance positioning
Contracted revenue and payer mix analysis
Buyer diligence readiness
Transaction structuring with earn-outs and rollovers

Value Drivers Buyers Focus On

Recurring, contracted revenue models
Regulatory compliance and defensibility
Clinical outcomes and operational KPIs
High switching costs and embedded workflows
Scalable technology or service platforms
Alignment with value-based care trends
Strong management and compliance leadership

2026 EBITDA Multiple Range: 7.0× – 12.5x

Upper end driven by:

Contracted / recurring revenue
Scalable platforms (RCM, diagnostics, MSOs)
Clean regulatory profile
Strong compliance infrastructure

Lower end driven by:

Reimbursement risk
Customer or payer concentration
Regulatory overhang

2026 outlook:

Valuations remain bifurcated — high for quality, disciplined for risk. Buyers reward compliance and predictability more than raw growth.

Why founders engage Calibore:

We ensure innovation, outcomes, and compliance translate into real enterprise value — not just growth headlines.

Questions & Answers

How does regulation affect valuation in healthcare transactions?

Are healthcare buyers focused more on growth or stability?

Can founders retain control after a transaction?

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