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Insights into Healthcare M&A: Q3 2024 Trends
Healthcare M&A activity increased in the third quarter of 2024, with 33 transactions vs. 21 in 2023. Healthcare Services was the most active healthcare subsector, representing 42% of deal volume, with the most notable transaction being TowerBrook’s and CD&R’s $8.3B acquisition of R1 RCM. Biopharma transaction volume increased slightly in the third quarter of 2024, with 10 transactions vs. 9 in 2023, while transaction value declined from $13 billion to $9 billion. Oncology was the most active therapeutic area. We expect Biopharma M&A activity to remain dynamic as large biopharmaceutical companies seek to fill revenue and pipeline gaps via acquisitions of development-stage companies. We continue to expect both private and publicly traded pre-commercial biopharma companies to evaluate the full range of strategic alternatives, including partnerships, mergers and sale transactions. Given an improving macroeconomic backdrop and corresponding capital markets environment, we also expect private development-stage private companies to increasingly evaluate IPOs.
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Leerink Partners Adds Industry Veteran Andrew Gitkin to Healthcare Investment Banking Team

Published: April 25, 2024

BOSTON, MA – APRIL 25, 2024 – Leerink Partners, a leading investment bank specializing in healthcare, today announced the addition of Andrew Gitkin as Senior Managing Director, Investment Banking. Mr. Gitkin brings over 25 years of experience in healthcare investment banking, specializing in mergers and acquisitions with a focus on ophthalmology and robotic surgery. Mr. Gitkin will be based in the firm’s Miami office and will report to Dr. Dan Dubin, Global Co-Head of Investment Banking.

“Andrew’s expertise in M&A advisory for ophthalmology and robotic surgery companies positions him as a valuable asset to our team and our clients,” stated Dr. Dan Dubin, Global Co-Head of Investment Banking.”

Prior to joining Leerink Partners, Mr. Gitkin served as a Senior Managing Director and Vice Chairman at Raymond James & Associates, co-leading the U.S. healthcare investment banking group. Previous to his role at Raymond James, Mr. Gitkin served as Managing Director and Head of West Coast Biotechnology at PiperJaffray & Company.
Prior to working at PiperJaffray, he honed his M&A expertise in the pharmaceutical, biotechnology, medical device, and diagnostic sectors at Moelis & Company.

Mr. Gitkin shared, “I am thrilled to join the Leerink team and share in their commitment to achieve the highest levels of success for our clients. I am eager to leverage my expertise with our clients to enhance the firm’s distinguished reputation for excellence.”

To learn more, visit: https://www.leerink.com

About Leerink Partners
Leerink Partners is a highly specialized healthcare investment bank with a legacy of excellence in the financial industry. The firm’s experienced team delivers innovative advisory solutions, capital raising expertise, and unique insights to empower clients to achieve their strategic objectives. Since inception, the firm has helped clients raise over $160 billion and has established itself as a trusted partner to healthcare companies and their investors. The firm is a broker-dealer registered with the United States Securities and Exchange Commission and a member of the Financial Industry Regulatory Authority.

Leerink Partners
Contact: Diane Vieira
(617) 918-4097

Prosek Partners for Leerink Partners
Contact: Michael Schutsky
(646) 818-9251

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