M&A MARKET UPDATE JANUARY 2020 SOUTHEAST MONTHLY REVIEW
Notable Trends in January 2020
For the month of January, deal count was down 35.9% compared to 2019, dropping from 103 to 66. Additionally, invested capital and medial deal size were both down 45.8% and 17.7% respectively. Invested capital dropped from $31 billion to $17 billion, and median deal size fell from $116 million to $95 million. Centene’s $15.3 billion acquisition of WellCare Health Plans was the largest deal of the month, accounting for more than 90% of all capital invested for the month of January. Additionally, EV/EBITDA multiples increased between months, moving from 10.5x in December to 13.4x in January.