Gary Herschman Quoted in “Health-Care Transactions Update: Big August Deals Signal Robust Fall”Bloomberg BNA Health Care Daily Report September 21, 2017
Gary W. Herschman, a Member of the Firm in the Health Care and Life Sciences practice, in the firm’s Newark office, was quoted in the Bloomberg BNA Health Care Daily Report, in “Health-Care Transactions Update: Big August Deals Signal Robust Fall,” by Mary Anne Pazanowski.
Following is an excerpt (see below to download the full version in PDF format):
One-hundred twelve transactions were announced or closed in August, building on the 103 deals announced or closed in July, which was the first month since March in which deal volume exceeded 100 transactions.
The numbers are good news, according to Bloomberg BNA’s transactions advisory board, whose members said they bode well for a robust fourth quarter. The uptick in volume, reflected on the year-to-date list as well, “demonstrates that health-care mergers and acquisitions remain extremely active,” Gary W. Herschman told Bloomberg BNA.
Clearly apparent from the August list of health-care deals is a trend toward the formation of mega-systems. Large health-care systems are growing larger, as seen by the acquisition by the University of Pittsburgh Medical Center (UPMC) of Harrisburg, Pa.-based Pinnacle Health and a joint venture announced between Carolinas HealthCare System and UNC Healthcare System. Both deals involve market leaders in their respective states.
Health-care industry transaction activity “is expected to be super-hot for the rest of the year and beyond,” Herschman, a Bloomberg BNA advisory board member and a member of Epstein Becker & Green PC, in New York and Newark, N.J., said. “A lot goes on after Labor Day.”