Long-term care M&A activity strong in 2003
Merger and acquisition activity in long-term care rose 38% in 2003 compared with 2002, according to Irving Levin Associates. The sector recorded 20 deals in the fourth quarter 2003 and 25 deals in the third quarter.
"Long-term care was the only services sector posting any real growth," the New Canaan, CT-research firm noted.
Dealmaking activity declined 16.1% in 2003 in healthcare overall.
A total of $93 billion was spent to finance 906 deals in 2003, compared with $101 billion for 945 deals in 2002, the report said.
"With a relatively upbeat stock market, low interest rates and continued economic growth, we can anticipate a strong M&A market again in 2004," forecasted Stephen M. Monroe, vice president at Irving Levin.