Billions & Healthcare M&A

April 8, 2022

Is it the views of NYC, the glamorous lives of billionaires, or the quick quips throughout the entire script that has made Billions quickly turn into my favorite show since The Sopranos?  When I watch Billions I think about healthcare.  Maybe because I am a healthcare hammer and everything to me is a healthcare nail.  Perhaps it is because of all of the deals and mergers and acquisitions (M&A) happening in our space the last few years.  I think about the vendors that were around when I started with @Advize and now that number has shrunk to less than half.  The vendor space has M&A’d so hard that there is less competition and we all know what that means for the customer.

The Global M&A Industry Trends: 2022 Outlook by PWC shares details around global M&A hits new highs in 2021 by a long shot where the number of deals announced exceeded 62K globally.  Megadeals have also been increasing in volume tremendously while the special purpose acquisition company (SPAC) market is ever evolving.  One of the key themes driving M&A is regulatory scrutiny creating hurdles

Question is, what is a STD?  STD being “sure thing dude” (thanks Billions).  Better yet, in healthcare, what is the STD?  PWC also shares a health specific outlook, where if you search this page for “cost”, “integrity”, “fraud” or “compliance”, you will not have any hits.  Rather, we see healthcare services and pharmaceuticals and life sciences, which is all great but what about reducing the cost of healthcare.  Sure, health tech and analytics are exciting but what about cost containment? 

As we think about M&A in our small bubble of healthcare, we think about the Triangle.  Not the fraud triangle, but rather the quality, speed, cost.  As you know, our obsession is cost of healthcare so what about M&A around the cost of healthcare.  We continue to think about payment integrity and compliance while thinking about cost.  Billions shared the triangle in a charter school setting and it made me very happy to see it explained to children.  Now I would like to see it in the M&A healthcare arena.

By Jeanmarie Loria

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