What did DFB Healthcare Acquisitions Corp. pay for AdaptHealth?

DFB Healthcare Acquisitions Corp. acquired AdaptHealth for $1.04B in 2019 (8.0x EBITDA), equivalent to 2.00x revenue. Target revenue was approximately $521.8M. Target EBITDA was approximately $130.5M.

What does AdaptHealth do?

AdaptHealth is a durable medical equipment business.

What multiple did DFB Healthcare Acquisitions Corp. pay for AdaptHealth?

8.0x EBITDA and 2.00x revenue, based on disclosed deal value of $1.04B and disclosed financials.

M&A TRANSACTION · 2019

AdaptHealth acquired by DFB Healthcare Acquisitions Corp.

$1.04B· 8.0x EBITDA· 2.00x revenue

Target

AdaptHealth

Acquirer

DFB Healthcare Acquisitions Corp.

Disclosed financials at time of acquisition

Revenue

$521.8M

EBITDA

$130.5M

Deal Value

$1.04B

EV/EBITDA

8.0x

Context

This $1.04B acquisition of AdaptHealth by DFB Healthcare Acquisitions Corp. sits in the durable medical equipment sub-vertical. The 8.0x EBITDA multiple paid in 2019 can be compared against the population median for durable medical equipment transactions of similar size on our Durable Medical Equipment valuation hub.

Source

Data sourced from Press reporting, SEC filings, and fairness opinion. All figures reflect disclosed values at the time of the acquisition; no estimated or imputed data. Methodology

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Citation: ExitValue.ai. (2019). AdaptHealth acquired by DFB Healthcare Acquisitions Corp.. https://exitvalue.ai/deals/adapthealth-acquired-by-dfb-healthcare-acquisitions-corp-hc-2019-0145