What did Strata Critical Medical, Inc. pay for Keystone Perfusion Services?

Strata Critical Medical, Inc. acquired Keystone Perfusion Services for $128.8M in 2025 (9.9x EBITDA), equivalent to 2.00x revenue. Target revenue was approximately $65.0M. Target EBITDA was approximately $13.0M.

What does Keystone Perfusion Services do?

Keystone Perfusion Services is a healthcare staffing business.

What multiple did Strata Critical Medical, Inc. pay for Keystone Perfusion Services?

9.9x EBITDA and 2.00x revenue, based on disclosed deal value of $128.8M and disclosed financials.

M&A TRANSACTION · 2025

Keystone Perfusion Services acquired by Strata Critical Medical, Inc.

$128.8M· 9.9x EBITDA· 2.00x revenue

Target

Keystone Perfusion Services

Acquirer

Strata Critical Medical, Inc.

Strategic buyer

Disclosed financials at time of acquisition

Revenue

$65.0M

EBITDA

$13.0M

Deal Value

$128.8M

EV/EBITDA

9.9x

Context

This $128.8M acquisition of Keystone Perfusion Services by Strata Critical Medical, Inc. sits in the healthcare staffing sub-vertical. The 9.9x EBITDA multiple paid in 2025 can be compared against the population median for healthcare staffing transactions of similar size on our Healthcare Staffing valuation hub. Strata Critical Medical, Inc. is acquiring as a strategic buyer; see how strategic acquirers typically price healthcare staffing businesses on our Healthcare Staffing strategic buyer-pool page.

Source

Data sourced from Press release. All figures reflect disclosed values at the time of the acquisition; no estimated or imputed data. Methodology

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Citation: ExitValue.ai. (2025). Keystone Perfusion Services acquired by Strata Critical Medical, Inc.. https://exitvalue.ai/deals/keystone-perfusion-services-acquired-by-strata-critical-medical-inc-hc-2025-0006