![Bradley Smith of VERTESS Recognized in Axial’s Top Deals of 2023 Bradley Smith of VERTESS Recognized in Axial’s Top Deals of 2023](https://cdn.pixabay.com/photo/2010/12/13/10/12/belly-2473_960_720.jpg)
FORT WORTH, Texas, June 7, 2024 /PRNewswire/ — VERTESS (http://vertess.com), a leading healthcare mergers and acquisitions (M&A) advisory firm is pleased to announce that Managing Director / Partner Bradley Smith was recognized as M&A advisor for one of Axial’s (http://axial.net) Top 8 Deals of 2023. Axial is a private deal network serving professionals who own, advise, and invest in North American companies. His medical device manufacturing transaction was named the top transaction across the healthcare industry last year and healthcare transactions ranked fifth across all industries making up 9.2% of all transactions closed last year. The other top industries included Industrials (39.9%), Consumer Goods (12.8%), Technology (10.7%), and Business Services (9.8%). According to Axial, the average revenue on healthcare transactions in 2023 was $10.3M and EBITDA was $2.6M while median revenue was $6.4M and median EBITDA was $1.5M. Nominations for the award were sourced from the research and business development teams, who reviewed over 2,000 deals based on multiple criteria, including highest deal flow volume and level of buyer interest generated.
Smith, a Managing Director and Partner at VERTESS, provided sell side representation for a Medical Device Manufacturer. The transaction took 12 months from signing to close and ultimately sold for $55M, at a multiple of almost 11x EBITDA. He shares, “We decided to get a seller’s QofE in the middle of the process, which added a few extra months. The multiple was higher than it should have been due to the owner’s tenacity. It started off at a 10x and increased from there as a result of his pushing the seller. It also helped that the company kept growing at an impressive rate.” This deal yielded 215 buyer matches, 57 total pursuits, and a pursuit rate of 26.51% on the Axial platform.
For more information, please contact Vaughne Glennie at [email protected] or +1.520.395.0244.
About VERTESS
VERTESS is an international healthcare-focused Mergers & Acquisitions (M&A) advisory firm with expertise spanning diverse healthcare and human service verticals, ranging from behavioral health and intellectual/developmental disabilities to DME, pharmacies, home care/hospice, urgent care, life sciences, and other specialized services and products. Each VERTESS Managing Director has had executive experience in either launching or managing and ultimately successfully exiting a healthcare company.
SOURCE Vertess Healthcare Advisors
Originally published at https://www.prnewswire.com/news-releases/bradley-smith-of-vertess-recognized-in-axials-top-deals-of-2023-302166809.html
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