top of page
Image by Volodymyr Hryshchenko

Upcoming Telehealth

We understand the importance of staying up-to-date on industry trends and market changes. That's why we offer our clients the opportunity to sign up for Telehealth industry updates. Our team of experts will keep you informed with the latest news and insights so that you can make informed decisions.

Fundamentals

Size Analysis: The industry's market capitalization stood at $304 billion at the end of the quarter, reflecting an increase over the quarter and a slightly lower valuation relative to 2022 Q1. However, there was a decline in the number of public companies operating in the space, decreasing from 133 to 123. The number of transactions in the industry, as well as the transaction value, increased drastically during the quarter. Notably, activity in the space has been relatively low since 2022 Q1, with transactions typically below $10 billion, except for a peak in 2022 Q4 when it reached $18 billion.

Public Market Dynamics: While the performance of the industry improved during the quarter, it still significantly lagged behind the broader market, although the top 20 companies outperformed. This underperformance relative to the SPY has been consistent since 2021 Q2. The median debt-to-equity ratio declined relative to the last quarter, with a slight decrease in the interest expense-to-revenue ratio. Revenues experienced a slight overall increase during the quarter.

Transaction Trends: A total of 87 transactions occurred in the industry during the quarter, with one IPO announcement. M&A transactions, private placements, and public offerings all experienced slight declines over the quarter. Notably, there were more private placements relative to public offerings.

Dispersion Insights: North America emerged as the major contributor to revenue, followed by Africa and Asia. M&A activity was highest in North America, followed by Asia and Europe. Private placements were highest in North America, followed by Africa while public offerings were highest in North America, followed by Oceania.

Methodology

We screened CapitalIQ using its industry classification and Business Description. Transactions were filtered by announced date within the last 3 years. Companies were filtered by having a public company type. The main industry selected was "Healthcare". The keywords "telehealth", "telemedicine", "digital care" and "telecare*" were used to screen the database. "Telehealth has been kept for only category. The keywords have been used to determine our sectors.

THIS REPORT IS NOT TO BE USED OR CONSIDERED UNDER ANY CIRCUMSTANCE BY ANYONE AS INVESTMENT ADVICE

This research report is for informational and discussion purposes only. Information presented here is not investment advice of any kind to any person and does not constitute a recommendation as to the purchase or sale of any interests or as to any other course of action. General, financial, and statistical information concerning the details of this report and related industry are from sources Spaulding Financial believes to be reliable.

Spaulding Financial has accurately reflected such information in this research report; however, Spaulding Financial makes no representation as to the sources’ accuracy or completeness and has accepted this information without further verification. Neither all nor any part of the content of this report may be conveyed to the public through advertising, public relations, news, sales, mail, direct transmittal, or other media without the prior written consent of Spaulding Financial. Spaulding Financial ’s research is as of the date reported herein.

Spaulding Financial has no affiliation with any of the companies comprising the industry used as a basis for research in this report, nor does Spaulding Financial hold any investments in the companies listed herein. The content of this report may be used, in part, as a basis for any work that Spaulding Financial performs for you in the future at the sole discretion of Spaulding Financial. All data is from Capital IQ database.

bottom of page