MYD Capital Partners advises healthcare and life sciences companies with €50M–€500M in annual revenue on selling, buying, raising capital, forming partnerships and preparing for a transaction. Our work spans hospitals and care providers, pharmaceuticals, biotechnology, digital health, longevity and medical technology.
Healthcare is the sector where regulatory standing and reimbursement position are examined before economics. An acquirer will form a view on licensing, clinical governance, payer relationships and compliance history before they engage seriously with the financial model, because those are the things that determine whether the earnings are repeatable.
Where we focus
- Hospitals and care providers. Acute, specialty and elective providers, valued on payer mix, case mix, capacity utilization and clinical governance record.
- Diagnostics and laboratory services. Laboratory networks and diagnostic providers, where accreditation, throughput and referral relationships drive value.
- Pharmaceuticals. Generic, branded and specialty manufacturers, valued on registration portfolio, manufacturing compliance and product lifecycle position.
- Biotechnology. Development-stage and commercializing companies, where the asset is the pipeline and the diligence is the data.
- Medical technology. Devices and equipment, valued on regulatory clearances, clinical evidence and installed base.
- Digital health. Clinical software, telemedicine and care management platforms, where the software questions and the healthcare questions both apply.
- Longevity and preventive health. Clinics and platforms in preventive, functional and longevity medicine, a category attracting substantial private capital.
What buyers and investors look for
Regulatory standing first: licences current in every jurisdiction of operation, manufacturing sites in good standing with the relevant authority, inspection history clean or with findings closed, and product registrations complete and transferable.
Then reimbursement and payer position. Contracted rates, payer mix, contract tenor and the exposure to a tariff or coverage decision outside the company's control. In provider businesses this is frequently the single largest determinant of value, and it is rarely presented with the clarity an acquirer needs.
Counterparties also examine clinical governance and quality outcomes, with incident history documented rather than summarized; physician and clinician retention, including whether the relationships that generate referrals are institutional or personal; data protection compliance, which in this sector carries consequences beyond the ordinary; and, in device and pharmaceutical businesses, the scope and transferability of clinical evidence.
What lowers valuation
Regulatory findings that remain open. Manufacturing sites with inspection history that has not been fully remediated. Product registrations held in a name or entity that complicates transfer.
On the commercial side: reimbursement concentrated in a single payer or a single tariff line; referral relationships that belong to an individual clinician rather than the institution; clinician contracts without meaningful notice or non-compete provisions in a market where replacement is slow.
In biotechnology: a pipeline valued on an optimistic probability of technical success; data that has not been independently reviewed; and intellectual property with gaps in the patent estate or freedom-to-operate questions that have not been answered.
Across all subsectors: patient data handling that would not withstand scrutiny, and clinical incident history that is discovered rather than disclosed.
Cross-border interest
Healthcare attracts strategic acquirers seeking geographic footprint or capability, private equity building provider and services platforms, and — in life sciences — pharmaceutical and device companies acquiring pipeline, manufacturing capacity or registration portfolios.
Cross-border processes carry sector-specific constraints: licences and registrations are jurisdiction-specific and not always transferable; clinical evidence accepted in one regulatory regime may require supplementation in another; and healthcare ownership is subject to foreign investment restrictions in a number of markets. Each of these narrows the counterparty universe in ways that should be established at Phase Zero rather than in diligence.
Preparing for a transaction
A structured readiness process, aligned with The Goldsmith™, typically covers:
- Licence register covering every jurisdiction and facility, with renewal dates
- Regulatory inspection history with all findings and their remediation status
- Product registration portfolio with transferability assessed
- Manufacturing compliance documentation to the applicable standard
- Payer contract register with rates, tenor, renewal terms and concentration quantified
- Payer and case mix analysis with the exposure to tariff change identified
- Clinical governance framework and quality outcome data
- Clinical incident and complaint history, documented in full
- Clinician and physician contracts with notice, retention and restrictive covenants
- Referral source analysis distinguishing institutional from personal relationships
- Patient data protection compliance mapped by jurisdiction
- Clinical evidence portfolio with scope and transferability, for device and pharmaceutical businesses
- Intellectual property estate with freedom-to-operate analysis, for life sciences
- Capacity utilization and capital expenditure requirements, for provider businesses
Our Readiness Assessment benchmarks healthcare companies against these dimensions before a process begins.
How we work with healthcare and life sciences companies
Most engagements begin with The Goldsmith™, and in this sector the preparation work is unusually consequential. Regulatory and clinical documentation that is assembled under diligence pressure is assembled badly, and the findings that emerge late are the ones that reprice or end processes. Preparing the licence register, the inspection remediation record and the payer analysis in advance is the difference between a process that proceeds and one that stalls in week six.
The Confluence™ then builds and scores the counterparty universe — strategic acquirers, healthcare platforms, specialist funds — with jurisdictional and ownership constraints applied from the start. Where the objective is a licensing arrangement, a distribution partnership or a co-development structure rather than a sale, The Polarity™ is the right mandate.
Frequently asked questions
How much does an open regulatory finding affect a transaction?
Considerably, and disproportionately to its underlying seriousness. An open finding signals unresolved risk of unknown size, and acquirers price unknowns defensively. A closed finding with documented remediation frequently has no effect at all.
Our referrals come through our senior clinicians. Is that a problem?
It is the most common value risk in provider businesses. An acquirer is buying the referral flow, and if it belongs to individuals who can leave, the retention arrangements become central to the structure. It is addressable, but not quickly, which is why it belongs in readiness work.
How is a biotech pipeline valued when nothing is approved?
On risk-adjusted probability by stage, supported by data an independent reviewer can assess. The valuation conversation is really a data conversation, and preparation means having the data package ready for that scrutiny rather than assembling it under it.
Can healthcare licences transfer to a foreign acquirer?
It varies by jurisdiction, and in several markets healthcare ownership is restricted or subject to approval. Establishing this at the start determines which counterparties can realistically transact and how long the process will take.