Andrew Gitkin

For Corporates
Insights into Healthcare M&A: Q3 2024 Trends
Healthcare M&A activity increased in the third quarter of 2024, with 33 transactions vs. 21 in 2023. Healthcare Services was the most active healthcare subsector, representing 42% of deal volume, with the most notable transaction being TowerBrook’s and CD&R’s $8.3B acquisition of R1 RCM. Biopharma transaction volume increased slightly in the third quarter of 2024, with 10 transactions vs. 9 in 2023, while transaction value declined from $13 billion to $9 billion. Oncology was the most active therapeutic area. We expect Biopharma M&A activity to remain dynamic as large biopharmaceutical companies seek to fill revenue and pipeline gaps via acquisitions of development-stage companies. We continue to expect both private and publicly traded pre-commercial biopharma companies to evaluate the full range of strategic alternatives, including partnerships, mergers and sale transactions. Given an improving macroeconomic backdrop and corresponding capital markets environment, we also expect private development-stage private companies to increasingly evaluate IPOs.
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Andrew Gitkin

Andrew Gitkin is a Senior Managing Director in Investment Banking at Leerink Partners.

Andrew joined the Firm in 2024 from Raymond James & Associates where he most recently served as a Senior Managing Director and Vice Chairman in the healthcare investment banking group. He brings over 25 years of healthcare-focused experience specializing in the biopharma and medical device sectors, including more than 100 transactions across M&A advisory, equity and equity linked financings. Prior to Raymond James, he served as a Managing Director and Head of West Coast Biotechnology at PiperJaffray & Company, and Senior Vice President at Moelis & Company. Andrew’s previous experience also includes roles as a Vice President of Tavistock Life Sciences and leading a biotechnology start-up. He started his career in the Equity Research Departments of SalomonSmithBarney and UBS.

He is a member of the UCLA Health System Board, and he earned his BBA from Emory University.

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