Jack Bannister

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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Jack Bannister

Jack Bannister is a Senior Managing Director on the Equity Capital Markets team at Leerink Partners. He partners with healthcare and life sciences companies to raise capital and position them for success in the public markets.

Jack joined the Firm in 2021 from Goldman Sachs where he served as Vice President of the Healthcare Equity Capital Markets team. He began his career as an Equity Analyst with T. Rowe Price in Baltimore.

He holds a Bachelor of Arts from the University of North Carolina at Chapel Hill and an MBA from the University of Virginia Darden School of Business.

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