Sean Foley

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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Sean Foley

Sean Foley is a Senior Managing Director of Institutional Equities at Leerink Partners.

Sean brings over 25 years of experience and expertise to the sales-trading desk at Leerink Partners. Prior to joining the Firm in 2013, he held similar roles at Fidelity Capital Markets, Bear Stearns, ING, Furman Selz, and Lehman Brothers.

He earned his B.A. from College of the Holy Cross and an MBA from the University of Rhode Island.

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