TPG and AmerisourceBergen announced the acquisition of OneOncology from General Atlantic for $2.1 billion. OneOncology is one of the largest and fastest growing community oncology practice management platforms in the United States with over 900 affiliated providers across 14 states. AmerisourceBergen purchased a 35% minority stake while TPG holds the remaining 65% in the joint venture.
Medical Oncology EBITDA Multiples
On the third anniversary of the deal’s closing (and until the fifth anniversary), TPG has the right to force AmerisourceBergen to buy the remaining 65% of OneOncology at 19x EBITDA. If the option has not been exercised by the fifth anniversary, AmerisourceBergen will then have the right to force the sale on the same terms. Using 19x as a ballpark multiple for the transaction today roughly implies around ~$110 million in EBITDA for OneOncology.
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The Scope Research Healthcare M&A Valuation Database currently has financial details for 217 physician practice deals going back to 2010, 136 of which include reported EBITDA multiples. The physician practice data can be purchased individually, while our affordable annual subscriptions provide access to all of our healthcare M&A databases and segments, updated continuously.
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