M&A · Healthcare · Services-Health Services
Altaris to acquire Sharecare, Inc.
Announced Jun 21, 2024 · Closed Oct 31, 2024
Deal value$518MEV $419M
Premium85.0%To unaffected price
EV / Adj. EBITDA—1.0x EV / Revenue
ConsiderationAll cash$1.43 per share
Transaction
- Acquirer
- Altaris
- Target
- Sharecare, Inc. (SHCR)
- Buyer type
- Strategic
- Offer price per share
- $1.43
- Enterprise value
- $419M
- Status
- Closed Oct 31, 2024
Deal protections
- Break fee (target pays)
- $17.7M · 3.4%
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- No financing condition
Advisors
- To the acquirer
- Not disclosed
- To the target
- Houlihan Lokey, MTS Health Partners
Sector context · Healthcare
- Comparable deals
- 109 in the prior 24 months
- Premium
- 85.0% vs. 58.0% sector median
- EV / Adj. EBITDA
- Sector median 17.1x
- Break fee
- 3.4% vs. 3.5% sector median
Timeline
- AnnouncedJun 21, 2024
- Proxy filedAug 5, 2024
- Definitive proxySep 17, 2024
- Shareholder voteOct 17, 2024
- ClosedOct 22, 2024
Valuation · fairness opinions
Trading comparablesHoulihan Lokey$1.04$1.82
Trading comparablesHoulihan Lokey$0.97$1.65
Trading comparablesHoulihan Lokey$0.64$0.88
Trading comparablesHoulihan Lokey$1.08$1.60
Discounted cash flowHoulihan Lokey$1.16$1.75
Trading comparablesMTS Health Partners$0.75$1.10
Trading comparablesMTS Health Partners$1.45$2.15
Discounted cash flowMTS Health Partners$1.15$1.75
Discounted cash flowMTS Health Partners$0.75$1.00
Offer $1.43
Implied value per Sharecare, Inc. share by analysis, from Houlihan Lokey and MTS Health Partners · DCF discount rate 11.5%–12.5%.