The Importance of Having a Trusted Advisor When Dealing With Complex Healthcare M&A Deals

Intrepid Co-Heads of Healthcare Adam Abramowitz and Jonathan Bluth are honored to accept the Los Angeles Business Journal’s award as “2021’s Trusted Advisors in Healthcare.” As leaders of the eight-person healthcare M&A group at Intrepid, one of the largest and longest-tenured M&A advisory firms in the Western U.S., Adam and Jonathan have helped establish a healthcare ecosystem within Los Angeles and beyond that positions their clients to unlock optimal valuations with ideal partners.

Through networking events and Webinars, branded under the Medicate theme, Adam and Jonathan offer a unique pathway for their clients to prepare for M&A events by routinely bringing together established industry veterans and private equity investors with high-potential emerging executives for collaborative discussions and business development. Despite the unforeseen challenges of the past year, Intrepid’s Healthcare Group successfully guided clients to complete transactions in telehealth, concierge medicine, outsourced pharma services, contract manufacturing, and aesthetics, with more than 10 active engagements underway that span the entire healthcare industry.

Highly Competitive Process for a Coveted Bioanalytical Lab With Untapped Global Potential for Its Proprietary Technology

Intrepid served as the exclusive financial advisor to Mosaic Laboratories, a Lake Forest, Calif.-based provider of bio-analytical testing services for pharmaceutical companies, on its acquisition by Caprion-HistoGeneX (later rebranded as CellCarta), a leading provider of specialized precision medicine laboratory services to the biopharmaceutical industry, and a portfolio company of Arsenal Capital Partners.

Mosaic pioneered proprietary multiplex immunohistochemistry (IHC) methods that provide a superior ability to evaluate multiple biomarkers in a single tissue section and built a reputation among the world’s leading pharmaceutical companies to produce the most vivid IHC biomarker images. Mosaic’s technology enables biopharma companies to better evaluate their drug candidates in a more efficient manner with massive untapped global potential.

Chris Kerfoot, Co-Founder and Managing Member of Mosaic, commented, “Intrepid’s Healthcare team completed an extensive outreach which yielded tremendous interest and helped us thoughtfully navigate the deal process during a complex COVID environment.” Co-Founder and Managing Member Lisa Dauffenbach added, “Intrepid provided expert guidance, advising us at every stage of the journey.”

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Leveraging the Power of Specialized Telehealth for a High-Profile Strategic Combination with Hims & Hers Health, Which Went Public Via a SPAC

Intrepid served as the exclusive financial advisor to Apostrophe, a leading teledermatology platform, on its sale to Hims & Hers Health, Inc. (NYSE: HIMS). Based in Oakland, Calif., Apostrophe is a direct-to-patient teledermatology platform that provides individuals with access to tailored, clinical-quality treatment plans that are prescribed by board-certified dermatologists.

Apostrophe built a specialized telehealth platform and vertically integrated pharmacy solution to address patient needs efficiently and conveniently in a single solution. Hims & Hers is a leading multi-specialty telehealth platform focused on providing modern personalized health and wellness experiences to consumers, which became a public company via a SPAC in early 2021.

Intrepid highlighted the compelling fit between the two telehealth platforms and Apostrophe’s rapid growth trajectory that could be accelerated with Hims & Hers’ vast capital resources. Ben Holber, Co-Founder and CEO of Apostrophe, shared, “The Intrepid team was there for us every step of the way and was a trusted source of advice as we navigated this process.”

Intrepid’s Unique Client Value Add

Adam and Jonathan have deployed a novel process for their clients and prospects to consider possible future M&A events. For several years, Intrepid has hosted a series of carefully curated networking events that bring together established deal professionals from some of the country’s largest healthcare companies, healthcare-focused financial sponsors, and senior executives from the most exciting emerging regional leaders.

Medicate empowers clients and prospects to learn about the M&A process in a safe, trusted environment from industry thought leaders. During the past year, Intrepid pivoted these events from in-person meetings into convenient and intimate virtual discussions. Recent topics included revenue cycle management, opportunities in diagnostics, and private equity investment opportunities post-COVID. Building upon the momentum that these events generate, Intrepid’s entire Healthcare Group is actively advising on multiple physician practice management, behavioral healthcare, diagnostics, and technology transactions for clients across the U.S.