Perspectives -- a quarterly recap of health care services merger and acquisition activity

• Q3 2012
  Third Quarter Deal Volume Rises 13.6% - pharmacy services and home medical equipment lead the way
• Q2 2012
  After record breaking start, 2nd quarter deal volume falls 31%.  Is this the calm before the tax storm?
• Q2 2012: Home Health and Hospice
  Mid Year Home Health and Hospice Deal Volume Down 10% vs. 2011
• Q1 2012
  First quarter deal volume up slightly on surge in Home Medical Equipment
• Q4 2011
  Deal volume falls 5.6% in 2011 as home health plunges and behavioral health soars
• Q3 2011
  Third Quarter Transaction Volume Falls 11.4%
• Q2 2011
  Health Care Service M&A Activity Plunges 15% vs. Q1
  
• Q1 2011
  2011 First Quarter Perspectives, Health Care Service M&A Activity up 9.2%
  
• Q4 2010
  In a year of so much uncertainty, health care service M&A was up slightly versus 2009
  
• Q4 2009
  In a challenging Year, 2009 M&A Volume Down only 5.6%,
  2010 Well Positioned for a Surge in Activity
• Q3 2009
  M&A Rebound Continues as Third Quarter
  Deal Volume up 12% Over Q2
  Highest Level Since the Second Quarter of 2006
• Q2 2009
  Second Quarter 2009 Deal Volume up 33% over Q1
  Mid-Year Volume Down 29% versus Last Year
• Q4 2008
  Fourth Quarter Deal Volume Plunges 27% Amidst Decline, Home Health Posts Record Number of Deals in 2008
• Q3 2008
  Third Quarter Transaction Volume Down 23% with only Specialty Pharmacy Posting Gains
• Q2 2008
  M&A Mid-Year Update
• Q4 2007
  2007 Year End Review
• Q3 2007
  Third Quarter Transaction Volume Falls 7.4%
  Infusion Therapy Sector Surpasses 2006
• Q1 2007
  Home Health, Hospice, and Infusion Therapy Post Gains:  Aggregate Deal Volume Declines
• Q4 2006
  2006 Year End Review
• Q3 2006
  Industry Spotlight: Private and State Funded Home Care
• Q2 2006
  Industry Spotlight: Medicare Certified Home Health Valuation Trends
• Q1 2006
  Transaction Volume Declines 35% to its Lowest Level in Four Years
• Q3 2005
  Industry Spotlight: Home Medical Equipment
• Q2 2005
  Industry Spotlight: Health Care Staffing
• Q1 2005
  Industry Spotlight: Non-Medicare Home Health
• Q3 2004
  Industry Spotlight: Hospice
• Q2 2004
  Industry Spotlight: Infusion Therapy & Specialty Pharmacy
• Q1 2004
  Industry Spotlight: Medicare Certified Home Health Care

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