Matt Brohm Quoted in PitchBook’s Q3 2023 Healthcare Services Report

AGG Healthcare Private Equity co-chair Matt Brohm was quoted in PitchBook’s Q3 2023 Healthcare Services Report, which details how investors are focusing on smaller deals, existing platform growth, and restructuring deals.

One of the key regulatory developments highlighted in the report pertains to the development of state-level non-compete prohibitions, some of which target physicians, following a federal ban on non-competes proposed in January 2023.

Matt shares that a growing number of states are implementing laws that generally restrict non-competes, while some states, including, Alabama, California, Delaware, Minnesota, New York, North Dakota, Oklahoma, and Texas, are placing a specific emphasis on providers. These rapidly evolving policies may slightly slow lower-middle-market M&A activity in some geographies.

Matt also notes that he is monitoring whether states also begin to crack down on some of the back-door legal alternatives to non-competes, such as liquidated damages, buyout clauses, and forfeiture of rollover equity.

To read the full report, please click here.

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