PitchBook：2025年一季度医疗保健服务公共报表和估值指南报告（英文版）

Sector multiples converge: Over the past few years, enterprise value (EV)/sales and EV/EBITDA multiples have steadily declined across the healthcare services sector. Further, the valuation gap has narrowed between previously highly valued subsectors such as value-based care and behavioral health, home-based care & pharmacy, with both now trading in line with broader sector averages. Overall, average EV/EBITDA multiples for the sector have compressed into a relatively narrow range of 8x to