Macquarie Capital launches coverage of Healthcare Services sector in the Americas
New York, 17 May 2018
Robert “Bo” Crowell joins to lead Healthcare Services in the Americas
● Will provide advisory, capital markets and principal investing solutions
● Fast-growing sector with significant interest from financial sponsors
Macquarie Capital, the corporate advisory, capital markets and principal investment arm of Macquarie Group, today announced the appointment of Robert “Bo” Crowell as a Managing Director to lead healthcare services coverage in the Americas.
Mr. Crowell joins Macquarie Capital from UBS, where he was a Managing Director and advised and executed on more than $25 billion of merger and acquisition and capital raising transactions for healthcare services companies. He has over 17 years of strategic advisory experience. Before UBS, he held senior roles in healthcare investment banking at Citigroup Global Markets and Credit Suisse.
Transaction activity in healthcare services has increased dramatically due to several sector tailwinds including technology disruption, innovative new business models, vertical integration, regulatory and reimbursement changes, consumerism in healthcare and favorable demographics. Mr. Crowell will work to capitalize on these trends and advance Macquarie Capital as a market leading advisor and underwriter for healthcare services and technology-enabled healthcare companies.
“Bo brings to Macquarie Capital deep and diverse advisory experience for healthcare services companies and possesses both the industry insight and relationships to build and lead our business in the Americas” said Michael Silverton, Head of Macquarie Capital Americas. “Expanding our expertise to incorporate healthcare services builds on our strong track record of advising service industries and gives us a presence in the largest market for healthcare services.”
Mr. Crowell will focus on mergers and acquisitions, debt and equity capital raisings and providing customized solutions to clients that may incorporate Macquarie Capital’s principal investing capability. His past transactions include: the acquisition of Coventry by Aetna, sale of Health Plan Services to Wipro, the sale of ATI Physical Therapy to Advent International and financing for Hellman & Friedman’s acquisition of Multiplan Inc.
Mr. Crowell’s hiring follows the appointment of Julian Feneley, who joined Macquarie Capital in London last year. They will complement Macquarie Capital’s healthcare activities in Australia, Germany and Asia. Mr. Crowell will also work closely with Macquarie Capital sector teams in technology, services and insurance, to both serve broad client needs across the healthcare sector and to leverage the deep expertise that Macquarie has established in these areas.
Macquarie Capital has advised a range of healthcare and healthcare-related clients in the technology and insurance industries. The firm advised Centerbridge Partners on its acquisition of Superior Vision Corporation, was a joint bookrunner on the $1.7 billion financing in KKR’s acquisition of WebMD Health Corp, was a principal co-investor in Summit Partners’ acquisition of HealthSun Health Plans, China Resources’ investment in GenesisCare and is an investor in several healthcare companies, including Vision Group Holdings and Compassus.
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About Macquarie Group
Macquarie Group (Macquarie) is a global provider of banking, financial, advisory, investment and funds management services. Founded in 1969, Macquarie employs more than 14,400 people in over 25 countries. At March 31 2018, Macquarie had assets under management of $381.8 billion. For more information, visit www.macquarie.com.
About Macquarie Capital
Macquarie Capital combines grounded thinking with innovative approaches to develop transformative ideas and realize greater possibilities for our clients - our partners. We look beyond convention to connect our clients with ideas and opportunities others don’t see, while our global platform, specialized expertise and comprehensive services allow us to deliver what others can’t.
Our capabilities encompass corporate advisory and a full spectrum of capital solutions, including capital raising services from equity, debt and private capital markets and principal investments from Macquarie’s own balance sheet. These offerings are reinforced through our deep sector expertise in aerospace, defense and government services, consumer, gaming and leisure, financial institutions, infrastructure and energy, real estate, resources, services, telecommunications, media and technology sectors across the US with 402 transactions completed, valued at $264 billion in the year to 31 March 2018.