DrakeStar：2024年上半年欧洲和美国远程医疗报告（英文版）（22页）.pdf

1、“During the COVID-19 pandemic,telemedicine valuations peakeddue to the urgent need for remote healthcare.Currently,valuationsaim to capture the markets potential,which remains fragmentedwith many start-ups emerging.Revenue growth is limited by thenumber of telemedicine consultations the population c

2、an support,sooperators focus on gross margin and profitability.High capitalexpenditureisneededfortechnologicalupdates.Noglobalconsolidator has emerged yet,and M&A activity is mainly tech-driven or for geographic expansions,but transactions remain small”LAWRENCE GIESENPartnerat Drake StarNotes:(1)Dra

3、ke Star telemedicine index gathers public telemedicine companies on a global basis.“Drake Star telemedicine index”is not a fund.The“index”is a number of global public telemedicine companies Drake Star tracks.The full list of companies included in the“index”is available onpage 17.This report is publi

4、shed solely for informational purposes and is not to be construed as an offer to sell or the solicitation of an offer to buyany security.The information herein is based on sources we believe to be reliable but is not guaranteed by us and we assume no liability for its use.Any opinions expressed here

5、in are statements of our judgment on this date and are subject to change without notice.Source:Pitchbook,Capital IQ,Drake Star proprietary research,Fortune Business Insights,Trecento AMTelemedicine M&A activity increased during H1 2024,with 28 dealscompared to 22 in H1 2023 and 20 in H2 2023.In H1 2

6、024,the USrepresented a larger proportion of telemedicine M&A activity,completing20 deals(71%of total deals)compared to 13 deals(60%of total deals)inH1 2023Main rationales for M&A transactions were integrations from externalplayers such as insurance and healthcare companies and product offeringreinf