Healthcare Services Valuation Benchmarks: Public Multiples and Private Reality
Care homes, dental groups, clinical services and healthcare staffing all have publicly traded equivalents on the stock market, and those companies publish occupancy, fee rates and margin every reporting period. For a private operator, that is the closest thing to a public price list for the earnings profile buyers are looking for.
What are publicly traded healthcare services companies valued at?
Publicly traded healthcare services companies, meaning those whose shares are bought and sold on a stock exchange, are valued at a median of 13.4x EV/EBITDA, across a range of 5.7x to 37.0x, based on 26 companies whose shares trade on a stock exchange, as at 2026-08-14.
Private companies in the same trades sell for less than this. Stock market valuations reflect scale, the ease of selling shares on again and full public reporting, none of which a private seller carries.
| Median EV/EBITDA | 13.4x |
|---|---|
| Range | 5.7x – 37.0x |
| Constituents | 26 |
Last reviewed August 2026 by Joe Lewin, Founder and Managing Director, DealFlowAgent.
The publicly traded companies in this sector
| Stock exchange | Market cap | As at / source | |||||
|---|---|---|---|---|---|---|---|
LifeStance Health Group, Inc.
Behavioural and mental health services
|
NASDAQ, New York Ticker NASDAQ: LFST · United States
|
$2bn to $10bn | 37.0x | 3.1x | 8.5% | — |
2026-08-14 Investor relations
|
Scientific & Medical Equipment House
Medical equipment service and clinical engineering
|
Stock exchange Ticker Other: 4013 · Saudi Arabia
|
$10bn to $50bn | 25.9x | 6.0x | 23.3% | — |
2026-08-14 Investor relations
|
BrightSpring Health Services, Inc.
Home care and domiciliary care
|
NASDAQ, New York Ticker NASDAQ: BTSG · United States
|
$10bn to $50bn | 23.2x | 1.0x | 4.4% | — |
2026-08-14 Investor relations
|
Teladoc Health, Inc.
Behavioural and mental health services
|
New York Stock Exchange Ticker NYSE: TDOC · United States
|
$500m to $2bn | 23.2x | 0.6x | 2.6% | — |
2026-08-14 Investor relations
|
Chartwell Retirement Residences
Residential and elderly care
|
Toronto Stock Exchange Ticker TSX: CSH.UN · Canada
|
$2bn to $10bn | 22.8x | 8.3x | 36.2% | — |
2026-08-14 Investor relations
|
The Ensign Group, Inc.
Residential and elderly care
|
NASDAQ, New York Ticker NASDAQ: ENSG · United States
|
$10bn to $50bn | 21.3x | 2.3x | 10.6% | — |
2026-08-14 Investor relations
|
Sienna Senior Living Inc.
Residential and elderly care
|
Toronto Stock Exchange Ticker TSX: SIA · Canada
|
$2bn to $10bn | 19.9x | 3.4x | 16.8% | — |
2026-08-14 Investor relations
|
Doximity, Inc.
Telehealth and remote monitoring
|
New York Stock Exchange Ticker NYSE: DOCS · United States
|
$2bn to $10bn | 18.0x | 5.7x | 31.8% | — |
2026-08-14 Investor relations
|
National HealthCare Corporation
Residential and elderly care
|
New York Stock Exchange Ticker NYSE: NHC · United States
|
$2bn to $10bn | 17.5x | 2.1x | 12.2% | — |
2026-08-14 Investor relations
|
Brookdale Senior Living Inc.
Residential and elderly care
|
New York Stock Exchange Ticker NYSE: BKD · United States
|
$2bn to $10bn | 17.5x | 2.8x | 15.8% | — |
2026-08-14 Investor relations
|
Regis Healthcare Limited
Residential and elderly care
|
Australian Securities Exchange Ticker ASX: REG · Australia
|
$500m to $2bn | 14.8x | 1.3x | 8.9% | — |
2026-08-14 Investor relations
|
GoodRx Holdings, Inc.
Telehealth and remote monitoring
|
NASDAQ, New York Ticker NASDAQ: GDRX · United States
|
$500m to $2bn | 13.9x | 1.9x | 13.9% | — |
2026-08-14 Investor relations
|
Clariane SE
Home care and domiciliary care
|
Euronext Ticker Euronext: CLARI.PA · France
|
$10bn to $50bn | 13.6x | 1.6x | 12.0% | — |
2026-08-14 Investor relations
|
Aveanna Healthcare Holdings Inc.
Home care and domiciliary care
|
NASDAQ, New York Ticker NASDAQ: AVAH · United States
|
$2bn to $10bn | 13.2x | 1.6x | 12.0% | — |
2026-08-14 Investor relations
|
Addus HomeCare Corporation
Home care and domiciliary care
|
NASDAQ, New York Ticker NASDAQ: ADUS · United States
|
$2bn to $10bn | 12.8x | 1.4x | 11.3% | — |
2026-08-14 Investor relations
|
Mental Health Technologies Co., Ltd.
Behavioural and mental health services
|
Tokyo Stock Exchange Ticker TSE: 9218.T · Japan
|
Under $500m | 12.6x | 1.4x | 11.4% | — |
2026-08-14 Investor relations
|
Option Care Health, Inc.
Home care and domiciliary care
|
NASDAQ, New York Ticker NASDAQ: OPCH · United States
|
$2bn to $10bn | 11.5x | 0.8x | 7.1% | — |
2026-08-14 Investor relations
|
InfuSystem Holdings, Inc.
Medical equipment service and clinical engineering
|
New York Stock Exchange Ticker NYSE: INFU · United States
|
Under $500m | 11.1x | 1.9x | 16.9% | — |
2026-08-14 Investor relations
|
Sodexo S.A.
Medical equipment service and clinical engineering
|
Euronext Ticker Euronext: SW · France
|
$10bn to $50bn | 11.0x | 0.5x | 4.8% | — |
2026-08-14 Investor relations
|
Acadia Healthcare Company, Inc.
Behavioural and mental health services
|
NASDAQ, New York Ticker NASDAQ: ACHC · United States
|
$2bn to $10bn | 10.3x | 1.6x | 15.9% | — |
2026-08-14 Investor relations
|
RCM Technologies, Inc.
Specialist healthcare staffing
|
NASDAQ, New York Ticker NASDAQ: RCMT · United States
|
Under $500m | 9.7x | 0.8x | 8.4% | — |
2026-08-14 Investor relations
|
Adecco Group AG
Specialist healthcare staffing
|
SIX Swiss Exchange Ticker SIX: ADEN.SW · Switzerland
|
$2bn to $10bn | 9.3x | 0.3x | 3.3% | — |
2026-08-14 Investor relations
|
Kooth plc
Behavioural and mental health services
|
London Stock Exchange Ticker LSE: KOO.L · United Kingdom
|
Under $500m | 7.7x | 0.5x | 6.6% | — |
2026-08-14 Investor relations
|
DLH Holdings Corp.
Specialist healthcare staffing
|
NASDAQ, New York Ticker NASDAQ: DLH · United States
|
$2bn to $10bn | 6.1x | 1.2x | 19.8% | — |
2026-08-14 Investor relations
|
AMN Healthcare Services, Inc.
Specialist healthcare staffing
|
New York Stock Exchange Ticker NYSE: AMN · United States
|
$500m to $2bn | 5.7x | 0.5x | 8.9% | — |
2026-08-14 Investor relations
|
Universal Health Services, Inc.
Behavioural and mental health services
|
New York Stock Exchange Ticker NYSE: UHS · United States
|
$10bn to $50bn | 5.7x | 0.8x | 14.9% | — |
2026-08-14 Investor relations
|
What owners can learn from this
Occupancy and fee mix drive the multiple
Publicly traded care operators report both because both determine the durability of the earnings. Private buyers model them line by line.
Regulatory rating is a hard gate
CQC and equivalent ratings appear in the risk disclosures of publicly traded operators. A poor rating removes buyers rather than reducing the price.
Clinician dependency is the private market's main discount
Publicly traded groups have depth of clinical staffing. A single practitioner business does not, and the gap explains most of the multiple difference.
Freehold property changes the structure, not the trading multiple
The publicly traded set separates property from operations. Private sales should be modelled the same way.
Private pay mix is valued above state funded income
The pricing power is visible in the margin disclosures of publicly traded operators.
Frequently asked questions
What multiple do publicly traded healthcare services companies trade at?
The constituent table on this page shows the reported EV/EBITDA multiple for each publicly traded operator, dated and sourced, with the sector median above it.
What does that mean for a private care home or dental practice?
Private operators transact well below the stock market median. The bridge on this page sets out the discount and reconciles it against our care home and dental practice valuation guides.
Why a private company advisory firm publishes this
DealFlowAgent is a sell-side mergers and acquisitions advisory firm. We act for owners of privately held healthcare services businesses, typically between one million and fifty million pounds of enterprise value, and we run the sale process from preparation through to completion. We do not advise on shares, we do not manage money, and we have no interest in any company named on this page.
These figures are published because they are the only fully disclosed evidence of what buyers pay for this kind of work. They set the ceiling. What a private owner actually achieves is set by the size, contract quality and management depth of their own business, which is what our sector valuation guides and free valuation cover.
Related reading
Citing this data and press contact
Journalists, analysts and researchers are welcome to reproduce these figures with attribution. Every number is a dated snapshot of publicly reported company data, not a forecast or an opinion on any share.
How to cite
"DealFlowAgent, Healthcare Services public market benchmarks, publicly traded comparable library, market values as at 14 August 2026 and earnings evidence to 19 August 2026."
Please link to this page when the figures are quoted. Source documents for each constituent are linked in the table above.
Press contact and commentary
Joe Lewin, Founder of DealFlowAgent, gives commentary on private company valuation, buyer behaviour and consolidation in building services, facilities management and healthcare. Commentary is confined to private M&A. We do not comment on the merits of any listed security.
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