Valuation Experience

The transactions below represent a sampling completed by the individuals at Hawke Bay Capital. Additional information is available upon request.

Healthcare Services/IT

Facility Location Deal Summary Hospitals   Acute-care Hospital Ruston, LA Pricing analysis of the hospital for regional buyer   Rehab Hospital McAllen, TX FMV of a rehab facility for an acquisition   Physician-owned Hospital McAllen, TX FMV for partnership buy-ins and a tax valuation   Four Community Hospitals Southern LA FMV for a not-for-profit health system   Acute-care Hospital Brownsville, TX FMV for an acquisition, a purchase price allocation and a facility lease-back analysis   Surgical Hospital Wichita Falls, TX FMV of surgical hospital for potential acquisition   Acute-care Hospital Northern VA Valuation of intangible assets   Surgical Hospital Monroe, LA FMV of surgical hospital for partnership buy-in and buy-outs   Heart Hospital confidential FMV of a hospital department for a proposed specialty hospital Surgery Centers   Ophthalmology Surgery Center Hartford, CT FMV for proposed joint-venture   Hospital Outpatient Department Northern VA FMV for proposed syndication of facility   Multispecialty ASC Austin, TX FMV for partnership buy-ins and buy-outs   Hospital GI Department Seattle, WA FMV for proposed syndication of facility   Multispecialty ASC Gulfport, MS FMV for partnership buy-ins and buy-outs   Orthopedic ASC Bloomington, IL FMV for management disposition of equity   Multispecialty ASC Carson City, NV Fairness opinion on surgery center Imaging Centers   Hospital Imaging Department Charleston, SC FMV for proposed syndication of facility   Hospital Imaging Department Sarasota, FL FMV for proposed syndication of facility   Freestanding Imaging Center Edmond, OK FMV for purchase of physician-owned center by for-profit entity   Imaging Feasibility Analysis Sherman, TX Feasibility analysis of proposed freestanding imaging center of a hospital department and valued a covenant not-to-compete   Mobile PET Sarasota, FL FMV of mobile PET for proposed joint-venture   Multi-modality Imaging Center Jacksonville, FL FMV of a hospital joint-ventured imaging center for partnership transactions Cancer Centers   Cancer Center Joint-Venture Dallas, TX FMV of three contributed business units, facility lease agreement and management agreement for proposed joint-venture   MSO Valuation National FMV of five MSOs for outpatient radiation therapy businesses   Freestanding Radiation Therapy Center San Bernadino, CA FMV of freestanding facility for proposed joint-venture Cath Labs   Freestanding Cath Lab Sarasota, FL FMV of cath lab for proposed joint-venture with health system   Freestanding Cath Lab North Texas FMV of cath lab for proposed joint-venture with for-profit entity   Freestanding Cath Lab Houston, TX FMV of cath lab for proposed joint-venture with health system   Hospital Department Cath Lab Houston, TX FMV of cath lab for proposed joint-venture with physicians Dialysis Centers   Freestanding Dialysis Center Riverside, CA FMV of center for joint-venture transaction   Freestanding Dialysis Center Houston, TX FMV of two dialysis centers in Houston for partnership transactions Other Facilities, Healthcare Service and Lease Agreements   CT Lease Reading, PA FMV opinion of physician CT lease   Imaging Center Management Agreement Jacksonville, FL FMV of imaging center management agreement   Surgery Center Management Agreement Sacramento, CA FMV of two surgery center management agreements   Imaging Center Billing Agreement Jacksonville, FL FMV of imaging center billing agreement   Anesthesia Subsidy Analysis Dallas, TX FMV of anesthesia subsidy agreement between hospital and physician group   Anesthesia Subsidy Analysis Louisville, KY FMV of anesthesia subsidy agreement between hospital and physician group   Wound Care Agreement Little Rock, AR Wound care agreement analysis and FMV opinion of agreement Technology   Healthcare Media Company Dallas, TX Feasibility analysis and financial projections of a healthcare media and marketing company   Software Solutions Company Fremont, California Purchase price allocation of an early-stage software solution company   Enterprise Communications Company Addison, Texas FMV of a call center and private branch exchange (PBX) provider for healthcare companies   Defined Contribution Plan Manager Austin, Texas FMV and stock option valuation of an online 401k outsourcing company

Life Sciences

Indication/Company Focus Location Project Overview Biotechnology   Oncology Boston, MA Oncology   Rare Genetic Disease Product Providence, RI Due diligence valuation of early stage biotechnology company   Hormone Replacement Therapy Confidential Due diligence valuation of product revenue stream for rare genetic disease treatment   Transplant Support Kiryat Matalon, Israel Created a business plan/strategy & determined company valuation to help raise future funding   Oncology Support Kiryat Matalon, Israel Created a business plan/strategy & determined company valuation to help raise future funding   Oncology Boston, MA Created a business plan, determined company valuation, assisted in exiting a strategic partnership exit and raising required capital through other sources   Cardiovascular/ Stem Cell Research Baltimore, MD Created a business plan/strategy & determined company revenue expectations   Oncology South San Francisco, CA Value based pricing analysis for large biotechnology company to optimize product profit   Immunology confidential Created a business plan/strategy & determined company valuation to raise future funding Pharmaceuticals   Oncology Confidential Created a business plan/strategy & determined primary follow-on indications and project valuations   Diabetes Confidential Created a business plan/strategy & determined market expectations, adoption rates, potential follow-on indications and project valuations   Allergy Confidential Market overview and market shift analysis during transition from prescription medications to OTC   Anesthesiology Boston, MA Due diligence valuation of early specialty pharmaceutical company   Cardiovascular Confidential Determined effect of new competition on revenue expectations and product line profit contribution Biomedical Research   Biomedical Research Supplies Company New York, NY Due Diligence Valuation of Large Biomedical Research Supplies Company being spun out from parent company   PCR Alternative Technology New Haven, CT Created a business plan/strategy & determined company valuation to help raise future funding   Tissue Library Lexington, MA Created a business plan/strategy including market segmentation and adoption expectations   DNA Microchips Brussels, Belgium Created a business plan/strategy including value chain analysis, partner identification, product recommendations, and project valuation. Medical Devices   Medical Imaging/ Digital X-Ray Boston, MA Valuation of venture stage medical imaging company underperforming investor expectations and requiring additional funding   Medical Imaging/ Ultrasound New York, NY Valuation of venture stage medical imaging company seeking additional funding   Medical Imaging/ X-Ray Film Chicago, IL Valuation of medical imaging supply company (primarily supplier of x-ray film) as technologies move digital   In Vitro Diagnostics Confidential Internal company valuation analysis under various M&A scenarios   In Vitro Diagnostics Confidential Valuation analysis of large cap In Vitro Diagnostics Company   In Vitro Diagnostics Confidential Strategic recommendations for growth opportunities including defining market unmet needs, evaluating R&D projects, and M&A analysis.   Home Hemodialysis Confidential Strategic recommendations and valuation analysis to raise future funding   Home Hemodialysis Confidential Confidential   Home Hemodialysis Confidential Launch strategy under constrained resources to meet investment expectations and be able to raise more capital for expanded launch after meeting key milestones   Specialized Catheters/ Pleural Effusion Denver, CO Valuation analysis of unique catheterization product designed specifically for pleural effusions   Diabetes Monitoring Confidential Valuation analysis of low cost diabetes monitoring company & risk assessment of non-invasive and continuous technologies   Cardiovascular/ Percutaneous Myocardial Boston, MA Market analysis for potential of PMR product and impact on P&L statement at a go/no-go pre-trial decision   Medical Device Industry Boston, MA Analyzed markets and segmentations, and developed strategies for product pricing and positioning, service structure, research and development planning, and sales and marketing strategy across relevant market segments   Medical Devices/Medical Supplies Confidential Performed due diligence, estimated synergies, and helped streamline integration process for two medical supply companies   Medical Device Industry Boston, MA Analyzed markets and segmentations across medical device industry and recommended and valued key targets with which the company could leverage its core competencies   Medical Device Industry Bucks, England Analyzed markets and segmentations across medical device industry and recommended and valued key targets for the company to pursue for forward integration Drug Delivery   Extended Delivery Technologies Bellevue, WA Created a business plan/strategy including partnership valuation analysis for different molecules and delivery technologies   Extended Delivery Technologies Bellevue, WA Technology value pricing and deal structure valuations and recommendations based on comparables and tailored to company's specific value-add   Glycosylation/ Pegylation Horsham, PA Created a business plan/ corporate strategy including value-add analysis of licensing agreements versus internal drug development.   Novel Inhaled Technology San Carlos, CA Created a business plan/strategy & determined project valuation for internal drug development with novel formulation Other   Platelets Life Extension Technology Braintree, MA Due diligence valuation of technology to extend platelet life between blood draw and use in patients   Information Technology Philadelphia, PA Developed investment strategy for IT focused VC Company looking to expand into healthcare investments   Information Technology Philadelphia, PA Performed due diligence projects for above company on individual identified opportunities   Outpatient Cardiovascular Chain Providence, RI Due diligence valuation of company looking to set up outpatient interventional cardiovascular suites   Medical Education Boston, MA Due diligence valuation of primary care medical education company