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Adam Abramowitz

Managing Director, Co-Head of Healthcare & Life Sciences at Intrepid Investment Bankers

Los Angeles, CA

AA
Why they matter

LA-based healthcare banker who just sold a Southern California behavioral health platform to Comvest and sees rollup activity across the sector firsthand.

Background

Adam Abramowitz is a Co-Founder, Managing Director and Co-Head of Healthcare & Life Sciences at Intrepid Investment Bankers, with over 22 years of middle-market investment banking experience. He joined Intrepid as Vice President and Founding Principal in 2010 after roughly a decade executing M&A at Barrington Associates and Wells Fargo Securities, and now leads a healthcare group considered one of the most active in the Western U.S. He holds a BA in Business and Economics from Skidmore College and is a FINRA Registered General Securities and Financial Principal.

Notable deals

  • 2023
    Advised Your Behavioral Health (Clear Recovery Center, New Life House, Neuro Wellness Spa) on its sale to Comvest Partners
  • 2022
    Advised Connetics USA, an international nurse/allied healthcare staffing platform, on its sale to AMN Healthcare Services
  • 2021
    Advised teledermatology platform Apostrophe on its sale to Hims & Hers Health, Inc.
  • 2017
    Led the $1 billion sale of Ambry Genetics, a precision genetic diagnostics firm, to Konica Minolta

Call-prep brief

Background

  • Co-Founder, MD and Co-Head of Healthcare & Life Sciences at Intrepid Investment Bankers (LA); 22+ years in middle-market M&A, prior stints at Barrington Associates and Wells Fargo Securities.
  • Named "Healthcare Trusted Advisor of the Year" and a "Leader of Influence in Investment Banking" by the LA Business Journal.

Current focus

  • Runs sell-side and buy-side M&A across behavioral health, healthcare staffing, diagnostics, and digital health for founder- and PE-backed middle-market companies ($20M–$1B+ deal range).
  • Directly relevant to the behavioral health rollup theme: led the 2023 sale of Your Behavioral Health (mental health/addiction treatment platform with 17 SoCal locations) to Comvest Partners.

What they care about

  • Middle-market healthcare consolidation dynamics — platform-vs-tuck-in strategy, valuation multiples, and which sub-sectors (behavioral health, staffing, diagnostics) are attracting PE capital.
  • Positioning founder-led healthcare businesses for institutional buyers; frequently quoted/publishes on M&A trends (e.g., Intrepid's annual healthcare wrap-up).

Recent moves

  • 2023: Your Behavioral Health → Comvest Partners.
  • 2022: Connetics USA (healthcare staffing) → AMN Healthcare.
  • 2021: Apostrophe (teledermatology) → Hims & Hers Health.

Potential sensitivities

  • As a sell-side advisor, he's contractually aligned with clients, not buyers — expect him to protect deal confidentiality and steer clear of active mandates.
  • May be cautious discussing valuation specifics on live or recent deals; frame questions around market color rather than client specifics.

Questions to ask

  1. What behavioral health sub-verticals (outpatient, residential, MAT, teen/adolescent) are seeing the most buyer demand right now, and why?
  2. What separated Your Behavioral Health as an attractive platform for Comvest versus other regional operators you've evaluated?
  3. How are add-on/tuck-in valuations trending relative to platform deals in behavioral health right now, and what's driving the gap?

Outreach draft

Subject
Behavioral health rollup — quick perspective request
Hi Adam, I lead deal sourcing at a PE firm actively building a behavioral health platform, and your work advising Your Behavioral Health on its sale to Comvest caught our attention — a great example of the kind of regional consolidation we're tracking. We'd value 20 minutes to get your read on where behavioral health M&A is heading: which service lines are attracting the most buyer interest, how valuations are trending for platform versus tuck-in deals, and any operators you think are worth watching. Happy to work around your schedule — would a short call sometime in the next couple of weeks work? Best, [Your Name]

Linked companies

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