Who's been doing more buying lately: nationals or non-nationals?

 - 
04/15/2014

Here's a sneak peak at The Braff Group Insider for the May issue. This graph breaks down M&A activity by the nationals and non-nationals over a 10-year period.

Commentary from The Braf Group:

Based upon proprietary data collected and analyzed by The Braff Group, it is clear that during the peak years of 2004-2005, the nationals accounted for more than half of the HME deal flow. And then the Deficit Reduction Act, which included the oxygen cap, was passed in 2005. Almost immediately, the nationals abruptly and dramatically exited the market. Since then, local and regional providers, as well as rehab, supply, and sleep consolidators, have completely remade the market to the multi-faceted, multi-focused, multi-player environment that exists today.

Here's a specific breakdown of the number of deals by each group:

2004

Nationals: 64

Non-nationals: 35

2005

Nationals: 55

Non-nationals: 44

2006

Nationals: 13

Non-nationals: 49

2007

Nationals: 1

Non-nationals: 50

2008

Nationals: 2

Non-nationals: 37

2009

Nationals: 3

Non-nationals: 50

2010

Nationals: 2

Non-nationals: 56

2011

Nationals: 9

Non-nationals: 62

2012

Nationals: 5

Non-nationals: 101

2013

Nationals: 4

Non-nationals: 54