DealForge › Pitch Book — MedVista Technologies
01
Cover
02
Situation Overview
03
Preliminary Valuation
04
Comparable Companies
05
Buyer Universe
06
Process Recommendation
07
Credentials
Confidential
MedVista Technologies, Inc.
Sell-Side M&A Advisory
Preliminary Discussion Materials
Preliminary Discussion Materials
Enterprise Value
$1.8B – $2.2B
LTM Revenue
$392M
LTM EBITDA
$78M
Meridian Partners
March 2026 · Strictly Confidential
Comparable Public Companies
Selected surgical robotics and AI-guided medical device peers
| Company | EV ($B) | Rev ($B) | EBITDA ($M) | EV/Rev | EV/EBITDA | Rev Growth | EBITDA % |
|---|---|---|---|---|---|---|---|
| Intuitive Surgical | $158.2 | $7.1 | $2,485 | 22.3x | 63.7x | 14.2% | 35.0% |
| Stryker Corp. | $130.5 | $20.5 | $5,535 | 6.4x | 23.6x | 10.8% | 27.0% |
| Medtronic | $142.8 | $32.4 | $9,720 | 4.4x | 14.7x | 4.2% | 30.0% |
| Boston Scientific | $108.4 | $14.8 | $4,292 | 7.3x | 25.3x | 12.1% | 29.0% |
| Zimmer Biomet | $28.5 | $7.8 | $2,184 | 3.7x | 13.0x | 5.5% | 28.0% |
| Smith & Nephew | $14.8 | $5.5 | $1,155 | 2.7x | 12.8x | 3.8% | 21.0% |
| Median | 5.4x | 19.2x | 8.2% | 28.5% | |||
| MedVista (implied) | $0.4 | $78 | 4.6–5.6x | 23.1–28.2x | 12.2% | 19.9% |
Source: S&P Capital IQ as of March 2026. MedVista implied EV range of $1.8B–$2.2B based on 4.6–5.6x LTM Revenue.
MedVista's higher revenue growth (12.2% vs. 8.2% median) and expanding margins support premium positioning.
Meridian Partners
Page 4 · Strictly Confidential
Situation Overview
MedVista Technologies — Strategic Alternatives Assessment
Company at a Glance
• Founded 2012, San Diego, CA
• AI-guided minimally invasive surgical systems
• 1,850 employees across 4 facilities
• 180+ SurgiVision Pro installations in 28 states
• 47 issued patents, 23 pending
• 340+ hospital customers, 96% retention
• AI-guided minimally invasive surgical systems
• 1,850 employees across 4 facilities
• 180+ SurgiVision Pro installations in 28 states
• 47 issued patents, 23 pending
• 340+ hospital customers, 96% retention
Key Financial Metrics
$392M
LTM Revenue
$78M
LTM EBITDA
12.2%
Rev CAGR
19.9%
EBITDA Margin
Meridian PartnersPage 2Preliminary Valuation Summary
Enterprise value range based on multiple methodologies
Football Field — Implied Enterprise Value ($B)
Trading Comps
$1.6B
$2.2B
Precedent Deals
$1.8B
$2.8B
DCF (WACC 9-11%)
$1.5B
$2.4B
LBO (20-25% IRR)
$1.4B
$1.9B
Recommended Range: $1.8B – $2.2B — Supported by median of trading comps and lower end of precedent transactions. Reflects MedVista's premium growth profile relative to peers.
Meridian PartnersPage 3Preliminary Buyer Universe
15 strategic buyers + 10 financial sponsors identified
Strategic Buyers (Top 5)
1. Medtronic — Fit: 9.2/102. Johnson & Johnson — Fit: 8.8/10
3. Stryker Corporation — Fit: 8.5/10
4. Intuitive Surgical — Fit: 8.3/10
5. Boston Scientific — Fit: 8.0/10
Financial Sponsors (Top 5)
1. Thoma Bravo — Fit: 9.0/102. Warburg Pincus — Fit: 8.5/10
3. EQT Partners — Fit: 8.2/10
4. Welsh Carson — Fit: 8.0/10
5. Hellman & Friedman — Fit: 7.8/10
Meridian PartnersPage 5Process Recommendation
Two-stage competitive auction maximizes value
Recommended Timeline
Phase 1
Weeks 1-6
Preparation
CIM + VDR
CIM + VDR
Phase 2
Weeks 7-14
First Round
IOI Collection
IOI Collection
Phase 3
Weeks 15-22
Second Round
Final Bids
Final Bids
Phase 4
Weeks 23-30
Negotiation
& Closing
& Closing
Meridian PartnersPage 6Relevant Credentials
Meridian Partners — Selected Healthcare & Medtech Transactions
Sell-Side Advisor
NeuralSurge Medical
acquired by Stryker
$890M
2025
Sell-Side Advisor
PrecisionPath Robotics
acquired by Medtronic
$1.4B
2024
Buy-Side Advisor
HealthAI Analytics
acquired by Thoma Bravo portco
$620M
2024
Meridian PartnersPage 7