Bailey & Company Research
Advisory Approach
Bailey & Company is a Nashville-based merchant banking platform specializing in middle-market healthcare and technology companies. Founded on a nearly 20-year track record of institutional M&A advisory, the firm operates with a thesis centered on supporting strong management teams that have built scalable platforms through deep sector expertise, strategic insights, and access to a carefully curated network of industry experts and investors. The firm's approach balances personalization with process rigor, positioning itself as an extension of client companies rather than a transactional advisor. Bailey's senior bankers have deep operational experience, many with backgrounds as former owners, operators, and institutional investors, enabling them to think like entrepreneurs and understand the strategic priorities of middle-market healthcare companies.
Sector Focus and Coverage Areas
Bailey & Company operates across four key healthcare verticals: Healthcare Services, Healthcare IT & Tech-Enabled Services, Payer Services & Technology, and Pharma Services, Medtech & Life Sciences. Within Healthcare Services, the firm has particular expertise in physician practice management, behavioral health platforms, specialty surgical services, infusion therapy providers, and community-based healthcare organizations including FQHCs and health centers. In Healthcare IT, the firm focuses on practice management systems, patient safety and compliance software, revenue cycle solutions, and healthcare analytics platforms. The firm's Payer Services practice covers tech-enabled platforms, membership management solutions, utilization review services, and claims management. Their Pharma Services practice addresses outsourced development, regulatory support, and cost-reduction solutions for pharmaceutical companies.
Transaction Track Record and Deal Activity
Bailey & Company has completed over 200 transactions representing more than $17 billion in transaction value. The firm's recent deal activity spans 2024 and 2025, including major transactions such as: The Surgical Clinic's sale to One Oncology (multispecialty physician practice); SocialClimb's sale to RLDatix (patient satisfaction and reputation management platform); Care Connectors Medical Group recapitalization with Epilog Partners (value-based care platform); Claims Eval's sale to Ethos Risk Services (peer review and utilization review); Burrows Consulting's acquisition by VMG Health (community health and FQHC consulting); PeerLink's acquisition by Emperion (peer review services); Total Infusion Care's acquisition by BioMatrix Infusion Pharmacy (home and ambulatory infusion services); and Performance Health Partners' acquisition by Sentact (healthcare safety and incident management software). Additional transactions include Advanced Orthopaedics, Throtle (healthcare IT), Espyr (payer services), Seaside Healthcare, Smile Design Dentistry, Elevate Eyecare, and OrthoCarolina's diagnostic imaging division. This diverse deal portfolio demonstrates the firm's ability to source, advise, and execute transactions across all four coverage areas and across multiple buyer types including strategic buyers, private equity firms, and recapitalizations.
Process and Investment Banking Services
Bailey & Company provides a comprehensive suite of investment banking services including mergers and acquisitions, equity and debt capital raises, private placements, and financial restructurings. The firm's process is built on three foundational pillars: (1) Relationships—maintained through an extensive network of institutional investors, private equity firms, and key healthcare industry executives; (2) Platform—dedicated banking teams providing customized engagement processes designed to maximize competitive dynamics; and (3) Insight—real-time market intelligence, industry trend analysis, and evolving healthcare dynamics informed by consistent deal activity and proprietary research. Bailey's engagement model emphasizes senior-led involvement, with managing directors actively engaged throughout every transaction to understand client strategic objectives and drive outcomes aligned with business vision.
Competitive Positioning and Market Positioning
Bailey differentiates from larger bulge-bracket firms through deep sector focus, personalized service delivery, and founder/operator perspective. Unlike national banking platforms, Bailey maintains intimate knowledge of middle-market healthcare dynamics, regulatory pressures, and buyer preferences. The firm's merchant banking model allows it to serve as both advisor and investor, providing aligned incentives with clients. The firm has cultivated what it describes as "one of the most diverse networks of industry experts," providing clients with access to operators, healthcare payers, private equity investors, and strategic acquirers beyond what traditional investment banks offer. The team explicitly focuses on companies in the $25M-$250M+ TEV range where relationships and sector knowledge create significant competitive advantages over generalist advisors.
Team Composition and Expertise
Bailey's leadership team includes Jeff Bailey and Jack Bailey, the co-founders and managing directors who have directed the firm's strategic growth over nearly two decades. Tim Scallen, appointed CEO in 2024, brings institutional private equity experience from TT Capital Partners, Norwest Equity Partners, and Sankaty Advisors. The firm significantly expanded in 2024, adding four managing directors (James Castro, James Metcalf, Andrew Hewlett, and Ben Matz) from B. Riley, expanding team headcount by 60% and bringing specialized expertise across healthcare services, healthcare IT, and payer technology segments. Additional managing directors include Russell Bryan, Richard Jacques, Patrick Keavy, Phillip Knotts, Peter Machmeier, Ben Matz, and Stephen Scott. The firm also appointed Rebecca Springer, the former lead healthcare analyst at PitchBook, as Senior Director of Market Development to build thought leadership capabilities. The team has opened offices in Los Angeles and New York (2024) while maintaining Nashville as the firm's operational epicenter.
2025 Market Outlook and Growth Strategy
Bailey's 2024 wrap and 2025 outlook reflects confidence in healthcare M&A expansion, particularly in Healthcare IT, Payer Technology & Services, and Pharma Technology & Services segments. The firm identified four key subsectors for 2025: governance, risk, and compliance (GRC) software; ICHRA (Individual Contribution Health Reimbursement Accounts) administration platforms; SNFist services (skilled nursing facility-focused primary care); and value-based care platforms. The firm entered 2025 with more than 30 active engagements across all four coverage areas, positioning for continued transaction volume growth. The firm also operates strategic investment vehicles alongside its M&A advisory practice, allowing it to provide non-dilutive funding, equity co-investment, and long-term capital partnerships for portfolio companies, differentiating it from traditional advisory firms.