In this episode of Driving the Deal, host Brian Fortune, Senior Managing Director at Farragut Square Group, is joined by Dudley Baker and Luiz Greca, Managing Directors in Houlihan Lokey's Healthcare Group and co-leads of the firm's Healthcare Technology (HCIT) practice.

Framed around where AI is productive, disruptive, and overhyped, the conversation explores how AI is driving efficiencies across administrative workflows, revenue cycle management, and payer operations, while also becoming a key diligence and valuation consideration in nearly every deal.

The group also discusses where disruption is happening today, the importance of systems of record like EMRs, and why much of the broader AI narrative in healthcare remains overstated.

In this episode of Driving the Deal, host Brian Fortune, Senior Managing Director at Farragut Square Group, unpacks McDermott Will & Schulte's HPE Miami 2026 Conference, with Scott Kremeier, Managing Director at Piper Sandler. Together, they discuss what they saw on the ground in Miami and what it means for the rest of 2026.

They dive into:

• A noticeable shift in investor sentiment
• Rising pitch activity and a steady return of deals to market
• Renewed interest in healthcare services after a quieter stretch
• Why middle-market activity is leading the rebound
• How AI is driving efficiency

From valuation resets to capital deployment pressures, the episode highlights why the market may be entering a new, more active phase.

In this episode of Driving the Deal, host Brian Fortune, Senior Managing Director at Farragut Square Group, welcomes L.A. Galyon IV, Managing Partner, and Burk Lindsey, Managing Director, of Brentwood Capital Advisors to explore where healthcare M&A activity is gaining real traction.

They dive into the sectors driving momentum, particularly behavioral health and post-acute care, and unpack why supply-demand imbalances, evolving care models, and labor dynamics are shaping investment decisions. The conversation also touches on trends in outpatient care, hybrid delivery models, and how investors are approaching growth in still-developing segments of the market.

On this episode of Driving the Deal, host Brian Fortune, Senior Managing Director at Farragut Square Group, speaks with Martha Lawrence, CEO and Co-Founder of AccendoWave, a machine learning healthcare technology company focused on objectively measuring and managing pain.

They discuss how brainwave-based data can transform pain measurement, address bias in care, and create new opportunities across healthcare, from hospitals and cancer care to workers' compensation and women's health. The conversation also explores how objective pain data could impact providers, payers, and healthcare investors.

In this episode of Driving the Deal, host Brian Fortune, Senior Managing Director at Farragut Square Group, speaks with Todd Rudsenske, Managing Director at Cain Brothers, about emerging trends shaping the behavioral health market. Behavioral health has been a major focus for investors for more than a decade, but the sector is entering a new phase.

They discuss the rise of digital mental health tools, increasing provider specialization, evolving payment models, and how technology and traditional providers may converge in the next wave of behavioral health M&A.

In this episode of Driving the Deal, Brian Fortune, Senior Managing Director at Farragut Square Group, welcomes Hector Torres, Managing Director of DC Advisory's global healthcare team, for a conversation on the evolving healthcare M&A landscape. Drawing on more than two decades of healthcare investment banking experience, Hector shares insights into current investor sentiment, the state of deal activity, and the macro factors shaping healthcare services and related sectors. The discussion also explores how strategic buyers and private equity investors are approaching deployment, scale, and opportunity in a shifting market environment.

Note: This conversation was recorded toward the end of 2025.

In this episode of Driving the Deal, Brian Fortune, Senior Managing Director at Farragut Square Group, sits down with Rebecca Springer, Director of Market Development at Bailey & Company, to discuss the rapid rise of Individual Coverage Health Reimbursement Arrangements (ICHRAs).

They break down how ICHRAs work, why adoption is accelerating across employers of all sizes, and what the model means for healthcare costs, employee choice, and benefits strategy. The conversation also explores the expanding ICHRA ecosystem, including administrators, brokers, carriers, and HR platforms, and why the space is increasingly on the radar of private equity investors. Finally, Rebecca provides an update on recent policy and market developments, including ACA subsidy changes, state-level activity, and what these shifts could mean for ICHRA growth in the year ahead.

This podcast was recorded and is for informational purposes only. By accessing this podcast, you acknowledge that Bailey & Co. makes no warranty, guarantee, or representation as to the accuracy or sufficiency of the information featured. The views, information, or opinions expressed during this podcast series are solely those of the individuals involved and do not necessarily reflect those of Bailey & Co. This podcast should not be used as a substitute for competent investment advice from a licensed professional in your state and should not be construed as an offer to make or consider any investment or course of action.