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Mike Sullivan on How the Pandemic Has Impacted the Healthcare M&A Landscape

Although the economy may have temporarily slowed and M&A activity in the employee benefits and healthcare markets has not been immune to these effects, experts say many setbacks could be temporary.

Forward-thinking leaders should take a holistic approach, making necessary short-term moves for stability and resilience while keeping opportunistic growth on the radar. Over the last few decades, there has been a shift in value propositions for employers to remain competitive. Twenty or thirty years ago, it was about hard work, staying informed and being an effective communicator. While still critical, today's economic climate requires deep investments into technology and platforms that will do more for customers, which will help a business innovate within their field.

OneDigital’s Co-Founder and Chief Growth Officer, Mike Sullivan, delves into how the accelerating pace of mergers in the benefits space will leave a lot of good talent looking for a new home in the BenefitsPRO article, “Eye of the Storm: Talent Spilling Onto the Streets: A Q&A With Mike Sullivan.

There are two converging dynamics. One is very much facilitating consolidation. The other is just friction. When you’re at home for months, you have time to think about the uncertainty going on. If you weren’t looking to sell before, you’re probably at least thinking about it now. Also, are valuations ever going to be as high as they are today? And what is probably a more real pending potential change: Taxes relative to capital gains. A lot of things are creating significant momentum. There’s never been more buyers or more uncertainty in the marketplace. When you’re all sitting in your homes, you can only do so much. We’re going to have an extraordinary year, but it’s largely going to happen at the beginning and end. In the middle is a ton of Zoom calls.”
– Mike Sullivan, Co-Founder and Chief Growth Officer, OneDigital

Read the entire article here. 

To learn more about what the employee benefits agency of the future looks like, tune into the recent Benefits Influencer Podcast with host Dennis Carlson "Benefits Advisors & Brokers: Five Years Out with Mike Sullivan."