Corpus Intelligence Leverage Intelligence 2026-04-26 00:40 UTC
Leverage Intelligence
47 direct + 146 proxied · avg direct leverage 52.0% · ρ(lev,MOIC)=-0.24 · optimal: Low
🛡️ Public data only — no PHI permitted on this instance.
Direct Leverage Data
47
explicit leverage_pct
Proxied (EV/EBITDA)
146
estimated from EV/EBITDA
Avg Leverage (direct)
52.0%
direct-data deals
Lev↔MOIC Corr
-0.24
inverse — Spearman ρ
Optimal Bucket
Low
highest P50 MOIC
193 deals — direct data + EV/EBITDA proxy
Leverage Distribution — 193 deals
0%20%40%60%80%
Blue = direct leverage_pct · Dark = EV/EBITDA proxy · x-axis = leverage % in 5pp buckets
Leverage % vs Realized MOIC (ρ=-0.24)
30%45%60%70%85%1x2x3x4xAdvanced Dermatology / L Catterton · lev 54% · 3.20x (proxy)SurgCenter Development / Warburg Pincus · lev 53% · 3.80x (proxy)Quorum Health / Bankruptcy Acquisition · lev 48% · 0.70x (proxy)InnovaCare Health / TPG · lev 49% · 2.80x (proxy)Elara Caring / BPEA · lev 45% · 2.10x (proxy)Surgery Partners / H.I.G. Capital Exit · lev 54% · 3.50x (proxy)Greenway Health / Vista Equity · lev 55% · 2.80x (proxy)Centurion Health / Wexford Health Merger · lev 55% · 2.40x (proxy)BioScrip / Option Care (Merger) · lev 38% · 3.10x (proxy)Consulate Health Care / Restructuring · lev 45% · 0.60x (proxy)Ciox Health / Datavant Merger · lev 24% · 8.00x (proxy)Rural Metro / KKR Exit to AMR · lev 51% · 2.20x (proxy)Behavioral Health Group / Shore Capital · lev 55% · 4.20x (proxy)TeamHealth / Blackstone Secondary · lev 47% · 2.50x (proxy)AdaptHealth / Goldman Sachs BDC · lev 47% · 2.00x (proxy)AMSURG / Envision Healthcare Merger · lev 36% · 0.50x (proxy)Healogics / Arsenal Capital · lev 48% · 2.90x (proxy)NVA (National Veterinary Associates) / J · lev 45% · 3.00x (proxy)CCRM / Weinberg Capital · lev 54% · 3.50x (proxy)InVivo Therapeutics / PACE Acquisition · lev 48% · 2.80x (proxy)Hanger Clinic / Welsh Carson Buyout · lev 48% · 2.10x (proxy)Genesis HealthCare / Formation Capital · lev 44% · 0.40x (proxy)US Oncology / McKesson Acquisition · lev 50% · 3.20x (proxy)PharMerica / KKR Acquisition · lev 51% · 2.70x (proxy)Healthcare Fund LP Secondary / Lexington · lev 55% · 2.30x (proxy)Rotech Healthcare / PE Recapitalization · lev 54% · 2.50x (proxy)Concentra / Humana Acquisition · lev 50% · 3.10x (proxy)Privia Health / General Atlantic · lev 45% · 5.50x (proxy)NextCare Urgent Care / Wellspring Capita · lev 52% · 3.00x (proxy)PPD (Pharmaceutical Product Development) · lev 47% · 5.50x (proxy)Pyramid Healthcare / Warburg Pincus · lev 55% · 3.10x (proxy)Select Medical / Welsh Carson · lev 50% · 4.20x (proxy)GoHealth / Centerbridge Partners · lev 55% · 1.30x (proxy)RegionalCare Hospital Partners / LifePoi · lev 48% · 2.50x (proxy)IPC Healthcare / TeamHealth Acquisition · lev 49% · 2.20x (proxy)Kindred at Home Hospice & Home Health Ca · lev 51% · 3.40x (proxy)Behavioral Health Group (BHG) LBO · lev 55% · 4.60x (proxy)Smile Brands Dental Group Recapitalizati · lev 48% · 1.20x (proxy)US Renal Care Dialysis LBO · lev 55% · 3.10x (proxy)RadNet Radiology Take-Private · lev 55% · 0.70x (proxy)Acadia Healthcare Behavioral Health IPO · lev 43% · 8.20x (proxy)Envision Healthcare Physician Staffing M · lev 44% · 0.10x (proxy)Greenway Health RCM / EHR Platform LBO · lev 38% · 2.30x (proxy)National Veterinary Associates Add-On to · lev 32% · 3.80x (proxy)Surgery Partners ASC Rollup LBO · lev 54% · 4.10x (proxy)Genoptix Oncology Diagnostics Carve-Out · lev 55% · 2.00x (proxy)BrightSpring Health Services Home & Comm · lev 55% · 2.60x (proxy)Integrated Oncology Network Add-On · lev 55% · 3.30x (proxy)Comfort Systems / Rotech Healthcare DME · lev 55% · 0.80x (proxy)Aspirion Health RCM Distressed Debt-to-E · lev 55% · 4.40x (proxy)TeamHealth Physician Staffing Take-Priva · lev 38% · 1.10x (proxy)CarepathRx Specialty Pharmacy Joint Vent · lev 45% · 3.00x (proxy)Lifepoint Health LTACH / Rehabilitation · lev 55% · 2.20x (proxy)Women's Care Enterprises OB/GYN Rollup · lev 55% · 5.10x (proxy)Kindred Healthcare / TPG + Humana LBO · lev 55% · 2.60x (proxy)Behavioral Health Group / Frontenac add- · lev 55% · 3.40x (proxy)National Mentor / Centerbridge LBO · lev 55% · 2.80x (proxy)US Renal Care / Summit Partners LBO · lev 55% · 3.00x (proxy)TridentCare / Gridiron Capital LBO · lev 46% · 3.50x (proxy)US Acute Care Solutions / Welsh Carson L · lev 50% · 2.30x (proxy)Apria Healthcare / Blackstone take-priva · lev 55% · 3.30x (proxy)Dental Care Alliance / Harvest Partners · lev 52% · 3.10x (proxy)Matrix Medical Network / Frazier Healthc · lev 48% · 4.00x (proxy)American Vision Partners / Arizona Eye C · lev 55% · 4.20x (proxy)Steward Health Care / Cerberus Capital L · lev 55% · 0.40x (proxy)PhyAmerica Physician Group / Merit Healt · lev 55% · 2.80x (proxy)Surgical Care Affiliates / United Surgic · lev 43% · 3.80x (proxy)Greenway Health / Vista Equity take-priv · lev 30% · 2.30x (proxy)InfuSystem / ABRY Partners LBO · lev 55% · 2.60x (proxy)Interim HealthCare / Caring Brands Inter · lev 55% · 2.40x (proxy)Envision Physician Services / AmSurg / A · lev 40% · 0.50x (proxy)Netsmart Technologies / GI Partners LBO · lev 38% · 3.20x (proxy)IntelliSource / Cotiviti merger (Connect · lev 33% · 4.80x (proxy)National Imaging Associates / Magellan H · lev 50% · 2.20x (proxy)Carecore National / AIM Specialty Health · lev 30% · 5.00x (proxy)Gentiva Health Services / Kindred at Hom · lev 46% · 2.50x (proxy)American Renal Associates / Centerbridge · lev 55% · 2.20x (proxy)US Physical Therapy / Kelso & Company ad · lev 43% · 1.60x (proxy)Acadia Healthcare / Waud Capital LBO · lev 55% · 8.20x (proxy)ModivCare (Providence Service) / Coliseu · lev 55% · 2.80x (proxy)Lifespace Communities / Ryan Companies s · lev 46% · 2.10x (proxy)LabCorp / Covance CRO integration · lev 43% · 2.80x (proxy)DaVita Medical Group / Optum carve-out ( · lev 24% · 3.50x (proxy)MedQuist / Nuance Communications health · lev 55% · 2.50x (proxy)CONMED Corporation / Gyrus Medical acqui · lev 38% · 2.60x (proxy)EXL Health / Outsourced RCM division gro · lev 33% · 3.20x (proxy)Advanced ICU Care / WindRose Health Inve · lev 40% · 4.10x (proxy)United Behavioral Health / Optum BH carv · lev 38% · 3.10x (proxy)Ardent Health Services / Equity Group In · lev 55% · 2.20x (proxy)Sound Physicians / Summit Partners LBO · lev 43% · 3.00x (proxy)National Health Investors / Senior Care · lev 55% · 1.80x (proxy)Global Indemnity Group / specialty healt · lev 55% · 2.20x (proxy)Mednax / NP Pediatrics physician group r · lev 40% · 1.50x (proxy)Vitas Healthcare / Chemed Corporation ac · lev 50% · 5.80x (proxy)Prospect Medical Holdings / Leonard Gree · lev 55% · 0.80x (proxy)Crossroads Hospice / LHC Group acquisiti · lev 55% · 3.20x (proxy)Surgical Directions / Waud Capital LBO · lev 50% · 3.80x (proxy)Staywell Health / Carient / Population h · lev 43% · 2.80x (proxy)Heritage Healthcare / ABRY Partners add- · lev 55% · 2.50x (proxy)Physicians Endoscopy / Blue Wolf Capital · lev 55% · 3.50x (proxy)National Western Life / Aon Hewitt benef · lev 55% · 2.10x (proxy)TeamHealth / IPC Healthcare merger (pre- · lev 38% · 1.10x (proxy)Altus Healthcare + Rehab / Revelstoke Ca · lev 55% · 2.80x (proxy)InCompass Health / Elevation Oncology me · lev 55% · 3.60x (proxy)LHC Group / Almost Family merger · lev 43% · 3.00x (proxy)Hanger Prosthetics / Rehabilitation Cent · lev 46% · 2.10x (proxy)Acuity Brands Healthcare / Industrial li · lev 55% · 2.30x (proxy)WellCare / Centene merger (second deal) · lev 38% · 3.20x (proxy)Emergency Communications Network / TriZe · lev 30% · 4.50x (proxy)HAH / Home at Home pediatric nursing (Pe · lev 55% · 4.00x (proxy)Tivity Health / Donaldson Lufkin Jenrett · lev 55% · 2.50x (proxy)Surgical Care Affiliates (SCA) / Frist & · lev 55% · 3.80x (proxy)Mossrehab / Moss Rehab IRF Network expan · lev 55% · 2.10x (proxy)IASIS Healthcare / TPG Capital LBO · lev 55% · 2.50x (proxy)BioTelemetry / Philips Healthcare acquis · lev 21% · 5.50x (proxy)Acadia Healthcare Florida/Tennessee BH h · lev 55% · 3.00x (proxy)Navicent Health / Atrium Health merger · lev 55% · 2.00x (proxy)Capio AB / Ramsay Health Care acquisitio · lev 50% · 2.80x (proxy)Curo Health Services / FC/Patriot Capita · lev 55% · 3.40x (proxy)CHC Healthcare / CareFlight Air Medical · lev 55% · 1.80x (proxy)Fresenius Kabi / NxStage Medical acquisi · lev 24% · 3.80x (proxy)Nexus Health Systems / RehabCare Group a · lev 55% · 2.40x (proxy)AmSurg / AMSURG + Envision Premerger phy · lev 43% · 2.80x (proxy)ModivCare / Providence Service add-on (p · lev 55% · 1.90x (proxy)Encompass Health / HealthSouth IRF spin · lev 50% · 2.50x (proxy)LifePoint Health / RCCH merge + Province · lev 55% · 2.50x (proxy)Molina Healthcare / Joseph Molina family · lev 55% · 4.50x (proxy)Dermatology Associates / Harvest Partner · lev 55% · 3.80x (proxy)R1 RCM / TowerBrook + Ascension health s · lev 30% · 5.00x (proxy)Veritas Medical / Amsurg cardiology add- · lev 50% · 3.20x (proxy)National Staffing Group / healthcare sta · lev 55% · 4.50x (proxy)MEDNAX / Sheridan Anesthesiology merger · lev 46% · 1.40x (proxy)Ankura Consulting / FTI Health group car · lev 50% · 2.80x (proxy)Community Health Systems / Quorum Health · lev 55% · 0.30x (proxy)PharMerica / BrightSpring merger (KKR + · lev 50% · 2.80x (proxy)Pediatric Home Service / Stellus Capital · lev 55% · 3.30x (proxy)Amedisys / LHC Group strategic position · lev 38% · 3.50x (proxy)US Dermatology Partners / BBH (Brockton) · lev 55% · 4.00x (proxy)Covenant Physician Partners / Quad-C · lev 55% · 4.20x (direct)Comprehensive Pharmacy Services / OMERS · lev 55% · 3.10x (direct)VillageMD / Walgreens Health · lev 20% · 0.30x (direct)BrightSpring Health Services / KKR · lev 65% · 1.80x (direct)Arcadian Management Services / Nautic Pa · lev 52% · 3.80x (direct)ModivCare / WCG (exit via public markets · lev 50% · 3.50x (direct)National Spine & Pain Centers / Waud Cap · lev 57% · 3.40x (direct)AlerisLife / ABP Acquisition · lev 40% · 0.80x (direct)Cano Health / SPAC / Chapter 11 · lev 35% · 0.05x (direct)Quartet Health / Oak HC/FT · lev 10% · 2.00x (direct)LifeScan / Platinum Equity · lev 65% · 0.90x (direct)nThrive RCM / Clearlake Capital · lev 62% · 2.80x (direct)Waystar / EQT Partners · lev 58% · 3.80x (direct)Shields Health Solutions / Summit Partne · lev 45% · 5.00x (direct)The Oncology Institute / Advent Internat · lev 20% · 0.30x (direct)InnovAge Holding / Welsh Carson (PACE pl · lev 45% · 3.80x (direct)OrthoAmerica Spine / Clearfield Capital · lev 52% · 3.20x (direct)Apria Healthcare / Blackstone → Owens & · lev 60% · 2.50x (direct)Alignment Healthcare / Warburg Pincus → · lev 15% · 1.20x (direct)Agiliti / Thomas H. Lee Partners · lev 58% · 2.90x (direct)Kindred Healthcare / TPG + Welsh Carson · lev 65% · 2.20x (direct)Acadia Healthcare – Warburg Pincus Platf · lev 58% · 3.10x (direct)Greenbrook TMS – Mental Health Roll-Up ( · lev 72% · 0.40x (direct)Surgery Partners – New Mountain Capital · lev 62% · 3.80x (direct)NovaBay Pharmaceuticals – THL Partners R · lev 55% · 2.20x (direct)HealthChannels / ScribeAmerica – Warburg · lev 52% · 3.30x (direct)US Anesthesia Partners – Berkshire Partn · lev 65% · 2.80x (direct)Pediatric Associates – KKR Platform · lev 60% · 2.60x (direct)Caremax – Deerfield / SPAC Distressed · lev 80% · 0.10x (direct)Navvis & Company – Health System Consult · lev 45% · 2.90x (direct)Covenant Physician Partners – Warburg Pi · lev 58% · 3.20x (direct)American Physician Partners – Distressed · lev 72% · 0.60x (direct)Phreesia – PSG / SaaS Healthcare · lev 20% · 4.80x (direct)Community Health Systems Carve-Out – Oak · lev 68% · 1.80x (direct)Premise Health / National Wellness – Inv · lev 55% · 2.40x (direct)Hims & Hers – Oaktree / Pre-SPAC · lev 15% · 3.60x (direct)Aspen Dental – Ontario Teachers / Leonar · lev 58% · 3.10x (direct)Smile Brands – Berkshire Partners recapi · lev 48% · 2.50x (proxy)Schweiger Dermatology – InTandem Capital · lev 52% · 3.40x (direct)U.S. Dermatology Partners – ABRY Partner · lev 55% · 2.90x (direct)Acuity Eye Group – Varsity Healthcare Pa · lev 50% · 3.80x (direct)Eye Health America – Quad-C Management L · lev 54% · 3.00x (proxy)Forefront Dermatology – Wind Point Partn · lev 53% · 3.50x (direct)Pediatrix Medical Group – CCMP Capital · lev 60% · 2.20x (direct)Women's Health USA – Frazier Healthcare · lev 55% · 3.20x (proxy)Unified Women's Healthcare – Welsh Carso · lev 57% · 3.00x (direct)OrthoConnecticut – Revelstoke Capital · lev 55% · 3.50x (proxy)OrthoSouth – Alaris Capital Partners · lev 55% · 2.80x (proxy)Select Medical – Welsh Carson recapitali · lev 70% · 2.80x (direct)IntegraMed Fertility – Lee Equity Partne · lev 55% · 3.60x (proxy)US Fertility – Amulet Capital Partners p · lev 52% · 3.20x (direct)CRH Medical – Ares Management take-priva · lev 60% · 2.60x (direct)Gastro Health – KKR add-on platform · lev 58% · 2.90x (direct)Radiology Partners – New Enterprise Asso · lev 55% · 5.20x (proxy)National Spine & Pain Centers – Blue Wol · lev 55% · 2.70x (proxy)Leverage %Realized MOIC
Circles = direct data · Squares = EV/EBITDA proxy · Hover for deal detail
P25/P50/P75 MOIC by leverage regime
MOIC by Leverage Bucket
Low3.00xMid2.90xHigh2.50xVery0.50x
Bucket Range Deals Avg Lev P25 P50 P75 P50 IRR Loss % Source
Low★ OPTIMAL 0–45% 42 33.6% 1.27x 3.00x 3.80x 24.0% 19.0% direct
Mid 45–60% 136 52.7% 2.40x 2.90x 3.50x 24.0% 5.1% direct
High 60–70% 11 62.9% 2.00x 2.50x 2.70x 22.0% 9.1% direct
Very High 70–100% 4 73.5% 0.33x 0.50x 1.15x -23.0% 75.0% direct
Proxy leverage = 55% × (debt/EBITDA) / (EV/EBITDA) — approximation only · Optimal = highest P50 MOIC bucket · 47 direct observations · 146 EV/EBITDA proxies