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Average Multiples and Key Drivers of Digital Therapeutics (DTx) M&A deals in 2023

Lloyd Price

These multiples are down from the levels seen in 2022, but they are still higher than the average EV to sales multiple for all industries. Diabetes management: DTx products can assist in blood glucose control, insulin therapy management, and lifestyle modification for diabetes patients. EV to EBITDA: 12.5x