Good evening,

Three months after delivering its investors a big payday with school software business Compass Education, Melbourne’s Advent Partners is trying its luck with another SaaS deal – this time in healthcare.

Street Talk can reveal Advent has tasked Allier Capital managing director Emmanuel Syrrou with finding a buyer for Medtech, a provider of practice management software that makes about $15 million in earnings and has some 16,000 users in Australia and New Zealand.

Syrrou was in Advent’s corner in June 2020 when dealmakers Rob Hooke and Rob Radcliffe-Smith acquired a stake in Medtech through the $300 million Advent Partners 2 Fund.

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Corr’s look-back on the past 12 months in public M&A deals recorded 59 transactions, the highest volume of deals for the past decade. However, the average deal value dropped to $782 million from $1.4 billion a year prior.

The Australian sharemarket fell on Wednesday as the “Trump trade” that’s powered global equities for much of the last week took a breather and interest rate concerns returned to the fore.

Click here for the latest equity market wrap.