Jefferies: Medtech comparisons from 2007 to 2008

This just in from Jefferies:

1) The Medical Device Public Company Universe traded at 3.0 times LTM Revenue, 27.5 times LTM Earnings and 21.6 times one year forward Earnings, versus trading at 1.6 times LTM Revenue, 17.0 times LTM Earnings and 14.5 times one year forward Earnings today.

2) Thirteen companies were in registration to go public (three ultimately were successful), versus three in registration today.

3) The IPO Class of 2007 was trading in positive territory (up 1.8%), versus the IPO Class of 2008 trading off 33.2% as of today.

4) Thirteen industry sub-sectors were trading in positive territory, versus none today.

5) Five industry sub-sectors (Hearing, Analytical Equip, Orthopedics, Diagnostics and Diversified) out-performed the broader index for the year, versus four (Components, Safety/Sterilization, Diversified, Home Care/Respiratory) today.

6) The average M&A multiple for the prior twelve months was 2.9 times (LTM Revenue), versus 2.8 times (LTM Revenue) today!