AlphaSituations-Event/Catalyst Driven Research, AlphaSituations

Robert Sassoon

AlphaSituations-Event/Catalyst Driven Research

AlphaSituations

Since its establishment, AlphaSituations has delivered a track record of outperformance with a hit rate of winners of more than 70% of its portfolio of ideas generating annualized average returns of 20%. In January 2022, AlphaSituations was contracted by Water Tower Research, an investor engagement and stakeholder communication platform to provide coverage of Special Situations

Event-Driven

On September 11, 2020, we published an Insight on the then pending merger of SPAC Healthcare Merger Corp with with SOC Telemed, a leader in high acute telemedicine (MergerTalk: Healthcare Merger/SOC Telemed-Why This Deal Can Join The Exclusive SPAC Winners Club). In that insight, we laid out the case for why we think SOC Telemed's backdoor listing via this SPAC merger, is well positioned to be a winning investment. 
The merger was completed on October 30, 2020,  and the post merger entity, <a href="https://www.smartkarma.com/entities/soc-telemed-inc" target="_blank" data-smartkarma-citation="entities:29273:1" rel="noopener">SOC Telemed (TLMD US)</a>, began trading on the NASDAQ from November 2, 2020, but, the listing has so far been underwhelming with the stock trading below Healthcare Merger's IPO price of $10. Following close on the heels of the American Well Corp (AMWL US) IPO and the completion of the <a href="https://www.smartkarma.com/entities/teladoc-health-inc" target="_blank" data-smartkarma-citation="entities:14233:1" rel="noopener">Teladoc Health, Inc. (TDOC US)</a> /Livongo meger, we believe that TLMD's enticing story has simply got lost in the crowd. Consequently, we believe TLMD trades at an undeservedly wide valuation gap to peers in the Teleleheralth sector.
On November 16, 2020, TLMD was presented with its first opportunity post-merger to retell its story when it reported its 3Q 2020 earnings, and did not disappoint. We also believe this is a story worth retelling. We hold a high conviction that this stock will considerably narrow its valuation gap relative to its peers during the course of 2021 as investors become more familiar with a newer type of business model in Teleheath.

On September 11, 2020, we published an Insight on the then pending merger of SPAC Healthcare Merger Corp with with SOC Telemed, a leader in high acute telemedicine (MergerTalk: Healthcare Merger/SOC Telemed-Why This Deal Can Join The Exclusive SPAC Winners Club). In that insight, we laid out the case for why we think SOC Telemed's backdoor listing via this SPAC merger, is well positioned to be a winning investment. 
The merger was completed on October 30, 2020,  and the post merger entity, SOC Telemed (TLMD US), began trading on the NASDAQ from November 2, 2020, but, the listing has so far been underwhelming with the stock trading below Healthcare Merger's IPO price of $10. Following close on the heels of the American Well Corp (AMWL US) IPO and the completion of the Teladoc Health, Inc. (TDOC US) /Livongo meger, we believe that TLMD's enticing story has simply got lost in the crowd. Consequently, we believe TLMD trades at an undeservedly wide valuation gap to peers in the Teleleheralth sector.
On November 16, 2020, TLMD was presented with its first opportunity post-merger to retell its story when it reported its 3Q 2020 earnings, and did not disappoint. We also believe this is a story worth retelling. We hold a high conviction that this stock will considerably narrow its valuation gap relative to its peers during the course of 2021 as investors become more familiar with a newer type of business model in Teleheath. 

2021 High Conviction - MergerTalk:SOC Telemed- Acutely Underappreciated Investment Proposition

SPAC <a href="https://www.smartkarma.com/entities/healthcare-merger-corp" target="_blank" data-smartkarma-citation="entities:29273:1" rel="noopener">Healthcare Merger Corp (HCCO US)</a> 's pending merger with SOC Telemed, a leader in high acute telemedicine looks like another good wave to catch by SPAC investors. As we highlighted in our Insight published on September 3, 2020 - MergerTalk: SPACs May Have Become The Hot New Trend, But SPAC Investment Requires A Health Warning - the majority of these SPAC merger transactions have turned out to be poor investments. In that piece, we argued for selectivity and caution.  Of the winners, it appears that investors are most excited about transactions in “emerging” trends such as green mobility or pandemic resistant areas such as online gaming and packaged/healthy foods. We would add the Telehealth industry as another emerging trend that has garnered investor enthusiasm this year.While we have seen a couple of successful direct Telehealth IPOs this year, and a sizeable and high priced merger transaction in the sector  involving <a href="https://www.smartkarma.com/entities/teladoc-health-inc" target="_blank" data-smartkarma-citation="entities:14233:1" rel="noopener">Teladoc Health, Inc. (TDOC US)</a> and  <a href="https://www.smartkarma.com/entities/livongo-health-inc" target="_blank" data-smartkarma-citation="entities:28714:1" rel="noopener">Livongo Health Inc (LVGO US)</a>, the pending HCCO/SOC Telemed merger is the first of its kind in the SPAC investment space.  We believe that this somewhat differentiated Telehealth situation has the ingredients to join the exclusive club of winning SPAC related transactions. We detail our case for HCCO/SOC Telemed  as an attractive investment proposition below.

SPAC Healthcare Merger Corp (HCCO US) 's pending merger with SOC Telemed, a leader in high acute telemedicine looks like another good wave to catch by SPAC investors. As we highlighted in our Insight published on September 3, 2020 - MergerTalk: SPACs May Have Become The Hot New Trend, But SPAC Investment Requires A Health Warning - the majority of these SPAC merger transactions have turned out to be poor investments. In that piece, we argued for selectivity and caution.  Of the winners, it appears that investors are most excited about transactions in “emerging” trends such as green mobility or pandemic resistant areas such as online gaming and packaged/healthy foods. We would add the Telehealth industry as another emerging trend that has garnered investor enthusiasm this year.While we have seen a couple of successful direct Telehealth IPOs this year, and a sizeable and high priced merger transaction in the sector  involving Teladoc Health, Inc. (TDOC US) and  Livongo Health Inc (LVGO US), the pending HCCO/SOC Telemed merger is the first of its kind in the SPAC investment space.  We believe that this somewhat differentiated Telehealth situation has the ingredients to join the exclusive club of winning SPAC related transactions. We detail our case for HCCO/SOC Telemed  as an attractive investment proposition below.

MergerTalk: Healthcare Merger/SOC Telemed-Why This Deal Can Join The Exclusive SPAC Winners Club

United States

SOC Telemed, Inc. provides acute care telemedicine services. The Company offers patient-focused telemedicine solutions. SOC Telemed serves patients in the United States.

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SOC Telemed (TLMD US)

2021 High Conviction - MergerTalk:SOC Telemed- Acutely Underappreciated Investment Proposition

An acutely underappreciated investor proposition should see its valuation gap to peers close as investors become more familiar with a newer...

Robert Sassoon

MergerTalk: Healthcare Merger/SOC Telemed-Why This Deal Can Join The Exclusive SPAC Winners Club

$nealth

Robert Sassoon

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