Associate, Healthcare M&A

We are trusted investment banking advisors to business owners and senior executives of leading private equity firms and their portfolio companies and to public and privately held companies around the world. Our services include mergers and acquisitions advisory, private funds and capital markets advisory and valuations and fairness opinions. As one tightly integrated team of more than 1,400 professionals in 25+ offices in 16 countries, we offer an unobstructed perspective on the global private capital markets, backed by superb execution and a deep commitment to client success. With extensive industry knowledge and relationships, timely market intelligence and strategic insights, we forge deep, productive client relationships that endure for decades. Connect with us to learn more at www.lincolninternational.com.

At Lincoln International, we know that the success of our global organization is a direct outcome of the strength of our people. We encourage diversity of thought and create talent density by attracting, retaining and engaging high performers from all demographics, backgrounds and perspectives. We value diversity, equity and inclusion as a catalyst to foster innovation and creative problem solving, access the best candidates and adapt to a highly dynamic, competitive environment. We know that employing a diverse team and valuing the unique perspectives of our people allows us to better understand and serve the needs of our clients.

Lincoln International is committed to creating a diverse environment and is proud to be an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, or veteran status. We encourage you to read more about our commitment to diversity and Environmental, Social & Governance (ESG) efforts.

Lincoln International is seeking an Associate to join our European Healthcare team in London. Successful candidates will bring strong execution capabilities, sound judgement and the motivation to build a leading healthcare M&A advisory franchise in Europe. The role offers exposure across healthcare services, pharma services and the broader healthcare value chain, working closely with senior bankers and clients on both domestic and cross-border transactions.

We are looking for AI-forward individuals who are comfortable using AI tools in a professional environment. This includes effective prompting and developing practical agentic workflows to improve research, drafting, analysis and process execution, while applying rigorous quality control, human judgement and appropriate confidentiality standards.

Your Role

This position provides an excellent opportunity to work in a demanding, yet supportive, team-oriented environment. An Associate at Lincoln International is expected to support both origination and execution, operate confidently across multiple workstreams and increasingly take ownership of core analytical and process tasks. The Associate also plays an important role in supervising Analysts, reviewing work product and helping maintain the quality and pace of client delivery.

• Support the origination and execution of transactions, typically working on multiple projects and reporting to a Vice President, Director or Managing Director.
• Oversee the work of Analysts, providing guidance and training and acting as the first reviewer of their work.
• Lead the collection and analysis of complex datasets, including customer and operating data, to provide insights.
• Draft information memoranda and other marketing materials, with a particular focus on financial and commercial evidence.
• Design, build and finalize integrated operating models using best-practice standards and close collaboration with management teams.
• Assist in the preparation of client presentations and other business development materials.
• Assist in the valuation analysis of public and private companies and other analytical workstreams.
• Take responsibility for drafting the EV to Equity bridge and deal funds flow under the guidance of the senior team.
• Support due diligence, data room management, Q&A workstreams and interaction with clients, counterparties and third-party advisers.
• Use AI tools, prompting techniques and practical agentic workflows responsibly to enhance research, drafting, data analysis and execution efficiency, while maintaining accuracy, confidentiality and appropriate human oversight.

Why Lincoln

The firm offers a unique, flexible culture that rewards initiative and allows an Associate to develop as quickly as they are capable. The following factors differentiate the Associate program at Lincoln International:

• Unrivalled deal flow and the corresponding learning opportunities that arise from this.
• A true mid-cap approach, working in small deal teams with extensive client exposure as well as cross-border contexts.
• Exposure to a broad range of healthcare subsectors, with the opportunity to develop deeper sector specialization over time.
• Entrepreneurial spirit and flat hierarchies, which mean meaningful team exposure, including to very seasoned and experienced senior bankers, and the opportunity to make a valued contribution and have an impact.
• A steep learning curve in corporate finance, valuation, strategic thinking and client management.
• An extensive Training Curriculum at all levels.
• Opportunity to participate in our US and European Secondment Programs.
• Mentoring Scheme, onboarding sessions and structured developmental feedback.
• The chance to build your career within a growth environment.

You Bring

The Associate position at Lincoln International offers an excellent learning experience and provides a strong foundation upon which an individual can build a future business career. Interested candidates should bring the following requirements:

• Approximately 3 years or more of relevant experience in a lead advisory M&A role within an investment bank, top-tier boutique advisory firm or leading accounting firm.
• Strong transaction execution experience across sell-side and buy-side processes, with healthcare or pharma services exposure preferred.
• Demonstrable experience preparing client materials, managing execution workstreams, performing financial analysis and supporting transaction process management.
• Excellent financial modelling, valuation and analytical skills, coupled with strong attention to detail.
• An exceptional, well-rounded academic background; a professional qualification such as ACA, ACCA, CFA or equivalent is advantageous but not required.
• AI-forward thinking, with hands-on experience using generative AI tools in a professional setting to improve research, analysis, drafting and workflow efficiency.
• Clear and engaging communication skills, verbally as well as written, with the ability to relate and connect to clients, management teams and Lincoln colleagues quickly.
• Strong interpersonal skills, a collaborative style and the ability to manage professional relationships effectively.
• Excellent written and spoken English skills; additional European languages are advantageous.
• Proficiency in Microsoft Excel, PowerPoint and relevant research tools such as Mergermarket, S&P Capital IQ, GainPro and Pitchbook.

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