PE firms expand healthcare platform investments (2022)
Healthcare has become one of the most active sectors for large private-equity deals, with several multi-billion-dollar platform transactions in 2022 and 2023. Sponsors have been buying hospital groups, physician practices, and healthcare technology platforms at scale, driven by the sector's structural growth and the need for operational scale. These deals reflect a broader trend of PE moving into sectors that require deep domain expertise and long-term capital.
Why it mattered
Healthcare became one of the most active and highest value PE sectors, with sponsors building large platform positions in hospitals, post acute care, and specialty services. The deals showed that PE could operate regulated, labor intensive businesses at scale and drive value through operational improvements. They also sparked debate about the role of PE in healthcare, which remains a live policy issue today.