Dry Powder: The Private Equity Podcast

Healthcare as National Defense

The public-private partnerships forged in the heat of Covid-19 could change our very conception of what’s possible in healthcare.


Healthcare as National Defense

On the previous episode of Dry Powder, Nirad Jain and Kara Murphy, the coleaders of Bain’s private equity healthcare team, took stock of a remarkable year of changes to the healthcare sector.

In part two of our healthcare series we’ll consider how Covid ushered in a concept that has enormous implications for investors: healthcare as national defense.

“This notion of healthcare as national defense took hold when our country realized we didn’t have enough ventilators and PPE at the beginning of the pandemic, and we didn't have a local supply chain to be able to secure it,” Nirad Jain says.

The partnerships that formed between the public and private sectors will not only outlast Covid, they could remove what once seemed like immovable obstacles to drug development, IT investments, payment processing, and home care.

“The amount of coordination and collaboration in the industry was unprecedented,” says Nirad, “and it’s opened everyone’s eyes as to what’s going to be possible as we move forward.”


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In our podcast series, Bain's Hugh MacArthur interviews leading experts on the trends and opportunities that will redefine the private equity industry.

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