Global Healthcare Private Equity and M&A Report 2023

Down but not out

The first half of 2022 saw a continuation of 2021’s record-setting pace for healthcare private equity deal volume and deal value, and while geopolitical uncertainty, inflation, interest rate pressure, and tight credit did eventually catch up to the market in the third quarter, 2022 will still be the second-biggest year on record.

Looking at 2023 and beyond, investors face intense competition, rising US interest rates, higher labor costs, and tighter credit—but ample dry powder and a track record of returns ensures healthcare will remain a priority for top firms even if winning deals requires becoming more specialized and creative in their approach.

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