While all industries were undoubtedly affected by the 2007-2009 recession, PE investors appeared to return to the healthcare sector quicker than many others. Pre-recession healthcare deals peaked at 485 in 2007 before dropping by 34% in 2009, according to the PitchBook Platform; deal flow, however, jumped back to 442 in 2010 and has risen steadily since. Just last year, a record 577 deals were completed in the space.
Add-ons in the healthcare industry have also been on the rise. After accounting for 27% of deals in the space in 2010, add-ons grew to represent more than 38% last year. Thus far in 2015, add-ons have already accounted for over 42% of healthcare deals.
Top healthcare investors since 2010 and their deal counts (incl. add-ons):