« back to reports
Q3 2022
Healthcare Services Report
November 14, 2022
This report was reuploaded on February 16, 2023, to remove a sponsor. and on May 9, 2023, to correct a table title.
Introducing healthcare services PE industry research
Healthcare services is a major investment area for private equity firms, accounting for roughly 10% of PE buyout and growth deals overall in the US in 2022. The investment strategies of these firms have implications for market players and other stakeholders like patients and regulators.
Our Q3 2022 Healthcare Services Report, the first of our new Industry Research series, maps out the PE ecosystem, deal activity and critical regulatory developments.
Key takeaways:
Table of contents
Introducing healthcare services PE industry research
Healthcare services is a major investment area for private equity firms, accounting for roughly 10% of PE buyout and growth deals overall in the US in 2022. The investment strategies of these firms have implications for market players and other stakeholders like patients and regulators.
Our Q3 2022 Healthcare Services Report, the first of our new Industry Research series, maps out the PE ecosystem, deal activity and critical regulatory developments.
Key takeaways:
- US PE deal activity in healthcare services remained resilient so far in 2022. Estimated deal count through Q3 2022 already exceeds 2020’s full-year figure.
- PE strategies are increasingly concentrating on providing high-quality care in the lowest cost setting, as well as preventive care to improve outcomes for the sickest individuals.
- Headwinds for the healthcare services industry include endemic staffing shortages and reimbursement pressures that are hitting providers hard, especially in skilled care and behavioral health.
Table of contents
| Vertical overview | 4 |
| PE activity | 6 |
| Healthcare services PE ecosystem market map | 9 |
| Healthcare services PE investor map | 11 |
| Q1 to Q3 2022 timeline | 12 |
| Key regulatory developments | 13 |
| Segment overview | 14 |
| Generalist providers | 15 |
| Multispecialty providers | 22 |
| Physician practice management companies (PPMs) | 29 |
| Skilled care and behavioral health | 38 |
| Appendix | 47 |