At the McDermott Will & Schulte Healthcare Private Equity Conference, industry leaders struck a cautiously optimistic tone for 2026 as deal activity is expected to reaccelerate. Despite new state regulations—most notably California’s tighter limits on private equity ownership of physician practice management firms—participants agreed that the compliance burden remains manageable and unlikely to affect valuations meaningfully. Meanwhile, middle-market firms are leveraging private credit to take on larger deals. A few more rate cuts lowering deal costs combined with sponsors’ liquidity needs should narrow recent valuation gaps and lead to a “game-on” environment ahead.
Read the full article: PitchBook Analyst Note: Takeaways from the McDermott Will & Schulte HPE NYC Conference //
Source: https://pitchbook.com/news/reports/q4-2025-pitchbook-analyst-note-takeaways-from-the-mcdermott-will-schulte-hpe-nyc-conference