Why PE Investors in European Healthcare Are Rolling up Their Sleeves

Private equity investors targeting Europe’s healthcare are putting more focus on organic growth, as higher capital costs make it harder to pursue buy-and-build strategies. The number of healthcare add-ons—where a firm makes an acquisition through an existing portfolio company—peaked in 2022. Deal value hit close to €20 billion (around $21.7 billion) across 392 deals, according to PitchBook data, driven by both low interest rates and increasing appetite for healthcare investment in the wake of the pandemic. Total add-on investment activity slowed to €13.6 billion last year, while there have been only €8.3 billion in deals this year, partly because of central banks in Europe and elsewhere raising interest rates to tackle inflation.

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Source: https://pitchbook.com/news/articles/why-pe-investors-in-european-healthcare-are-rolling-up-their-sleeves

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