Despite a challenging macroeconomic environment, the 2022 healthcare transactions market generally remained active, with some decline in deal values as the year ended. The following factors influenced 2022 healthcare M&A activity:
- Turbulence in leveraged financing markets shifted the focus of private equity firms down-market to smaller-value, roll-up transactions.
- Valuation multiples declined across various health services sectors other than home health and hospice and rehabilitation services, which experienced growth in announced deal value compared to 2021.
- Digital startups and smaller provider organizations partnered with larger companies to weather financial and operational impacts of supply-chain issues, ongoing labor shortages, tightening financing conditions, limited fundraising opportunities, and hawkish monetary policy.
Download the eighth annual edition of Healthcare Transactions: Year in Review for our review of 2022 transaction activity in eight healthcare sectors and our assessment of trends that will continue to emerge in 2023:
- Physician Practice Management
- Ambulatory Surgery Centers
- At-Home and Hospice Care
- Digital Health & Health Information Technology
- Behavioral Health
- Managed Care
- Pharmacy & Life Sciences