The number of healthcare-focused private equity deals decreased by 16.2% in 2023, according to PitchBook's "Healthcare Services Report" published Feb. 8.
Here are four other takeaways from the report:
- 788 deals were announced or closed by private equity sponsors in 2023, down from 940 in 2022 and the peak of 1,114 in 2021.
- Q3 was the most active in the year, with sponsors announcing or closing 215 deals.
- Q4 was the least active in the year with 172 deals.
- Healthcare services companies accounted for an inordinate share of leveraged loan defaults in 2023, holding over 20% of default value while only accounting for 12.5% of issuers.