Overview Healthcare & Life Sciences Welcome Letter: Sizing Up the Great Adaptation Healthcare’s resilience attracts both more capital and creative new forms of capital. Healthcare & Life Sciences Healthcare Private Equity Market 2021: The Year in Review The industry roared back after a pandemic-induced lull in 2020. Hot Topics Healthcare & Life Sciences Covid-19 Fallout: Investing to Handle Pandemics Present and Future Healthcare companies are responding to changes wrought by the coronavirus and gearing up to anticipate future outbreaks. Healthcare & Life Sciences Now Playing: The Return of the Healthcare Megadeal More private equity sponsors team up to win bids and spread risk. Healthcare & Life Sciences Growth Equity Blossoms in Emerging Tech-Related Healthcare Firms Incremental capital helps cutting-edge firms scale up operations. Healthcare & Life Sciences Healthcare Private Equity Deal Returns: Look to Revenues and Multiples Margin expansion, currently a minor factor in returns, is bound to become more important. Healthcare & Life Sciences Healthcare Corporate M&A: Rebounding from the Pandemic Record-high valuations are forcing acquirers to get creative. Healthcare & Life Sciences Healthcare Exits: Corporate Buyers Step Up Roll-ups and portfolio expansion underlie many corporate deals. Healthcare & Life Sciences Healthcare Private Equity Outlook: 2022 and Beyond Investors are hunting for value in a time of discontinuity. Regions Healthcare & Life Sciences Healthcare Private Equity in North America: Macro Trends Broaden Investment Opportunities Capital is flowing to innovative technologies and business models across sectors. Healthcare & Life Sciences Healthcare Private Equity in Europe: Funds Take On More Risk in a Hot Market Investors look for companies that can easily scale up across borders. Healthcare & Life Sciences Healthcare Private Equity in Asia-Pacific: A Multiyear Growth Trajectory Large-scale and tech-savvy assets get the lion’s share of investment. Sectors Healthcare & Life Sciences Biopharma: Traditional Pharma Services Lead the Way Big deals roar back, especially in Europe. Healthcare & Life Sciences Providers: Sparks of Innovation in Primary Care, but Labor Tightens The upheavals of Covid-19 spurred providers to adapt and private equity to close a record year. Healthcare & Life Sciences Payers: A Shift from Insurance to Services Payers look to advanced data analytics and member engagement in order to lower costs and improve outcomes. Healthcare & Life Sciences Medtech: The Pandemic Has Expanded Needs and Opportunities Deals flow from provider demand for supply chain resilience, expense management, and support for alternative care. Healthcare & Life Sciences Life Sciences Tools: Diagnostics Deals on the Rise Diagnostics labs and R&D technology firms have attracted more investments from private equity firms. Healthcare & Life Sciences Healthcare IT: Faster, Smarter, Tuned to Value It’s all about streamlining operations or improving outcomes.