PE Investments in Healthcare Reached Record Highs in 2025

Bain & Company reported that a despite second quarter tariff-related pause, private equity activity and PE investments set a record with more than $190 billion in estimated deal value. [1] Deal volume was the second highest on record. The Private Equity Stakeholders Project commented in its annual report that Health IT, dental care, outpatient care, medtech, and behavior health were the busiest subsectors. See chart below.

Most transactions were add-on transactions:

Of dental deals, most were general dentistry, orthodontics, and oral surgery transactions:

Outpatient Care transactions focused on dermatology and eye care:

For more report findings, read the report here.