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Provident Healthcare Partners Provident Healthcare Partners

Q3 2023 Healthcare IT Update

Provident Healthcare Partners
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Q3 2023 Healthcare IT Update

While deal flow in healthcare IT was down 11% from the previous quarter and 21% from the same quarter last year, Q3-23 saw a marked increase in transaction value. At $7.2B, total capital invested was over 5.5x greater than Q2-23. This considerable uptick can be attributed to three landmark deals – Globus Medical’s $3.1B acquisition of NuVasive, Thoma Bravo’s announced $1.8B take-private acquisition of NextGen Healthcare, and TPG’s $1.4B acquisition of NexTech.

Secular tailwinds, such as an aging U.S. population, healthcare staffing shortages, and supply chain constraints will drive companies to bolster their healthcare IT capabilities to meet and overcome the unique challenges facing the healthcare industry. These tailwinds, combined with lower public valuations and continued investor appetite seen in recent quarters despite turbulent economic conditions, demonstrate the resilience of the sector, a trend Provident expects to continue throughout the remainder of the year.

To print and download the full Healthcare IT Update report, please click below…

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