Global Healthcare Private Equity and M&A Report 2023 Acknowledgments This report was prepared by Bain’s Global Healthcare Private Equity practice and a team led by Samantha Gorang, an associate partner in Atlanta; Peter Accomando, a senior manager in Boston; and John Day, Americas Healthcare Private Equity practice director. The authors thank Olivia Pavco Giaccia, Dela Kpo, Javon Tai, James Porter, Robert Schrettl, and Samantha Tralka for their contributions; John Campbell and Robert Rosenberg for their editorial leadership; and Emily Lane, John Peverley, and Laura Caringella for their research assistance. We’re grateful to Dealogic, AVCJ, S&P Capital IQ, Preqin, and DealEdge? for the valuable data they provided for this report. This work is based on secondary market research, analysis of financial information available or provided to Bain & Company and a range of interviews with industry participants. Bain & Company has not independently verified any such information provided or available to Bain and makes no representation or warranty, express or implied, that such information is accurate or complete. Projected market and financial information, analyses and conclusions contained herein are based on the information described above and on Bain & Company’s judgment, and should not be construed as definitive forecasts or guarantees of future performance or results. The information and analysis herein does not constitute advice of any kind, is not intended to be used for investment purposes, and neither Bain & Company nor any of its subsidiaries or their