Private Equity in Healthcare and Life Sciences Strategies, Cases, Industry Insights: Insights

PRAISE FOR PRIVATE EQUITY IN HEALTHCARE AND LIFE SCIENCES "Health care has been arguably the most contentious flashpoint in the debate about private capital and its social implications. Private Equity in Healthcare and Life Sciences plunges into these contested waters, thoughtfully shedding clear light on a territory dominated by heated rhetoric."—Josh Lerner, Harvard Business School and author of Patient Capital and Rethinking Innovation "The blend of practitioner insight with scholarly depth means this works equally well in the classroom and the C-suite—a rare achievement in business publishing. A core reading for all at UCL GBSH."—Professor Nora Ann Colton, Director, UCL Global Business School for Health "Rich in insight and a wealth of information for investment professionals, founders and CEOs alike."—Herbert Hooper, Managing Partner, Ampersand Capital Partners "For healthcare professionals tired of nodding politely during financing discussions they don't fully grasp, this is your secret weapon to command the room."—Mike Mortimer, Managing Partner GHO, Capital Partners "This book offers an unusually comprehensive and serious treatment of private equity in healthcare. It combines rigorous financial analysis with a deep understanding of industry realities, regulatory constraints, and operational trade-offs. It will be valuable both to practitioners seeking structure and to readers who want to understand what private equity really does in healthcare, beyond slogans and caricatures."—Ludovic Phalippou, Professor of Financial Economics, University of Oxford Said Business School "This book delivers healthcare expertise and financial rigor that dealmakers need. Practical, insightful, and useful."—Scott Adelson, CEO Houlihan Lokey A COMPLETE GUIDE TO UNDERSTANDING AND PROFITING FROM PE INVESTMENTS IN HEALTHCARE AND LIFE SCIENCES Private Equity in Healthcare and Life Sciences addresses the unique challenges of investing in healthcare and life sciences, one of the most complex sectors for private equity professionals. Written by Marc Kitten and Gilles Chemla, professors and practitioners with decades of combined experience advising on hundreds of healthcare transactions, this comprehensive guide explains how PE integrates strategy, economics, and operations to create value. The book explores venture capital in biotech and healthtech, growth capital, leveraged buyouts, and emerging investment types including private credit and infrastructure funds. Readers gain practical insights into the complete investment lifecycle, from fundraising and deal sourcing through due diligence, valuation, negotiation, and exit strategies. Detailed LBO analysis techniques and two innovative frameworks for value creation provide actionable tools for identifying opportunities and executing successful transactions in this specialised sector. Essential reading for business students, private equity professionals, healthcare executives, life sciences managers, and sophisticated investors, this book equips readers with the knowledge to navigate complex healthcare investments, assess opportunities, and create sustainable value whilst understanding the unique challenges and responsibilities of PE ownership in healthcare delivery. Complete guide to understand and profit from PE investments in healthcare and life sciences Private Equity in Healthcare and Life Sciences delves into the exciting world of private equity (PE) in health—products and services, life sciences and healthcare services—reviewing everything from the origins and types of funds to the stages of the investment process and financial modelling. This book explores how private equity integrates multiple disciplines and is thus even more an “art” than a science, combining strategy and economic operations to deliver a comprehensive approach to business success. Leveraging the authors’ decades of experience advising investors and executives in healthcare, developing case studies and teaching PE across four continents, this book includes insights on: PE’s role in emerging health markets and the resilience of healthcare investments through various economic crises Deep discussions of conflicts between stakeholders Specificities of company valuation in the PE context A comprehensive list of strategies of value creation and two brand new frameworks that are presented How private equity funds work: who runs them, how they make money, how they are set up and structured and what drives and constrains their investment decisions Key investment trends in healthcare and life sciences, exploring why the sector has been attractive to private equity firms and how different investment models have evolved over time Private Equity in Healthcare and Life Sciences is a key asset for both students interested in private equity, and all professionals working in healthcare and life sciences - medical staff, practice owners and medical and pharmaceutical managers who want to link their activities in healthcare with private equity. Whether they plan to raise funds, to sell their practice, or to join a portfolio company as a manager or an operating partner, this book will be an essential resource.