The COVID-19 pandemic wildly affected private equity investment in healthcare services during the first quarter of 2020, according to a market update from Provident Healthcare Partners.
Provident expects transactions will be delayed in the short term because PE firms are focused on maintaining their current investments.
Despite the slowdown, investment continued in the ophthalmology and healthcare IT space. In ophthalmology, Webster Equity Partners formed Retina Consultants of America, a new platform headquartered in Southlake, Texas. Webster, notably, also established a gastroenterology platform in Memphis, Tenn., in April after the quarter ended.
Before the COVID-19 pandemic, Provident believed healthcare was due to repeat 2019 levels of investment.
Read the entire update here.