Private equity investments into hospitals and diagnostic chains have nearly quadrupled from 2011 to 2013, according to a FICCI-KPMG report. Overall, the sector has attracted close to $1 billion from both domestic and foreign financing companies. But there have been 24 PE exits worth $720 million in 2015, the highest since 2011, according to Venture Intelligence. Many of the exits have been via IPOs. Is this prudent cashing in or a loss in appetite?