Change of heart

Private equity exits in healthcare have surged. Has the segment lost its allure?

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?