Healthcare is back. But Private Equity isn’t buying healthcare equally. It’s buying predictability.

KKR’s acquisition of Integer Holdings and Blackstone/TPG’s acquisition of Hologic are often discussed as evidence that 𝐩𝐫𝐢𝐯𝐚𝐭𝐞 𝐞𝐪𝐮𝐢𝐭𝐲 𝐢𝐬 𝐫𝐞𝐭𝐮𝐫𝐧𝐢𝐧𝐠 𝐭𝐨 𝐡𝐞𝐚𝐥𝐭𝐡𝐜𝐚𝐫𝐞. 𝐓𝐡𝐞 𝐯𝐚𝐥𝐮𝐚𝐭𝐢𝐨𝐧 𝐝𝐚𝐭𝐚 𝐭𝐞𝐥𝐥𝐬 𝐚 𝐝𝐢𝐟𝐟𝐞𝐫𝐞𝐧𝐭 𝐬𝐭𝐨𝐫𝐲. Across 26 sponsor-led healthcare transactions announced since …