Private Equity in Healthcare & Life Sciences
Strategies, Cases, and Industry Insights
A complete guide to understanding and profiting from private equity investments in healthcare and life sciences, by Marc Kitten and Gilles Chemla.
Welcome
Thank you to our early readers and endorsers, whose generous feedback has shaped this book. We hope it serves as a practical companion throughout your career in healthcare private equity.
- Marc Kitten and Gilles Chemla
Meet the authors
Marc Kitten
Gilles Chemla
About the book
Healthcare and life sciences represent one of the most complex and rewarding areas of private equity, shaped by heavy regulation, large capital requirements, and an extreme variety of systems and services. Written by Marc Kitten and Gilles Chemla, who combine decades of transaction advisory experience with academic rigour, the book explains how successful investors identify opportunities, structure deals, and create value in this sector.
It traces private equity's evolution from early venture capital to modern mega-buyouts, and covers the full spectrum of investment types: venture capital in biotech and medtech, growth capital, leveraged buyouts, infrastructure funds, secondaries, mezzanine financing, and private credit. Two original frameworks organise value-creation strategies, and real-world case studies span hospital systems, pharmaceutical services, medical devices, and digital health. Essential reading for students, PE professionals, healthcare executives, and sophisticated investors.
Quizzes
Multiple-choice and numerical questions, marked as you go, with the reasoning after each answer.
The LBO model
The working model from the book, as a spreadsheet you can open and edit, with a note on what changed since it went to print.
For instructors
Verified instructors get the model answers to every chapter exercise, links to the authors' published case studies, and a private channel to the authors.