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June 04, 2023 | Tom Ballard

Healthcare IT returns to more bullish outlook

PitchBook's Q1 "Healthcare IT Report" suggests that is the case particularly for Generative AI and tech that supports interoperability

In its Q1 “Healthcare IT Report,” PitchBook notes that venture capital deals in healthcare information technology (IT) have picked up from the vertical’s low point in late 2022, with 70 rounds accounting for about $1.3 billion raised in Q1.

“They’re not blockbuster numbers, but the outlook for healthcare IT deals is bullish, particularly for Generative AI and tech that supports interoperability,” the preview of the report explains. There are three key takeaways:

  • Key Generative AI (artificial intelligence) partnerships involving Microsoft, Epic, and Open AI are drawing attention in the buzziest corner of the vertical;
  • Amid venture capital (VC)volatility, private equity (PE) deal activity has been more resilient, particularly as PE firms have branched out into hefty, late stage VC rounds; and
  • Some of the most promising healthcare IT applications solve data-related problems: interoperability and synthetic data.

The preview can be downloaded at this link.

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