Daily Briefing

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Around the nation: Private equity's healthcare pullback


According to a new PitchBook report, the number of private equity healthcare deals has declined from 2025 to 2026 and could reach the lowest number since 2017 by the end of the year, in today's bite-sized hospital and health industry news from Maryland, Texas, and Washington.

  • Maryland: FDA has authorized the first standalone robotic device designed to draw blood from a patient without needing hands-on operator intervention. The device, which was created by Vitestro and called Aletta, is authorized for adults in outpatient settings. The device must be operated under the supervision of a trained phlebotomist. One phlebotomist can oversee up to three Aletta devices simultaneously. The device uses near-infrared light and Doppler ultrasound to locate a suitable vein before applying a tourniquet, preparing the skin, and collecting blood from a patient. According to FDA, clinical data showed that Aletta was able to successfully draw blood at rates that were comparable or higher than those of trained phlebotomists. Adverse events related to the device were also uncommon and mild. (Jeffries, Becker's Hospital Review, 8/19)
  • Texas: Oracle has launched a new AI-backed patient portal that can help patients review their medical records, engage with providers, and more. The portal was built using foundation models from OpenAI and is fully integrated with Oracle's EHR system. It also includes guardrails to prevent the AI from providing medical advice or offering patients diagnoses or treatment recommendations. AI-generated text is also highlighted to clearly differentiate it from provider notes. The patient portal is part of Oracle's ongoing effort to differentiate itself in the EHR market. Previously, the company launched an AI-backed EHR in August 2025. Through the EHR, clinicians can use voice commands to access patient information and generate summaries. Currently, the AI-backed EHR is only available to ambulatory providers in the United States. However, Oracle plans to launch a new EHR for the acute care market this year. (Hughes, Healthcare Dive, 8/12)
  • Washington: According to a new PitchBook report, the number of private equity healthcare deals declined by almost 19% in the second quarter of 2026 compared to the same time in 2025. There was also slow deal activity in the first quarter of the year, and 2026's deal count is currently on track to be down 26.5% from 2025. Deals for physician practice management (PPM) companies were especially weak, with only 71 deals in Q2 compared to 89 in Q1 and 102 in Q4 of 2025. This decline in PPM acquisitions may be partly due to increased scrutiny of private equity involvement in PPMs. The current projected deal count for the first half of 2026 is 337, with an annualized level of 674. This projected annual deal count would be lowest PitchBook has seen since 2017. However, PitchBook said it expects there to be a rebound in deals soon. "It's hard to imagine that things stay at such a depressed level," said Brian Wright, lead research analyst of healthcare at PitchBook. "We expect mean reversion going forward." (Gliadkovskaya, Fierce Healthcare, 8/19)

Radio Advisory episode: Is private equity healthcare's bad guy?

Host Rachel Woods talks with Advisory Board’s Sarah Hostetter and Vidal Seegobin about how private equity can be a good and not-so-good partner to healthcare organizations and how leaders can cultivate a successful PE partnership.


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