Private equity (PE) is all over healthcare, with investment firms owning more than 400 hospitals around the US. But as the country faces a mental health crisis—US Surgeon General Vivek Murthy called it the “the defining public health crisis of our time”—PE has its sights set on one of the fastest-growing areas of the industry: behavioral health care.

PE has accounted for over 60% of all behavioral health deal flow since 2018, and firms like Thurston Group and Five Points Capital now own about a quarter of facilities offering behavioral health care in some states, according to a recent cross-sectional study published in JAMA Psychiatry.

A report by the nonprofit Private Equity Stakeholder Project (PESP) found that in 2023, there were 1,135 unique deals in healthcare involving 675 PE firms, business development corporations, venture capital firms, private credit funds, and other investors.

PESP reported that there were 44 behavioral health-specific deals in 2023. ARC Health—a behavioral health company backed by Thurston Group and Five Points Capital—made nine acquisitions in 2023, accounting for 20% of all behavioral health deals that year, according to PESP.

The interest in behavioral health comes as the need for such services has boomed.

Keep reading here.—CM

If you have outstanding credit card debt, getting a new 0% intro APR credit card could help ease the pressure while you pay down your balances. On top of all that, this top credit card offers an up to a whopping 5% cash-back perk that gets matched after your first year. That's up to 10% back on qualifying purchases in your first year! Click through to see what all the hype is about. Take advantage of this offer—learn how to apply now.

The US shells out so much cash for healthcare that it makes Jeff Bezos’s eccentric hobby budget seem like a paragon of restraint. And it looks like we’re only going to be spending more in the coming years.

With a record number of people insured and seeking healthcare services post-pandemic, US health spend growth is outpacing GDP growth, and is expected to keep doing so through 2032, according to a June 12 report from actuaries at the Centers for Medicare and Medicaid Services (CMS).

By 2032, CMS actuaries project healthcare spending will total $7.7 trillion and make up 19.7% of total US GDP, compared to $4.8 trillion and 17.6% of GDP in 2023.

Break it down

CMS actuaries estimate total US health spending grew 7.5% in 2023, due in part to the fact that an “unprecedented” 93.1% of the population was insured. That spike in coverage was largely thanks to federal policies allowing beneficiaries to stay on Medicaid through the public health emergency.

In comparison, nominal GDP grew 6.1%. This marks the first time health spend growth has outpaced GDP growth since 2020.

Keep reading here.—MA

Safety starts here. It’s Safety Month and summertime, which means cooling solutions are top of mind. With tools like thermostats and roof ventilators, Zoro’s vast lineup of products helps healthcare businesses stay properly equipped to prevent safety hazards. Stock up on Zoro.com for success during summer + beyond.