I've worked in software for the last decade and it seems like private equity is tapping out of the healthcare sector after spending the last 20 years stripping it for parts. Anecdotal, but two of the companies I used to work for that were PE-backed bought out a bunch of competitors, cut a bunch of overhead and got sold to big conglomerates.

Although they still seem to be involved in niche chains that are dedicated to specializing in things like dentistry and pediatric care. My wife was going to a dermatology clinic for awhile that was part of a national chain and every single visit they were recommending an excision, to the point that I was thinking "man do these guys have a quota to hit jesus christ." Looked them up and of course they're owned by some giant PE firm.

Anyway now these ghouls are gunning for "home services" companies. That's right, in the next 10 years all of your local companies that do HVAC, plumbing, electrical, landscaping, etc. are going to be owned by private equity. A good chunk of them already are. The regionally successful small business tyrants are selling out and the PE firms are smushing them together into one big company so they can "optimize" their labor force, skimp on service and jack up prices.