2023 Health Report - McDermott Will & Emery


The healthcare industry, historically viewed as recession proof, has not been immune to the macroeconomic factors of 2023. The record-high valuations and frenetic deal activity of the past several years slowed midway through 2022 and healthcare companies, providers and investors are adjusting their expectations and strategies, all against a backdrop of regulatory scrutiny into healthcare mergers and acquisitions (M&A), investing and the end of the COVID-19 public health emergency (PHE).

Our team of industry-leading health lawyers and health policy insiders examined the industry across several sectors, reflecting on 2022’s most influential developments and how they will shape healthcare in 2023. In doing so, several key themes emerged:

  • Dealmaking is complicated but still possible
  • Shifting approaches to oversight
  • Evolution of care delivery continues
  • Creativity takes the front seat