2022 proved to be a year that did not live up to everyone’s expectations. Riding on a wave of furious M+A activity in 2021, the initial optimism was met with bewilderment as buyers became increasingly selective and cautious in the transaction process as they sought to mitigate risk. Deals that were expected to be straightforward experienced headwinds that led to a less-than-robust conclusion to the year. Larger global economic issues, the continuing pandemic, and uncertainty in the political sphere undoubtedly influenced the healthcare M+A market. However, we are already seeing signs of change in 2023. Deal activity is up and buyers still have a lot of dry powder to deploy. The VERTESS team is pleased to offer its annual year-end review as well as the future outlook for each of the healthcare verticals our Managing Directors support. We look forward to new challenges and successes in 2023!