Everyone said 2026 was going to be the year the healthcare M&A floodgates finally opened. Five months in, they haven’t. So what’s actually going on?
In this episode of the Skytale Insights Podcast, Ben Hernandez sits down with Camilo Horvilleur, Managing Director, Co-Head of Small-Cap & Growth Buyout, and Head of U.S. Healthcare at H.I.G. Capital, to discuss the realities behind today’s deal environment and explore the most important 2026 healthcare M&A trends shaping the market.
With nearly two decades of investment experience and leadership over healthcare investing initiatives at one of the world’s largest alternative investment firms, Camilo brings a unique perspective on how private equity investors are evaluating opportunities, navigating uncertainty, and identifying long-term growth themes across healthcare. H.I.G. Capital manages more than $75 billion of equity capital and has spent over three decades partnering with founder-led businesses across a wide range of industries.
Together, Ben and Camilo discuss:
- The current state of the healthcare deal market and why 2026 has been more balanced than many anticipated
- Key 2026 healthcare M&A trends influencing buyer and seller behavior
- Which healthcare sectors are attracting investor interest and where capital is becoming more selective
- The secular growth themes driving investment activity, including fertility, aesthetics, and other high-growth healthcare segments
- How due diligence expectations have evolved since the COVID-era transaction boom
- What founders should be doing today to maximize value and prepare for a future transaction
- Common misconceptions business owners have about market timing and exit readiness
- The qualities investors look for when evaluating founder-led healthcare businesses
- Camilo’s outlook for healthcare private equity activity through the remainder of 2026 and into 2027
Whether you’re actively considering a transaction, evaluating growth opportunities, or simply trying to better understand the healthcare investment landscape, this conversation provides practical insights into how experienced investors are assessing risk, identifying opportunity, and navigating today’s market.