As demographic shifts heighten demand and artificial intelligence (AI) transforms the care continuum, investors like Advent are helping close the gap between breakthrough technologies and the realities of healthcare delivery. In this conversation, John Maldonado discusses how Advent is harnessing this integrated approach to deliver innovation across global healthcare markets.
What are the key trends you are currently focused on in the healthcare sector?
It’s not a new trend, but one of the most significant challenges in the US right now, is our aging population and the resulting increased demand for healthcare services. The supply and availability of caregivers is unable to keep pace, and this is creating pressure across the system.
Another key trend is AI, which is impacting every part of the healthcare value chain — from diagnostics, image analysis, and personal care, right through to clinical decision making. There’s an ever-increasing need to align innovation with the delivery of high-quality care.
Can you elaborate on the role innovation has to play in the delivery of healthcare?
Innovation has a huge role to play. At Advent, we think about tech and healthcare investing not as two separate organisms, but one. When looking at opportunities in healthcare IT, and for increased AI utilization by provider and informatic businesses within healthcare, we bring the DNA from a tech team that’s got great experience, grittiness, and understanding of the fundamental business models. We then marry the domain expertise of our healthcare team, who have a deep understanding of the end users of these software and data tools. By harnessing the combined strength of both sectors, we think we bring unique insights.
Healthcare systems vary widely across geographies. How does Advent’s global platform influence your approach?
Healthcare systems vary widely, particularly when it relates to different payer systems. Even in product-driven businesses like diagnostics, medtech, and pharma services, success is not just about scaling a product – it’s about integrating into existing care models and supporting local clinicians. Advent’s global network enables us to share practical learnings and experiences across markets. A great example of this is our work in pharma services. We have invested in contract research organizations in both the US and China, as well as pharmaceutical manufacturing businesses in India, China, Europe, and the US.
In your view, what makes a good deal?
For us, a good deal starts with identifying the right ‘neighborhood – a market with strong tailwinds and meaningful opportunity. Within that, we look for a ‘great house’ – a company with potential to reach a new level of performance. Finally, there must be alignment – the ‘will’ – where the company’s needs match what Advent can deliver, whether through our Operating Partner network, or intellectual property. That’s how we build businesses with multiple exit options, from strategic buyers to other sponsors, not just IPOs.
