The Carlyle Group and Apollo Global Management announced deals with investment firms specializing in life science. Carlyle hooked up with UK based Abingworth while Apollo is pairing with Paris' Soinnova. Life Sciences covers:
The life sciences industry comprises companies operating in the research, development and manufacturing of pharmaceuticals, biotechnology-based food and medicines, medical devices, biomedical technologies, nutraceuticals, cosmeceuticals, food processing, and other products that improve the lives of organisms.
Carlyle grew a substantial COVID-19 portfolio before striking the Abingworth deal. Apollo is the latest private equity underwriter (PEU) to make a deal in the sector.
Governments are major payors for healthcare services and neither Apollo or Carlyle want to pay their fair share of taxes. That is not expected to change given:
Politicians Red and Blue love PEU, and increasingly, more are one.
Update 5-19-22: Naked Capitalism published a piece on the PEU boys siphoning off the lifeblood of healthcare companies.
