Becker Private Equity & Business Podcast Summary
Episode: A Look at Mid-Year Healthcare Transactions and Talent Strategy with Holly Buckley of McGuireWoods LLP
Host: Scott Becker
Guest: Holly Buckley, Chair of the Healthcare Department at McGuireWoods LLP
Release Date: July 22, 2025
Introduction
In this insightful episode of the Becker Private Equity & Business Podcast, host Scott Becker welcomes Holly Buckley, a prominent figure in the intersection of private equity and healthcare. As the chair of the healthcare department at McGuireWoods LLP, Holly brings a wealth of knowledge and expertise to the discussion, focusing on the current landscape of healthcare transactions and talent strategies for the remainder of the year.
Overview of McGuireWoods' Healthcare Department
Holly Buckley begins by providing an overview of her role and the comprehensive capabilities of McGuireWoods' healthcare department.
"We are one of the oldest healthcare departments in the country. We have about 50 attorneys doing nothing but healthcare. And we really live at the intersection of healthcare providers, healthcare investors, healthcare lenders, and we have a growing expertise in FDA and life sciences."
— Holly Buckley [00:31]
She emphasizes the department's national reach and its pivotal position in facilitating various stakeholders within the healthcare sector.
Current Healthcare Deal Activity
Scott initiates the conversation by addressing the recent fluctuations in the deal market, noting a robust big deal market contrasted by a slower mid-sized deal segment.
Holly responds by highlighting a significant uptick in deal volumes, especially within the lower and middle market segments.
"In the last months we've seen just a really big uptick in deal volume on kind of not the mega deals, on just the standard lower market and middle market deals... We're seeing really good interest and volume around specialties that bring healthcare into the home."
— Holly Buckley [01:21]
She points out specific areas gaining traction, including home health, hospice, infusion services, and digital health solutions aimed at reducing healthcare costs.
"We're seeing a lot more on the private equity side."
— Holly Buckley [02:38]
Private Equity vs. Strategic Buyers
Delving deeper, Scott inquires about the primary buyers in the practice acquisition market, questioning the roles of private equity firms versus strategic buyers such as insurance companies or health systems.
Holly elucidates that while strategic buyers like Cardinal Health remain active, private equity firms are increasingly prominent in the roll-up strategies within the sector.
"We're definitely seeing strategic activity as well. But... we're seeing a lot more on the private equity side."
— Holly Buckley [02:38]
She cites Cardinal Health as a prime example of a strategic player actively engaging in acquisitions.
Resurgence of Bolt-On and Add-On Acquisitions
Addressing concerns about previous slowdowns in bolt-on acquisitions due to high-interest rates and low margins, Scott probes whether there is renewed activity in this area.
Holly affirms the resurgence, attributing it to pent-up demand and available dry powder in the market.
"We're starting to see in the back half of the year more loosening and more folks looking to transact and plan on closing things before the end of the year."
— Holly Buckley [03:35]
She notes that while the pace has moderated, there is a disciplined and strategic approach to new acquisitions.
Focus and Outlook for the Second Half of the Year
Scott shifts the discussion to Holly's personal focus and the broader strategic priorities of McGuireWoods for the latter half of the year.
Holly highlights two main areas:
-
Healthcare Into the Home: Continuing strong deal activity in home health and behavioral health sectors.
"Deals... bringing kind of healthcare into the home. I've got a lot of them on my plate as well as some behavioral health deals."
— Holly Buckley [04:16] -
Talent Acquisition: A renewed emphasis on recruiting high-quality attorneys to bolster the department's expertise and maintain cultural fit.
"We're very focused on continuing to recruit really high quality attorneys who are a great cultural fit with us."
— Holly Buckley [04:16]
She mentions a strategic pivot back to lateral recruiting after integrating new hires earlier in the year, signaling growth and expansion within the team.
Conclusion
The episode concludes with Scott expressing appreciation for Holly's valuable insights into the dynamic healthcare transaction landscape and the strategic initiatives at McGuireWoods. Holly echoes the sentiment, underscoring the collaborative and forward-thinking approach of her team.
"Thank you."
— Holly Buckley [05:15]
This episode provides a comprehensive overview of the current trends in healthcare private equity, emphasizing the resurgence in mid-sized deals, the active roles of both private equity and strategic buyers, and the strategic focus on expanding expertise and talent within the healthcare department.
Key Takeaways:
- Increased Deal Volume: A notable rise in lower and middle market deals, particularly in home health and digital health sectors.
- Private Equity Dominance: While strategic buyers remain active, private equity firms are increasingly driving roll-up strategies.
- Resurgence in Acquisitions: Bolt-on and add-on acquisitions are gaining momentum due to pent-up demand and available capital.
- Strategic Focus: McGuireWoods is prioritizing deals that innovate healthcare delivery and is actively recruiting top legal talent to support growth.
For those interested in the evolving landscape of healthcare private equity and strategic legal insights, this episode offers valuable perspectives from a seasoned industry leader.