Prashant Reddy

You are listening to McKinsey on Healthcare, a podcast dedicated to showing the latest trends, insights and innovations shaping the healthcare industry.

I'm Prashant Reddy, a senior partner in McKinsey's New Jersey office and your host for this episode.

Today, I'm joined by Matt Holt, who is the managing director and the president of private equity at New Mountain Capital.

His work focuses on growth buyouts across a range of industries, including healthcare technology, healthcare products, life sciences materials, and sustainable infrastructure.

Five years ago, Matt and I sat down for our first McKinsey on Healthcare podcast, where we talked about how healthcare investing can drive innovation.

I caught up with him just recently to discuss how the industry and investing has changed since 2020.

Matt, it's great to catch up again.

It's been five years since our last McKinsey on Healthcare podcast, where we talked about healthcare investing.

Much has changed since those pre-COVID days, but then again, much hasn't.

I'm looking forward to diving in and hearing your thoughts.

I'd like to start by maybe looking back at how things have changed in the past five years, and then I'd like to ask you questions on what you think needs to change in the next five or 10 years for us to address the biggest challenge in healthcare today and to transform the industry for a better tomorrow.

Welcome.

Superb.

Maybe we have just two sections on this, the look back and then the look forward.

So first, how have the core tenets of your investing framework evolved over the past five years, if at all?

And how do you see this playing out going forth?

expanded and specific, which I like the combination.

We'll discuss those, I think, in the second half of the podcast.

Maybe just to pull us back into just a broader macro view.

So private capital continues to play an increasing role in healthcare and life sciences.