Key Insights from J.P.Morgan's 'Trends driving the healthcare industry today' report. Private Equity Capital Has Re-entered the Market: Healthcare private equity reached record global deal values in 2025, supported by roughly $1.3 trillion in dry powder sitting on the sidelines waiting to be deployed. Deal Math and Return Thresholds Have Reset: Market dynamics have tightened significantly, with distributions to Limited Partners (LPs) standing around 15% of Net Asset Value (NA