Private equity (PE) investment in health care has intensified over the past several years, particularly as PE investment in the global health care sector hit an all-time high in 2021 with the largest portion of investments in health care services in the United States. Although PE firms’ targeting of physician practices, hospitals and skilled nursing facilities has garnered much attention, PE investment in commercial institutional review boards (IRBs) has not received the same level of scrutiny to date. Given an IRB’s central role in evaluating the ethical aspects of research and protecting human subjects, the risks, benefits, and safeguards that should be implemented with regard to investment should be considered. Now is the time to capitalize on the January 2023 US Government Accountability Office Report (IRBs: Actions Needed to Improve Federal Oversight and Examine Effectiveness), which includes an examination of, and recommendations for, PE investment in commercial IRBs. This Briefing highlights the concerns raised by PE-backed IRBs as well as the positive impact of such investment.

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