At the same time, private equity is pouring capital into employer-sponsored direct primary care (DPC) platforms. Why private equity loves employer models more than retailRetail DPC must contend with household budget sensitivity, subscription churn, and continuous patient acquisition. Private equity invests in employer models precisely because they avoid retail’s vulnerabilities while capturing patients who previously paid out of pocket. What begins as one lost employer contract becomes sustained retail patient attrition as the platform’s employer footprint expands. Private equity is racing into employer DPC and executive concierge markets.