It can only happen where there is real entrenched power and companies do not have to be competitive.
Most 'private companies' are not at the scale where they have that.
I would imagine that 'Healthcare' is rife with this kind of thing, they are cash flush, and the outcomes are intangible but existential (like defence).
I can't imagine people playing solitaire at any kind of Health insurer etc. but I can certainly imagine them spending gazillions on boondoggles.
I have a family member who does 'BD' for Health Care, I'm certain from years of chats with her that she does nothing. Meets, plans, talks about possible future plans with other corps, they never work out. Looks into 'strategic initiatives' that are secondary and irrelevant. She's paid handsomely. And she's pretty smart, great communicator, certainly not a 'solitaire player' ... but about as efficient. And FYI I'm aware of how even 'good' BD works, and that it's mostly 'misses'.
