London-based GHO Capital and Singapore-based CBC Group plan to merge in a deal that would create what the firms describe as the “world’s largest dedicated healthcare investment firm.” GHO has $10.5 billion assets under management, and CBC has $10.8 billion in assets under management.
IKS Health acquired healthcare AI startup ARAI to strengthen the technology underpinning its automation tools, as well as reduce its dependence on third-party AI models.
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Sanford Health signed a deal to acquire North Memorial Health, which could be its long-sought entry into the Twin Cities market. The move is the latest in a series of expansion efforts for the South Dakota-based health system.
A proposed merger between Atrium Health and WakeMed Health is facing an early delay, with county commissioners having postponed a key vote over transparency concerns. State officials are warning the deal could hurt competition and drive up healthcare costs in the Raleigh area.
Sutter Health is acquiring Allina Health in a deal that would create a $26 billion nonprofit health system spanning California, Minnesota and Wisconsin. The deal reflects a broader wave of hospital consolidation as providers pursue scale to manage rising costs and fund tech investments.
Danaher is acquiring Masimo in a $10 billion deal aimed at expanding its diagnostics portfolio and deepening its presence in acute care settings. The move reflects a broader industry shift toward consolidation and integrated care, as large healthcare companies seek scale and more continuous clinical data inside hospitals.
Premise Health and Crossover Health are merging to create a nearly $2 billion company. The partners plan to scale advanced primary care — an integrated bundle of primary care, behavioral health, pharmacy services and care navigation — for large self-insured employers.
Abbott’s $23 billion acquisition of Exact Sciences positions the company to become a major player in cancer diagnostics. Experts think the deal makes strategic sense, as it offers higher margins and a broader commercial scale — but questions remain about long-term growth amid rising competition and the challenges of integrating a patient-focused, tech-heavy business.
Datavant acquired Ontellus, a health records retrieval and claims intelligence company. This establishes a legal and insurance vertical to go along with Datavant’s three other verticals: payers, providers and life sciences firms.
Hospital M&A activity slowed quite a bit in the first half of 2025, with deal volume and transacted revenue falling sharply amid economic uncertainty and sweeping policy changes. While traditional mergers may remain sluggish, analysts expect a rise in outpatient partnerships and rural hospital conversions toward the end of the year.
Samsung announced plans to acquire Xealth, a startup that helps hospitals integrate digital tools into clinical workflows, as part of its broader push into U.S. healthcare. The deal reflects growing provider demand for tech solutions and comes amid newfound optimism in the digital health exit market.
Digital health funding held steady in the first half of 2025, with AI-focused startups capturing the majority of capital and driving rapid adoption among providers. The digital health space also saw two long-awaited IPOs as well as rising M&A activity, which are two signals of market maturity — but looming policy shifts may challenge long-term growth.
Nordic Capital acquired a majority stake in health data platform Arcadia. Together, the two aim to accelerate the company’s mission of advancing value-based care through AI and data analytics. Arcadia CEO Michael Meucci views the deal as both a validation of the company’s strategy and part of a broader wave of healthcare investments focused on interoperability, AI and payment reform.
Application rationalization shouldn’t be a cleanup project — it should be a pillar of the M&A investment thesis, with clear ROI tied to cost savings, risk mitigation, and innovation readiness.