Insights

A Look at Recent Transactions Shaping the Future of Healthcare

This week's article provides a summary of recent healthcare M&A news for March 11, 2025.

The healthcare industry is rapidly evolving, with the lines between the healthcare technology and services sectors blurring - creating the catalyst for innovation, transformation, and continued market activity. TripleTree's Healthcare M&A Weekly summarizes recent mergers, acquisitions, and investments shaping the future of healthcare.

To view previous healthcare M&A activity, please review last week's post: Healthcare M&A Weekly - March 4, 2025.

• Ajax Health, a KKR-backed medical device platform, announced the formation of a new entity, FlowMod. The new organization is the result of a collaboration between Boston Scientific Corporation, Ajax Health, and KKR, utilizing IP developed by Boston Scientific. FlowMod intends to accelerate the creation, clinical validation, and regulatory approval for a system treating heart failure. Click here to learn more.
• BioMatrix Infusion Pharmacy, a provider in ambulatory and home infusion services and portfolio company of Frazier Healthcare Partners, acquired MyLyfe Health. MyLyfe Health specializes in specialty pharmacy, home infusion, and infusion suite services for patients with chronic, lifelong medical conditions. Learn more about the acquisition here.
• Bluebird Kids Health, a new healthcare services company designed to deliver value-based pediatric care, announced the closing of a $31.5M capital raise co-led by F-Prime and .406 Ventures, with participation from Autism Impact Fund and founding partner Juxtapose. Read the press release here.
• Boston Scientific (NYSE: BSX) entered into a definitive agreement to acquire SoniVie, a privately held medical device company that has developed the TIVUS™ Intravascular Ultrasound System, an investigational technology designed to denervate nerves surrounding blood vessels to treat a variety of hypertensive disorders, including renal artery denervation (RDN) for hypertension. Read more about the acquisition here.
• CareCloud, Inc. (Nasdaq: CCLD), a provider of cloud-based healthcare IT and AI-driven solutions, announced the acquisition of MesaBilling. Click here for more on the acquisition.
• Ensign Group (NASDAQ: ENSG) announced new acquisitions of skilled nursing and senior living across four states - Washington, Alaska, Oregon, and Arizona. These acquisitions bring Ensign’s portfolio to 340 health care operations including 43 senior living operations across 17 states - Oregon and Alaska being new to Ensign. View the announcement here.
• Jazz Pharmaceuticals (Nasdaq: JAZZ) and Chimerix (Nasdaq: CMRX) entered into a definitive agreement for Jazz to acquire Chimerix for $8.55 per share in cash, representing a total consideration of approximately $935M. Learn more about the agreement here.
• ModMed, a specialty-specific healthcare SaaS technology, announced that Clearlake Capital has made a significant majority growth investment in the Company. Read the press release here.
• Momentum Biotechnologies, a contract research organization specializing in mass spectrometry-based drug discovery, completed the acquisition of OmicScouts GmbH, a Munich-based CRO in the field of mass spectrometry-based proteomics, operating hereafter as OmicScouts, a Momentum Biotechnologies Company. Read more about the acquisition here.
• Novo Holdings and TA Associates have entered into an agreement for Novo Holdings to make an investment in Biocomposites, an international medical devices company that engineers, manufactures and markets products for use in infection management in bone and soft tissue. Learn more about the investment here.
• Ntracts, a contract lifecycle management (CLM) solutions company, acquired Compliatric, a regulatory, accreditation, and compliance management technology for healthcare organizations. Click here for more on the acquisition.
• Peak Rock Capital, a middle-market private equity firm, completed the acquisition of BrightStar Group, a franchisor of home care services with over 400 agencies nationwide. Read more about the acquisition here.
• Rimkus Consulting Group, a global provider of engineering, technical consulting, and life science services, acquired Human Factors Consulting, a highly regarded firm specializing in proactive human factors services and medical device consulting. Read the press release here.
• Sila Realty Trust, Inc. (NYSE: SILA), a net lease real estate investment trust with a strategic focus on investing in the growing and resilient healthcare sector, announced the $35.12M acquisition of an inpatient rehabilitation facility located in Knoxville, TN. Click here to learn more.
• Surgimate, a provider of surgical coordination software backed by Banneker Partners, invested in ImplantBase, a provider of inventory logistics and sales operations software for medical device companies and their distributor networks. Learn more about the investment here.
• Boston-based The Stepping Stones Group has acquired Gallagher Pediatric Therapy. Gallagher Pediatric Therapy, based in Fullerton, California, offers occupational and physical therapy in school, home and community settings. Read more about the acquisition here.
• Uplift Hospice acquired Star of Texas Hospice. The transaction will bring Uplift’s average daily census up to 450 across three states - Arizona, Nevada, and Texas. Click here to learn more.
• U.S. Physical Therapy (NYSE: USPH), a national operator of outpatient physical therapy clinics and provider of industrial injury prevention services, acquired a physical therapy practice with three clinic locations in Wyoming, which currently generates approximately $4.3M in annual revenues and 23,000 annual visits. Click here for more on the acquisition.
• Walgreens Boots Alliance (NASDAQ: WBA) entered into a definitive agreement to be acquired by an entity affiliated with Sycamore Partners, a private equity firm specializing in retail, consumer and distribution-related investments. The total value of the transaction represents up to $23.7B. Click here to learn more.
• Wellvana and CVS Health (NYSE: CVS) announced that WellVana has acquired the Medicare Shared Savings Program (MSSP) business of CVS Accountable Care, part of CVS Health, in an all-stock transaction. View the announcement here.
• Yapi, a provider of patient engagement solutions for dental practices, and DoctorLogic, a marketing platform created exclusively for healthcare providers, announced the combination of the two businesses, which will deliver a more powerful platform to manage the patient journey, from acquisition to ongoing engagement. Read the press release here.

Transactions outlined in this summary highlight some of the key trends shaping the future of healthcare. Get the latest industry news from TripleTree every week.

This is a partial list of transaction activity across the healthcare industry and is not intended to be a complete listing. Transaction information was identified from various sources and TripleTree may or may not have acted as the financial advisor for the transactions listed. All product names, logos and brands are property of their respective owners. All company, product and service names used in this communication are for identification purposes only. Use of these names, logos and brands does not imply endorsement.