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 27, 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 20, 2025.

• Advanced Instruments, a manufacturer of analytical instruments for the biopharmaceutical and clinical markets, announced the execution of a definitive agreement to acquire Nova Biomedical, a manufacturer of innovative analytical instruments and consumables that are vital in guiding the treatment of patients and the development of biotechnology therapeutics. The transaction values Nova Biomedical at $2.2B, including debt. Following the closing of the transaction, Advanced Instruments and Nova Biomedical will merge. Click here to learn more.
• Ampersand Biomedicines, a multi-product platform company developing smarter medicines that act specifically at the site of disease and nowhere else, announced it has secured $65 million in Series B funding from investors including Ampersand’s founder, Flagship Pioneering, Eli Lilly & Company, and several additional new investors. View the announcement here.
• Arbor Biotechnologies, a biotechnology company discovering and developing genetic medicines, announced the closing of a $73.9M Series C financing to support the advancement of its pipeline of novel gene editing therapeutics targeting diseases in the liver and central nervous system (CNS). ARCH Venture Partners and TCGX led the financing, with participation from new investors QIA, Partners Investment, Revelation Partners, and Kerna Ventures. Learn more about the investment here.
• Archer Review, a health care education company and a portfolio company of Leeds Equity Partners, has acquired OnlineMedEd, a provider of medical education curriculum and supplemental education solutions designed to support students and medical schools alike. Click here to learn more.
• AstraZeneca entered into a definitive agreement to acquire EsoBiotec, a biotechnology company pioneering in vivo cell therapies that has demonstrated promising early clinical activity. Read more about the agreement here.
• Avista Healthcare Partners completed the sale of Solmetex, a provider of dental products, systems, and consumables such as amalgam separation, waterline safety solutions, dental isolation technology, and regenerative biomaterials, to AGIC Capital, a global private equity firm. Click here to learn more about the sale.
• Cactus, a strategic consultancy & design firm working with healthcare organizations, startups, and wellness brands around the globe, acquired Lightmatter, a healthcare software engineering firm. Read more about the acquisition here.
• Caldera Medical, a developer and manufacturer of women's health medical devices, has acquired Ethicon’s Gynecare TVT family of products and will transition the products in the coming months. Read the press release here.
• Clario, a provider of endpoint data solutions to the clinical trial industry, acquired NeuroRx, an imaging provider with expertise in diseases impacting the Central Nervous System (CNS), such as multiple sclerosis, Huntington's, Parkinson's, Alzheimer's, and other rare neurological diseases. Learn more about the acquisition here.
• DispatchHealth, a provider of high-acuity, in-home medical care for people experiencing serious health concerns, entered into a definitive agreement to merge with Medically Home, an established hospital-at-home technology enablement model for health systems and physician groups to safely provide emergency and hospital-level care at home for qualified patients. Click here to learn more.
• The Doctors Company, the nation’s largest physician-owned medical malpractice insurer, and ProAssurance Corporation (NYSE: PRA), a specialty insurer with extensive expertise in medical liability, products liability for medical technology and life sciences, and workers’ compensation insurance, entered into a definitive agreement under which ProAssurance will be acquired by The Doctors Company. View the announcement here.
• Fifty 1 Labs, a holding company in the health, wellness, and biotech sectors, acquired Genetic Networks, a Delaware-based biotech firm founded by Dr. Gennaro D'Urso, for a purchase price of $10M paid in common shares. Read more about the acquisition here.
• Forcura, the intelligent workflow management company, and Medalogix, a clinical decision support company, announced that they have combined. Berkshire Partners will be the majority owner of the combined organization, and The Vistria Group will be the largest minority shareholder in the transaction. Read the press release here.
• Frazier Healthcare Partners, a Seattle-based, healthcare-focused private capital firm, announced a passive, minority investment from Petershill at Goldman Sachs Alternatives (Petershill). Click here for more on the investment.
• Infinx, an AI-powered revenue cycle management solution, acquired Glidian, a provider of prior authorization automation solutions for the laboratory space. Learn more about the acquisition here.
• InformedDNA, a precision health company focused on the application of genomic insights, acquired Coriell Life Sciences, a provider of pharmacogenomic services and clinical decision support. Read the press release here.
• Inspiren, a N.Y.-based provider of AI tools for senior living, raised $35M in Series A funding. Avenir led, and was joined by Primary Venture Partners, Story Ventures, Third Prime, and Studio VC. Click here to learn more.
• iOncologi, a clinical-stage biopharmaceutical company focused on advancing immunotherapy platform technologies, announced the acquisition of TargImmune Therapeutics, a biotechnology company specializing in novel tumor targeted immunotherapies. Read more about the acquisition here.
• KnowFully Learning Group, a provider of continuing professional education, exam preparation, and digital learning solutions for the accounting, finance, and healthcare sectors, acquired EfficientCME, a provider of continuing education for healthcare professionals. Learn more about the acquisition here.
• Knox Lane, a growth-oriented investment firm, announced a significant strategic investment in Healthcare Experts Squared (HCEsquared), an education, information and services platform serving healthcare professionals to ultimately elevate patient care. View the announcement here.
• Latigo Biotherapeutics, a Thousand Oaks, CA-based developer of non-opioid pain management drugs, raised $150M in Series B funding. The round was led by Blue Owl Capital, with other participants including Deep Track Capital, Access Biotechnology, Qatar Investment Authority and Sanofi Ventures. Click here to learn more.
• Maxion Therapeutics, a British developer of antibody-based drugs for ion channel and GPCR-driven diseases, raised $72M in Series A funding. The round was led by General Catalyst with additional investment from new investors, British Patient Capital, Solasta Ventures, and Eli Lilly and supported by existing investors LifeArc Ventures, Monograph Capital, and BGF. View the announcement here.
• MicroTransponder, an Austin, TX-based developer of stroke rehabilitation neurostimulators, raised $65M in Series F funding. The funding round was led by US Venture Partners, and included new backers in Gilde Healthcare and Longitude Capital, as well as returning investors from Osage University Partners, Action Potential Venture Capital, GPG Ventures, The Vertical Group, and Exceller Hunt Ventures. Read the press release here.
• Pandion Optimization Alliance, a national Group Purchasing Organization (GPO) focused on driving cost savings and value for its members, acquired Blackmaple Group, a purchasing organization specializing in independent physician practices and women’s healthcare. Learn more about the acquisition here.
• Paratek Pharmaceuticals, a pharmaceutical company providing specialty therapies for community care providers and specialists, announced a definitive merger agreement with Optinose (NASDAQ:OPTN), a specialty pharmaceutical company focused on serving the needs of patients cared for by ear, nose, and throat (ENT) and allergy specialists. The transaction value is up to $330M, with consideration payable to shareholders of up to $14 per share, including the payment of contingent value rights (CVRs) tied to future commercial milestones. Read more about the merger agreement here.
• Phoenix DeVentures, a provider of product development and turn-key manufacturing services in the MedTech sector, will be acquired by INDO-MIM, a precision component manufacturer. Click here to learn more.
• Proscia, a Philadelphia-based provider of pathology digitization software, raised $50M from Insight Partners. Read more here.
• PTP, a provider of cloud consulting and managed services, acquired Stratogent, a provider of managed IT services. Learn more about the acquisition here.
• Qualified Digital, a full-service digital business and experience agency, acquired Xpediant Digital, a provider of content supply chain automations for Pharma and Life Sciences as a services and product partner. Read more about the acquisition here.
• Sanofi (NASDAQ:SNY), a global pharmaceutical company, and Dren Bio, a private clinical-stage biopharmaceutical company, entered into a definitive agreement under which Sanofi has agreed to acquire DR-0201, a targeted bispecific myeloid cell engager (MCE) that has shown robust B-cell depletion in pre-clinical and early clinical studies. Click here to learn more.
• Trinity Hunt Partners, a growth-oriented private equity firm, invested in TNT Dental, a digital marketing agency focused on SEO, paid media services, and website development for dental practices nationwide. Learn more about the investment here.
• UniDoc Health, a provider of eHealth solutions, entered into a definitive purchase agreement for the acquisition of the AGNES Connect, a secure, encrypted, cloud-based clinical examination platform. Click here to learn more.

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.