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 May 15, 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 - May 8, 2025.

• Ankura Consulting Group, a global expert services and advisory firm, acquired Sachs Policy Group, a New York-based advisory firm focused on the crossroads of public policy, technology, and business strategy within the healthcare sector. Read more about the acquistion here. 
• Doktorconnect, a preventative health care company, acquired VitalFlo, a proactive respiratory care technology platform. Learn more about the acquisition here. 
• Doxy.me, a HIPAA-compliant telehealth platform trusted by over a million providers worldwide, acquired and relaunched Telehealth.org with the mission of becoming the definitive hub for telehealth education, CME/CE training, compliance, consulting, and telehealth news across all areas of healthcare. Read the press release here. 
• DSN Software, a practice management solution for oral surgeons, acquired OMS Billing Solutions, a provider of billing and revenue cycle management services tailored for specialty dental practices. Click here for more about the acquisition.
• ENT Partners, a prominent physician practice management Company specializing in ear, nose, throat, sleep medicine, and facial plastics, acquired Currence Physician Solutions, a firm focused on revenue cycle management and financial analytics. View the announcement here. 
• Fullscript, a healthcare platform powering whole person care, announced an expanded investment from HGGC and Snapdragon Capital Partners to support its next phase of growth. The new capital was supported by a continuation vehicle led by Leonard Green & Partners as the sole lead investor. Read more about the investment here. 
• Function Health, a personal health platform providing annual lab testing, acquired Ezra, provider of an FDA-cleared AI technology that makes full body MRI scanning faster and more affordable. Click here to learn more.
• GHR Healthcare, a healthcare staffing solutions company, acquired Barton Healthcare Staffing, the nurse and allied health staffing affiliate of Barton Associates. Learn more about the acquisition here. 
• The Hardenbergh Group, a provider of credentialing, physician peer review and consulting services, announced its merger with Sentact and Preverity, and the planned unification of the three high-performing organizations into a single, integrated brand under the Sentact name. The combined organization is supported by strategic investment from BV Investment Partners. Click here to learn more. 
• Infinx Healthcare, a provider of AI-powered solutions for patient access and revenue cycle management, acquired the Healthcare Revenue Cycle Management Business of i3 Verticals. Read more about the acquisition here. 
• MIB, operator of a specialty consumer reporting agency for the life insurance industry, acquired Clareto, a life insurance industry source of electronic health records, from Munich Re Life US. Learn more about the acquisition here.
• Nerva, a digital therapeutic for Irritable Bowel Syndrome (IBS), acquired key assets of Mahana Therapeutics, a pioneer in digital therapies for chronic conditions, including IBS. Click here to learn more.
• NexPhase Capital, an operationally focused private equity firm, acquired Behavior Frontiers, a provider of Applied Behavior Analysis (ABA) treatment services for individuals with autism and other special needs across 12 states. TripleTree served as exclusive financial advisor to Behavior Frontiers for this transaction. View the announcement here.
• OMS360 announced its expansion into Pennsylvania through a new partnership with Pittsburgh Oral Surgery, an oral and maxillofacial surgery practice serving patients across the city of Pittsburgh and surrounding communities with four locations. In conjunction with this new partnership, OMS360 is pleased to announce a growth recapitalization transaction, featuring a new credit facility provided by TPG Twin Brook Capital Partners. Click here to learn more. 
• Safe Life, a provider of life-saving solutions with operations across Europe and North America, announced the acquisition of HeartCert, a Minnesota-based company specializing in automated external defibrillators (AEDs), CPR and CNA training (State Certified Nursing Assistants). Learn more about the acquisition here. 
• SETWorks, a software provider for disability service agencies and human services providers, secured a strategic growth investment from Polaris Growth Fund. Read more about the investment here. 
• SUN Behavioral Health, a provider of inpatient and outpatient psychiatric services based out of Ohio, acquired the home- and community-based services division of Seaside Healthcare, a behavioral health provider across North Carolina, South Carolina, Georgia, Louisiana, Texas, and Virginia. Click here for more on the acquisition.
• Supreme Group, a healthcare and life sciences marketing and communications firm, acquired Nimble Works and its sister agency Vital Works, agencies known for helping health tech and biopharma brands simplify complexity and move with speed. Read the press release here. 
• TeleMed2U, a tele-specialty care company focused on leveraging technology and end-to-end patient services to deliver high-quality affordable care, announced the acquisition of SIGMA Tactical Wellness, a company focused on reducing cardiovascular risk in the public safety sector. Learn more about the acquisition here. 
• T&R Recovery Holdings, a provider of comprehensive mental health and addiction treatment services, is pleased to announce the closing of a non-controlling investment from Genesis Park, through its investment fund, GP Capital Partners, LP, and Cyprium, through its investment fund, Cyprium SBIC I LP. Click here for more on the investment. 
• Viemed Healthcare (NASDAQ: VMD), an in-home clinical care provider of post-acute respiratory healthcare equipment and services, entered into a definitive agreement to acquire Illinois-based Lehan’s Medical Equipment, a healthcare company offering home medical equipment with specialties in respiratory care and women’s health. View the announcement here. 
• Vitable Health, an all-in-one health benefits platform making healthcare more accessible to small businesses and their employees, acquired Liferaft's HRA platform. Read more about the acquisition here. 
• Vora Ventures, a Cincinnati-based private equity firm, acquired Hive Networks, a healthcare technology platform transforming care for patients with rare and chronic conditions through Learning Health Networks. Learn more about the acquisition here. 
• Weave, a customer experience and payments software platform for small and medium-sized healthcare businesses, signed an agreement and plan of merger to acquire TrueLark, an AI-powered receptionist and front-desk automation platform. Click here to learn more about the agreeement. 

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.