A Look at Recent Transactions Shaping the Future of Healthcare
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 - July 8, 2025.
Advent International announced its agreement to sell Spain-based dental chain Donte Group to Ontario Teachers’ Pension Plan (OTPP), valuing the business at €1 billion (~$1.2 billion). Read more about the agreement here.
Aptar Pharma, a company focused on drug delivery and active material science solutions and services, announced its acquisition of the clinical trial materials manufacturing capabilities of Mod3 Pharma (fka Enteris Biopharma) from SWK Holdings. Learn more about the acquisition here.
Arthur J. Gallagher & Co. announced the acquisition of Emmaus, Pennsylvania-based Equinox Agency, an employee health and benefits consulting firm serving businesses in Pennsylvania’s Lehigh Valley. Click here for more on the acquisition.
Centerstone and Brightli, two of the largest behavioral health and addiction treatment nonprofits in the US, will merge into a single organization in December. The deal is expected to create an organization with a combined annual revenue of $1 billion. View the announcement here.
EndoQuest Robotics, a developer of endoluminal robotic surgical technology, closed a Series D-2 financing round. Read the press release here.
ESSA Pharma announced that it has entered into a definitive agreement with XenoTherapeutics (Xeno), a non-profit biotechnology company, under which Xeno will acquire all of the issued and outstanding common shares of ESSA. Click here to learn more.
Evestia Clinical has merged with Atlantic Research Group, a US-based CRO, to create an independent global specialist CRO group in fast-growing markets. Read more about the merger here.
evolvedMD, a collaborative care management provider, announced the close of its $34M Series B investment led by Sustainable Investing at Goldman Sachs Alternatives. Existing investors Conductive Ventures, FCA Venture Partners, Heathworx Ventures, Tectonic Ventures, and Waterline Ventures also participated in the round. Learn more about the investment here.
FFL Partners announced the completion of the merger of its two portfolio companies Abacus Group and Medicus IT to create a new multi-vertical IT managed services provider (MSP) exclusively focused on financial services and healthcare. View the announcement here.
Fellow Health, a company focused on advancing male reproductive health through patient-centric testing solutions, announced the close of a $24 million Series B financing round led by 5AM Ventures, with new participation from The Forest Road Company. Read the press release here.
Flagship Specialty Partners, a support organization for full-scope oral surgery practices across the Southeast, has announced a new partnership with South Florida Dental Impact & Facial Surgery Center in Fort Lauderdale, Florida. Click here to learn more.
GT Medical Technologies, a medical device company working to help patients with brain tumors, announced that it has completed the close of its oversubscribed $53 million Series D financing. The final close of the Series D comprised an additional $16 million from new investors including FemHealth Ventures, Warren Point Capital, an undisclosed strategic, and increased commitments from all existing institutional investors. View the announcement here.
Hyve Group, an international exhibition organizer, announced the acquisition of Behavioral Health Tech (“BH), the largest community of behavioral health payors, health systems, community-based providers, digital health innovators, government officials and funders. Read more about the announcement here.
I-Mab, a US-based, global biotech company focused on the development of precision immuno-oncology agents for the treatment of cancer, announced that it has entered into a definitive agreement to acquire 100% ownership of Bridge Health Biotech. Learn more about the agreement here.
Knipper Health, backed by Frazier Healthcare Partners, announced the acquisition of eBlu Solutions, a provider-integrated technology platform that delivers real-time medical and pharmacy benefit investigation, electronic prior authorization, and digital patient across enrollment. Click here for more on the acquisition.
Longevity Health, a company focused on human longevity and healthy aging, announced a definitive merger agreement with True Health, a player in the growing plasma collection industry under the THPlasma brand, to combine the companies in an all-stock transaction. View the announcement here.
Lyra Health, a provider of mental health benefits for employers, has acquired Bend Health, a leader in pediatric mental health care, to better tackle the growing, global youth mental health crisis. Read the press release here.
Motion (formerly Motion Specialties), a large provider of comprehensive and customized mobility and home accessibility solutions, announced it has entered into a definitive agreement to join with Numotion, a provider of complex rehab and independence solutions. Click here to learn more.
NexPhase Capital, LP, a thematically driven and operationally focused private equity firm, today announced the acquisition of Empower Community Care, a leading global behavioral health enablement platform providing proprietary, evidence-based services and software to support at-risk youth, families, and communities. TripleTree served a financial advisor to Empower Community Care for this transaction. Learn more about the acquisition here.
Onconetix (NASDAQ: ONCO) and Ocuvex Therapeutics (Ocuvex), a privately held biopharmaceutical company focused on the development and commercialization of ophthalmic therapeutic candidates, announced that they have entered into a definitive merger agreement. Read more about the agreement here.
PathoCare, a medical diagnostics company, announced it has accepted a third-party tender offer involving the secondary purchase of shares from an early investor. While specific transaction details remain undisclosed, the agreement reflects a company valuation of $500 million independently determined by Lehrer FInancial, an economic and financial consulting firm based in Houston, Texas. Click here to learn more.
PCI Pharma Services, a leading global CDMO focused on innovative biotherapies, announced that it has received a strategic investment co-led by Bain Capital and existing lead investor Kohlberg with additional reinvestment support by Mubadala Investment Company. Learn more about the agreement here.
Petauri, a pharmaceutical services platform, announced the acquisition of Artia Solutions, a consultancy specializing in Medicaid market access helping manufacturers to effectively engage with Medicare and the related dynamic regulatory environment. Click here for more on the acquisition.
ReFocus Eye Health, a regional network of ophthalmology in the Northeast and Mid-Atlantic, is pleased to announce the acquisition of New View Eye Center, provider of laser and specialty eye care services. Read the press release here.
SandStone Partners Health, doing business as YourMedPlan, announced it has acquired McBridge Insurance Agency, a health insurance agency specializing exclusively in Florida Blue Medicare, individual and family coverage, and employer solutions. Learn more about the acquisition here.
Sellers Dorsey, a healthcare impact strategy firm, announced the acquisition of DignifiHealth, a population health and value-based care data analytics company. View the announcement here.
Sorcero, an AI-powered life sciences analytics company, announced its acquisition of Axiom Health, a real-world data platform focused on medical technology. Axiom Health will become Sorcero MedTech, enabling the Sorcero Intelligence Platform to become the first unified AI platform for both the pharmaceutical and medical device organizations, addressing the growing demand for real-time insights across healthcare. Read more about the acquisition here.
Summit Partners announced a growth investment in Dreampath Diagnostics, a healthcare technology company focused on digitizing workflows in anatomical pathology laboratories. Learn more about the investment here.
TechMatter, a provider of enterprise healthcare and automation solutions, announced the acquisition of DoctorPapers, a California-based medical billing and revenue cycle management company. Click here for more on the acquisition.
Waters Corporation (NYSE: WAT) and BD (Becton, Dickinson and Company) (NYSE: BDX) announced a definitive agreement to combine BD’s Biosciences & Diagnostic Solutions business with Waters, creating an innovative life science and diagnostics leader with pioneering technologies and an industry-leading financial outlook. View the announcement here.
Zimmer Biomet (NYSE and SIX:ZBH), a global medical technology company, and Monogram Technologies (NASDAQ: MGRM), an orthopedic robotics company, announced they have entered into a definitive agreement for Zimmer Biomet to acquire all outstanding shares of stock of Monogram for an upfront payment of $4.04 per share in cash, corresponding to an equity value of ~$177 million and an enterprise value of ~$168 million. 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.
