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 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 our last post: Healthcare M&A Weekly - May 15, 2025.

• Comac Medical Group, a UK-based Contract Research Organization (CRO) backed by EdgeCap Partners, announced the acquisition of ILIFE Consulting, a specialized CRO headquartered in Paris, France, known for its expertise in oncology, rare diseases, and complex biotech clinical trials. Read more about the acquisition here.
• Equum Medical, a provider of acute telehealth-enabled clinical workforce solutions, acquired the clinical health services of VeeOne Health, a virtual care company providing RPM, Tele-ICU, and Tele-Stroke services. Learn more about the acquisition here.
• General Medicine, a telehealth provider and medical marketplace, raised $32M. Matrix Partners led, joined by BoxGroup, Founder Collective, VXI Capital, and JSL Ventures. Click here to view the announcement.
• HCAP Partners, a California-based private equity firm, announced its successful exit from Arosa, a care management provider for older adults and their families. View the press release here. 
• Help at Home, a provider of home care services offering programs designed to help seniors and underserved complex chronic populations remain healthy in their homes, acquired Home Care Now of Central Florida, expanding into Seminole County and strengthening the company's statewide presence. Read more about the acquisition here.
• Henry Schein (NASDAQ: HSIC), a provider of health care solutions to office-based dental and medical practitioners, completed a $250M strategic investment by funds affiliated with KKR. Learn more about the strategic investment here.
• Huma Therapeutics, a healthcare AI company that owns and operates digital health applications, acquired Aluna, a U.S.-based company specializing in intelligent remote monitoring and management of respiratory diseases. Click here for more on the acquisition.
• ICG will invest in Hakim Group, a UK-based family of independent opticians and audiologists. The company’s existing partner All Seas Capital will reinvest alongside ICG. View the announcement here. 
• Instem, a supplier of SaaS platforms across discovery, study management, regulatory submission and clinical trial analytics, closed on an acquisition of Strong Tower Solutions, a technology-enabled service provider with nearly 20 years of configuring and installing qualified, validated, and compliant statistical computing environment (SCE) systems. Read more about the acquisition here.
• KabaFusion, a Novo Holdings-backed national provider of essential chronic and acute infusion therapies, closed on a transaction with Coram pursuant to which it has acquired 6 locations that will serve as pharmacies and ambulatory infusion suites. Learn more about the transaction here.
• KARE PharmTech, a generative AI-based technology platform, acquired Nuehee, a care delivery platform currently focused on obesity care, to further expand access to personalized, evidence-based weight management and wellness services for patients nationwide. Click here for more on the acquisition here.
• The Lockwood Group, a global pharma services organization, acquired IDEOlogy Health, an omnichannel medical education company known for its engagement platforms and strategic healthcare provider communications tools. View the press release here.
• Merit Medical Systems (NASDAQ: MMSI), a manufacturer and marketer of proprietary disposable medical devices, acquired Biolife Delaware in a merger transaction through which Biolife has become a wholly-owned subsidiary of Merit. Read more about the merger here.
• New Mountain Capital, announced a definitive agreement to form Smarter Technologies, the automation and insights platform for healthcare efficiency, created through the strategic combination of portfolio companies SmarterDx, Thoughtful.ai, and Access Healthcare. Learn more about the strategic combination here.
• NorthX Biologics, a Nordic biopharmaceutical Contract, Development and Manufacturing Organization (CDMO), announced a significant growth investment from Signet Healthcare Partners. Click here for more on the growth investment. 
• ProgenyHealth, a national, tech-enabled women's healthcare company dedicated to Maternity and NICU Care Management, received a significant growth investment from its existing investor, Sunstone Partners, and Cressey & Company, a private investment firm focused on building leading healthcare services and information technology businesses. TripleTree served as exclusive financial advisor to ProgenyHealth for this transaction. View the announcement here. 
• Protagenic Therapeutics (NASDAQ:PTIX) and Phytanix Bio have entered into a definitive share exchange agreement pursuant to which the two entities will combine in an all-stock transaction. The combined entity, to be called Phytanix, will bring together two pipelines focused on stress-related and CNS disorders, five preclinical assets, and one clinical-stage asset. Read more about the combination here.
• Recovery.com, a platform for mental health and addiction recovery, acquired Madison-based AI startup RedFox AI. Learn more about the acquisition here.
• Resonetics, a provider of micro-manufacturing services intended for the life sciences industry, acquired the nitinol gun drilling operations and related assets of Medical Component Specialists’ (MCS) New Boston, NH facility. Read more about the acquisition here.
• Rovia Clinical Research, a clinical research site network backed by Gauge Capital, announced the acquisition of Delta Research Partners of Bastrop and Delta Research Partners of West Monroe, two dedicated clinical research sites in Bastrop, LA and West Monroe, LA. Click here for more on the acquisition.
• Sanofi, a French multinational pharmaceutical and healthcare company, entered into an agreement to acquire Vigil Neuroscience, a publicly traded clinical-stage biotechnology company focused on developing novel therapies for neurodegenerative diseases. View the announcement here.
• TrueLearn, a healthcare digital learning and analytics platform, has expanded its platform through the acquisition of COMQUEST, a test preparation resource in the osteopathic education community. Read more about the acquisition here.
• Waters Corporation (NYSE:WAT), provider of lab equipment, supplies and software for scientists, announced that it has acquired Halo Labs, an innovator of specialized imaging technologies to detect, identify, and count interfering materials (particles) in therapeutic products, such as cell, protein, and gene therapies. Learn more about the acquisition 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.