Healthcare & Life Sciences M&A deals

HealthSpan Partners, an affiliate of Bon Secours Mercy Health, agreed to acquire short-stay surgical facility operator Surgery Partners in an all-cash deal valued at an enterprise value of about $5.7 billion.

Aptar Pharma acquired Pulmotree, expanding into next-generation pulmonary drug delivery.

Capitol Imaging Services acquired Impression Imaging, a Florida oncology-, neurology- and cardiac-focused imaging provider, adding four centers to its national network.

HCAP Partners-backed Real Diagnostics acquired SimplyTest, a provider of saliva-based oral health diagnostic tests; terms were not disclosed.

Chapter, a Medicare guidance provider for seniors, acquired applied AI startup Ridgeway, whose founder and engineers will join the company.

Qiagen and EQT Private Equity's EQT XI fund agreed a recommended voluntary all-cash public takeover offer for the diagnostics and life-sciences tools maker. Bidder Crown NL Bidco B.V., indirectly controlled by EQT XI, will offer €46.50 per share, valuing the deal at about €10.8 billion. EQT says the investment will leave EQT XI 10-15% invested.

Amulet Capital-backed TFP Fertility Group acquired Manchester Fertility Group, a UK fertility treatment provider operating since 1986; terms were not disclosed.

Healthcare venture firm Redesign Health is merging with Sheba Medical Center's ARC Global, and the two will also acquire AVIA.

LGM Pharma acquired Sannova Analytical, adding cGMP analytical and GLP bioanalytical services.

Italian molecular diagnostics firm Diatech Pharmacogenetics acquired Germany's SensoQuest, developer of the Labcycler PCR thermal cycler.

Augmentative and alternative communication company PRC-Saltillo acquired Ner Chat, creator of the Glint visual-support platform for educators.

OPKO Health agreed to sell select assets of its BioReference Health subsidiary to Labcorp for $722 million in cash at closing, adjustable based on revenues, plus up to $150 million in earnouts tied to the 4Kscore prostate cancer test. Labcorp gets clinical, women's health, urology and corrections testing businesses and over 80 patient service centers.

Cencora signed a definitive agreement to acquire American Oncology Network, a publicly traded, physician-led network of more than 350 oncology providers across 21 states. Cencora CEO Robert Mauch said the deal will expand its physician-led oncology MSO and support of community care. Financial terms were not stated in the release excerpt.

Oklahoma's largest not-for-profit health system, INTEGRIS Health, signed a definitive agreement to become part of Risant Health, pending regulatory approvals.

China's Midea Group completed the acquisition of a majority stake in Genoa-based diagnostic imaging company Esaote.

Alcon acquired Neurotech and ENCELTO, the only FDA-approved treatment for MacTel type 2.

Savillex completed its acquisition of Entegris' Life Sciences Fluid Management business, including Aramus bags and single-use assemblies.

Azra AI completed its acquisition of Blackford Analysis from parent Sopris Capital, which bought it from Bayer on October 2.

Experian acquired healthcare technology company eInsights to expand insurance discovery for providers.

Mapmygenome completed its acquisition of Vancouver-based personal genomics company dnaPower.

Germany's Merck KGaA is acquiring Silence Therapeutics for $1.3 billion. The deal brings in divesiran, a blood disorder drug for polycythemia vera that passed a Phase 2 test. Analysts say it could challenge a Takeda drug. Silence had $72 million in cash as of June 30.

Women's health company Hologic signed a definitive agreement to acquire Reveal Genomics, a Barcelona-based precision oncology firm. Reveal's tests include HER2DX, which helps optimize therapy for HER2-positive breast cancer. Terms were not disclosed in the excerpt.

Life Science Connect acquired BrevisRefero, maker of RFP>Navigator, to expand its biopharma outsourcing capabilities.

Merck KGaA, Darmstadt, Germany will acquire London-based siRNA developer Silence Therapeutics for $20 per ADS in cash, an all-cash deal with an equity value of about $1.3 billion and an enterprise value of $1.1 billion. The purchase strengthens Merck's rare disease pipeline with Silence's clinical-stage siRNA assets.

Indiana's Parkview Health agreed to acquire Ovation Healthcare, a national shared-services provider to hospitals and physician practices; terms were not disclosed.

Migraine drug developer TriGemX Bio agreed to combine with SPAC TCGX Acquisition Corp., creating a publicly traded company named TriGemX Bio, Inc.

Diabetes device maker MiniMed is now fully independent after Medtronic accepted 55,032,401 of its own shares in exchange for 252,813,348 MiniMed shares in a split-off exchange offer that was 5.4x subscribed. Medtronic no longer holds any equity stake in MiniMed, which trades on Nasdaq as MMED.

Belgian startup Armed Cell, chaired by ex-Galapagos CEO Paul Stoffels, is paying Lakefront Biotherapeutics €8 million upfront plus up to $230 million in future payments for its CAR-T assets.

Carenet Health bought Invene, a healthcare-only AI and data engineering consulting firm.

Senior living revenue software firm Sunbound bought Richter Healthcare Consultants; terms were not disclosed.

LUX Infusion acquired Loveland, Colorado specialty infusion provider Suite Health.

Aurora Cannabis's board unanimously reaffirmed that shareholders should reject Curaleaf's revised hostile offer, filed October 6. The board says the bid still significantly undervalues the debt-free company. A special committee is evaluating strategic alternatives, and Curaleaf's offer stays open until December 4, 2026.

Labcorp agreed to acquire select assets of BioReference Health from parent OPKO Health. The package covers clinical, women's health, urology and corrections testing businesses, more than 80 patient service centers, and the FDA-approved 4Kscore prostate cancer test. Terms were not disclosed.

8 Bridge Group acquired a majority stake in healthcare software company 340BIntel.

Medtronic's exchange offer for MiniMed Group was oversubscribed, so it is exchanging all of its remaining 252.8 million MiniMed shares for about 55 million Medtronic ordinary shares. Tendered shares will be accepted on a pro rata basis at a proration factor of 18.289%, with odd-lot holders exempt. Once the exchange is completed, Medtronic will hold no MiniMed stock.

Swiss dermatology group Galderma signed an agreement to acquire ZO Skin Health, an Irvine, California-based physician-dispensed skincare brand. The sellers include funds managed by Blackstone Tactical Opportunities and the Obagi family. The brand was founded by dermatologist Dr. Zein Obagi. Financial terms were not disclosed.

Alaunos Therapeutics acquired Velaris Therapeutics in a reverse merger, alongside a Fairmount-led private placement of about $350M.

Zocdoc acquired Sohar Health, an insurance eligibility verification company, in a deal that closed October 2.

Carenet Health bought Orbita, an AI-powered patient engagement platform serving health systems.

Avanza + MedHQ acquired payer contracting firm Fulcrum Strategies.

HealthpointCapital made a significant investment in surgical operations software provider Ospitek.

Agilent Technologies agreed to acquire Proscia, a provider of enterprise digital pathology software for clinical and life-sciences customers, in an all-cash deal worth $240 million at closing. Up to another $30 million is payable if future performance milestones are met.

STERIS agreed to acquire Pittsburgh-based Xodus Medical, a developer of surgical safety products; terms were not disclosed.

Medtronic will exchange all of its remaining 252.8 million MiniMed shares in an oversubscribed split-off, accepting about 55 million Medtronic shares at 4.5939 MiniMed shares each.

Velaris Therapeutics, a Paragon Labs-launched pulmonary hypertension biotech, has been acquired by Alaunos Therapeutics; terms were not disclosed.

Trace Medical acquired a majority interest in LiViliti Health Products after FDA clearance of its Paptizer 360 CPAP microbial reduction device.

AMSURG acquired Euclid Endoscopy Center, a GI-focused surgery center with San Diego and El Cajon locations, bringing it to 25 California centers.

Maryland behavioral health group R&S Holdings acquired Innovo Detox, a Pennsylvania addiction treatment provider.

Chinese technology group Midea has completed its acquisition of a majority stake in Esaote, the Genoa-based medical imaging company. Esaote will join Midea's Healthcare Division but keep operating as an independent global medical equipment company. Its R&D and production sites in Italy and the Netherlands remain in place.

Sopris Capital completed its purchase of AI imaging orchestration firm Blackford Analysis from Bayer and plans to combine it with portfolio company Azra AI.

ABL Texcell Diagnostics is acquiring IntegraGen's genomics and bioinformatics business and assets under an Évry Commercial Court ruling, as IntegraGen enters judicial liquidation.

Valerio Therapeutics completed its purchase of 100% of Etherna Immunotherapies NV, building an integrated targeted RNA platform.

Viatris agreed to buy Pacira BioSciences in a roughly $1.7B buyout. The deal brings in post-surgical pain drug Exparel and knee osteoarthritis therapy Zilretta, which together booked nearly $700M in 2025. Leerink expects the deal to be immediately accretive to revenue.

China's Midea Group has completed its acquisition of a controlling stake in Esaote, a Genoa-based medical imaging company known for ultrasound and dedicated MRI. Esaote will join Midea Healthcare, operate independently and stay under CEO Franco Fontana. Terms were not disclosed.

CardioOne joined forces with CardioSphere and welcomed Midwest Cardiovascular Institute to its independent cardiology network.

Pharma services platform Petauri acquired HEOR and market access consultancy Franklin Pharmaceutical Consulting.

Tevogen entered a non-binding, non-exclusive letter of intent to evaluate acquiring HRK Healthcare, targeting a close by year-end.

Eye-care VR diagnostics platform Carrot agreed to buy GreenMan Vision, maker of InSightVR, adding intraocular lens simulation for cataract surgery; terms were not disclosed.

Option Care Health agreed to be acquired by private equity firm CD&R and drug distributor McKesson for $32.05 per share in cash. The deal values the home and alternate-site infusion provider at about $5.8 billion. The offer is a roughly 37% premium to Option Care's October 5 closing price.

Medtronic set the final exchange ratio at 4.5939 MiniMed shares per Medtronic share in its exchange offer to split off MiniMed Group.