LevinPro HC Stat of the Year: Healthcare Services M&A Stabilize
Source: LevinPro HC, December 2025 Despite challenging macroeconomic conditions and market uncertainty, healthcare services M&A remained stable, with preliminary numbers showing a modest 3% increase in deal volume. The chart above shows the year-over-year change based on transaction data captured in our LevinPro HC platform. At the time of writing, deal volume for healthcare services in 2025 stands at 1,477, compared with 1,434 in 2024. And we expect more deals to surface in the upcoming barrage of quarterly and annual reports. Activity in the Behavioral Health Care sector surged in 2025, with a 42% increase in deal volume year over year. The sector benefited from a variety of... Read More »Maimonides Health and NYC Health Merger Pushes Ahead
One of the largest municipal health systems in the United States is moving ahead, officials in New York City announced on December 29. Maimonides Health, a Brooklyn-based health system with three hospitals and more than 80 outpatient sites, is joining NYC Health + Hospitals. The merger is supported by a $2.2 billion grant from New York Governor Hochul and public support from the current New York Mayor Adams. According to its most recent consolidated financial audit, Maimonides Health generated $1.6 billion in net patient services revenue. But according to local reporting, the health system has struggled financially for years. It has lost approximately $45 million in the first three... Read More »
Imagen Dental Partners Acquires 3 Practices
For a strong finish in 2025, Imagen Dental Partners has announced that it acquired three practices: Prestige Dentistry, Alexander Dental and Gresham Smile Designs. Prestige Dentistry provides the full scope of dentistry services out of two locations in Florida: Trinity and Palm Harbor. According to its website, there are three doctors on staff. Alexander Dental is based in St. Augustine, Florida. According to its website, the dental practice is run by a team of six doctors, including one oral surgeon. Gresham Smile Designs is a family dentist practice with one location in Gresham, Oregon. There is one doctor on staff: Dr. Matthew Vogel, who is aided by several... Read More »
BGH Capital Acquires Aspen Pharmacare Assets for $1.58 Billion
On December 29, BGH Capital announced that it was purchasing select assets from Aspen Pharmacare. The purchase price is A$2.37 billion (more than USD $1.585 billion). The assets include Aspen’s Asia Pacific assets (Hong Kong, Taiwan, Malaysia and Philippines), excluding China. The assets constituted 18% of Aspen’s total revenue and 26% of its core profit for the year ended 30 June 2025, according to the company. Aspen is a global specialty and branded multinational pharmaceutical company with a presence in both emerging and developed markets. It has approximately 9,100 employees at 69 established offices in more than 50 countries. It also operates 23 manufacturing... Read More »
IRA Capital Acquires 24-building Medical Outpatient Portfolio
IRA Capital announced that it acquired a medical outpatient building (MOB) portfolio from Healthcare Realty Trust, Inc. The portfolio includes 24 buildings encompassing 1.52 million square feet across 10 states. Nothing else regarding the medical office buildings were disclosed. IRA Capital is a Southern California-based private equity firm founded in 2010 that invests capital for its own account and on behalf of its co-investment partners, which include pension funds, institutions, and family offices. IRA invests in commercial real estate assets throughout the United States and also has a private equity/venture capital platform that invests in companies across various... Read More »
Generational Group Advises on Urgent Care Deal
Generational Group, a leading mergers and acquisitions advisory firm for privately held businesses, announced that it advised Swift Health Medical Group on its acquisition by a private medical group. Swift Health Medical Group is an urgent care practice with two locations in Georgia: Morrow and College Park. It provides immediate, non-emergency medical services for patients of all ages. The acquisition was announced on December 24, having closed on November 24. The financial terms were not disclosed. According to data in the LevinPro HC database, this deal marks the 13th urgent care transaction of the year. In 2024, 20 urgent care deals were announced with 16 in... Read More »
Inszone Insurance Services Expands Benefits Department in Michigan With Acquisition
Inszone Insurance Services announced that it is expanding its presence in Michigan with the purchase of Voyage Benefits, LLC, a health and life insurance agency based in Grand Rapids. Founded and led by Principal and Licensed Agent Kelly Syren, Voyage Benefits has built a reputation for providing personalized and comprehensive health insurance and Medicare solutions to individuals and families across Michigan since 2018. Voyage Benefits provides guidance to a wide range of clients, including those approaching Medicare eligibility, living with disabilities or navigating changes in employment or family coverage. The agency has also assisted individuals eligible for subsidized premiums... Read More »
Sanofi Acquires Dynavax Technologies for $2.2 Billion
Sanofi is rounding out 2025 with a multi-billion-dollar transaction. On December 24, the company announced that it entered into an agreement to acquire Dynavax Technologies Corporation, based in Emeryville, California. Under the terms of the agreement, Sanofi will commence a cash tender offer to acquire all outstanding shares of Dynavax for $15.50 per share in cash, reflecting a total equity value of approximately $2.2 billion. Dynavax Technologies is a publicly traded vaccines company with a marketed adult hepatitis B vaccine (HEPLISAV-B®) and a differentiated shingles vaccine candidate (Z-1018). According to its most recent annual SEC filing, Dynavax reported approximately $277.2 million... Read More »
Key Insights from C3 Think Tank CEO on the Changing Dental M&A Landscape
Dentistry is entering a period of rapid change as private equity activity, new insurance rules and faster cycles of clinical innovation start to collide with a sector that has historically maintained a high degree of clinical and operational autonomy. Few people track that shift as closely as Prof. Dr. Claudia C. Cotca, whose dual role as a practicing dental surgeon and founder of C3 Think Tank gives her a view into both daily patient care and the policy conversations shaping the market. From her position, she argues that dentistry’s greatest strength (its clinician-led and open-market structure) is also what makes the current M&A wave more consequential than many investors recognize.... Read More »Schedule a demo
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