April wasn’t an especially active month in the healthcare M&A market, reaching only 135 deals, but there were still notable announcements worth exploring. Here are the top transactions captured in our LevinPro HC database for April 2026.
Orlando Health acquires Regional Medical Center
Orlando Health, one of the largest health systems of the southeastern United States, announced it was acquiring
Regional Medical Center (RMC) in Anniston, Alabama. RMC is a short-term acute care hospital and one of the region’s largest employers, supported by more than 1,800 team members, 300 volunteers, and more than 200 physicians across a broad range of specialties.
Under the agreement, RMC will become part of Orlando Health’s Alabama Region. All current employees will transition to Orlando Health on day one, with their existing titles and pay. Orlando Health has a growing presence in Alabama following its 2024 acquisition of Brookwood Baptist Health in Birmingham.
Juniper Advisory serves as a transaction advisor to the RMC, supporting strategic evaluation, partnership outreach, and transaction execution.
For more details on the deal between Orlando Health and RMC, you can view those here.
A new investor for TEAM Services Group
Alpine Investors decided to sell TEAM Services Group to General Atlantic, a private equity firm with more than $120 billion in assets. TEAM Services Group provides household employment and home care solutions in all 50 states. Its subsidiary, TEAM Public Choices, provides home care for participants in government-sponsored disability and aging programs, with an emphasis on self-directed care.
The deal is valued at approximately $3 billion, including debt.
Under Alpine Investors, TEAM grew significantly, reporting more than 10 add-on transactions in the past few years.
The sale of TEAM is the largest home health transaction of the year so far, followed by KinderHook Industries‘ $1.1 billion acquisition of Enhabit, Inc. in February.
A major REIT in the healthcare M&A space gets taken private
Blue Owl Real Estate Capital LLC, an affiliate of Blue Owl Capital, announced a $2.4 billion deal to acquire Sila Realty Trust, Inc., one of the most prolific healthcare REITs in the industry. According to data captured in our LevinPro HC platform, Sila Realty has announced 32 deals in the healthcare M&A market since 2020, buying 32 properties for a total value of $640 million.
The transaction will help expand Blue Owl Capital’s real estate portfolio, which already has roughly 6,000 properties. Once the deal is complete, Sila Realty will stop trading on the New York Stock Exchange and become a private company owned by Blue Owl.
Missouri’s largest health insurer acquires PA-based Highmark, Inc.
Blue Cross & Blue Shield of Kansas City announced it purchased Highmark, Inc., which serves 4.9 million health plan members in Pennsylvania, West Virginia and Delaware. Nationally, it employs more than 20,000 people and provides health, dental, vision, and supplemental health products and services to 34.4 million customers.
Founded in 1938, Blue Cross & Blue Shield of Kansas City is the largest not-for-profit health insurer in Missouri and the only not-for-profit commercial health insurer in Kansas City. Blue Cross provides coverage to more than one million residents in the greater Kansas City area.
Cain Brothers, a division of KeyBanc Capital Markets, acted as exclusive financial advisor to Blue Cross. Terms were not disclosed.
Sun Pharmaceutical Industries buys Organon & Co.
In one of the largest healthcare M&A deals of the year so far, Sun Pharmaceutical Industries Ltd. acquired Organon & Co. for $11.75 billion, including debt.
Founded in 2020, Organon is a pharmaceutical company specializing in reproductive medicine, contraception, psychiatry, hormone replacement therapy and anesthesia. The company reported full-year 2025 revenue of $6.2 billion. Sun Pharmaceutical Industries, a specialty generic pharmaceutical company, manufactures and markets pharmaceutical formulations and active pharmaceutical ingredients in India and internationally.
The company’s generic sales have been declining in the United States, so it acquired Organon to push into higher-margin specialty medicines with a sharper focus on areas such as dermatology, oncology and obesity. The acquisition will double Sun’s revenue and EBITDA, adding $6.2 billion in sales with robust 30% EBITDA margins, according to the official press release.
This acquisition is the second in about a year for Sun Pharmaceutical; in March 2025, it acquired Checkpoint Therapeutics, Inc., a commercial-stage company focused on developing novel treatments for patients with solid-tumor cancers, for $355 million.
