LevinPro HC Stat of the Week, November 7, 2025
Source: LevinPro HC, November 2025 Following the launch of General Atlantic and Hospital for Special Surgery’s new platform focused on ambulatory surgery centers, we examined where health systems have been directing their attention in the M&A market. The chart above shows how, from Q3:24 to Q3:25, health systems were much more aggressive in their push into alternative healthcare sectors outside of Hospitals, with 58% of their acquisitions in Q3 focused on non-hospital healthcare entities. The data doesn’t weigh the impact of the outpatient networks usually involved in health system mergers, but we thought this chart gives a clear visual to show the direction health systems are going in... Read More »
Healthcare M&A Activity Increases 7% in Q3:25
Healthcare merger and acquisition activity increased in the third quarter of 2025, with 532 deals announced, according to new acquisition data from LevinPro HC. Activity in Q3:25 was 7% higher than the 495 deals announced in the second quarter, and 3% higher than the 512 deals announced in Q3:24. The most active sector for M&A during the quarter was Physician Medical Groups (PMG), which had 130 deal announcements, making up nearly a quarter of all Q3 healthcare transactions. The dental specialty alone had 66 deal announcements, accounting for more than 50% of all PMG deal announcements during the quarter. The eHealth sector was the second most active with 83 deal announcements. Within... Read More »
Takeaways from Colliers’ National Healthcare Conference
Colliers’ 2025 National Healthcare Conference arrived at a pivotal moment for healthcare real estate, amid improving capital markets and growing economic optimism. Compared to last year’s more tentative tone, this year’s event was notably upbeat, reflecting a broader sentiment that the healthcare sector remains one of the most stable and resilient corners of the commercial property market. From Caution to Confidence Shawn Janus and Marianne Skorupski of Colliers updated LevinPro HC on the mood of the room in New Orleans, describing a marked shift in outlook from the 2024 conference. “Last year, we were cautiously optimistic,” they noted. “Uncertainty was the watchword, everything from... Read More »
Third Quarter Healthcare Activity Rebounds
Despite a tumultuous summer in the United States, healthcare M&A activity rebounded in the third quarter, hitting 524 deals across the 17 sectors tracked by LevinPro HC. Compared with the second quarter, activity levels increased roughly 6%, and year-over-year activity is effectively the same, with only a 1% difference in deal volume. These margins are likely to widen once deals and transactions are reported in upcoming quarterly reports and filings, however. Spending skyrocketed, hitting $63.8 billion, more than double the $30 billion from the second quarter and 35% higher than the $47.09 billion spent in Q3:24. The largest deal was Waters Corporation’s $17.5... Read More »
Cardinal Health Strikes $1.9 Billion Deal for Solaris Health
Cardinal Health, the global healthcare conglomerate, has made another large push into the healthcare provider space. On August 12, through its subsidiary The Specialty Alliance, Cardinal Health bought Solaris Health in a $1.9 billion deal, its fifth deal since the start of 2024. Solaris Health is one of the largest urology and management service organizations in the United States, with more member physicians than any other provider of urological and specialty services. Its physicians span 14 states (Colorado, Florida, Georgia, Illinois, Indiana, Kentucky, Maryland, Michigan, New York, North Carolina, Ohio, Pennsylvania, South Carolina and Washington), with more than 750... Read More »Schedule a demo
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