Healthcare Market Update | Q3 2025

Latest market trends, valuation levels, and deals

The third quarter of 2025 reaffirmed the resilience of the Healthcare M&A market. Despite a cautious macro environment, investors stayed active and focused on fundamentals.

We are pleased to present the latest edition of our Healthcare Sector Market Update for the third quarter of 2025. The report confirms the sector’s enduring strength despite a cautious macroeconomic environment and ongoing regulatory change. Landmark deals such as Ottobock’s €4.2 billion IPO and STADA’s sale to CapVest (€10 billion valuation) underscore continued investor confidence in profitable, innovation-driven healthcare companies. Supported by easing financing conditions and a focus on quality, efficiency, and compliance, healthcare M&A remains driven by operational excellence, clinical impact, and supply resilience. As consolidation gains momentum, the sector continues to attract both strategic and private equity investors seeking long-term, value-accretive growth opportunities.

We hope you enjoy reading the report and look forward to exchanging ideas with you soon.