Healthcare Market Update | Q2 2026

Latest market trends, valuation levels, and deals

Efficiency, scale and strategic focus are reshaping the healthcare market

We are pleased to share the latest edition of our Healthcare Market Update for the second quarter of 2026. The report highlights current valuation levels, selected transactions and the key developments that shaped the healthcare market during the first half of 2026.

Regulatory and financial pressure across the healthcare sector continues to rise. As a result, efficiency is evolving from a purely operational objective into a key competitive factor. Providers, manufacturers and suppliers are under increasing pressure to reassess cost structures, capacity utilization and reimbursement models. At the same time, investors are placing greater emphasis on businesses that can navigate regulatory complexity and demonstrate operational resilience.

Consolidation is also gaining momentum. Germany’s medical aids market in particular shows how regional density, digital capabilities, operational excellence and professional quality management are becoming more important. Scale is therefore no longer only a driver of efficiency, but increasingly a prerequisite for long-term competitiveness.

At the same time, healthcare companies are sharpening their strategic focus. Rather than pursuing diversification for its own sake, they are optimizing portfolios and allocating capital more selectively. Companies are concentrating on businesses where they hold stronger competitive positions and see long-term growth potential.

Despite the demanding market environment, transaction activity remains robust. Oaklins completed close to 20 healthcare transactions globally in the first half of 2026. Approximately two thirds were sell-side mandates, while around one third involved cross-border buyers. This underlines the continued appetite of strategic acquirors and financial investors for high-quality healthcare assets.

The sale of itemedical to Halma illustrates the strategic relevance of digital healthcare solutions. itemedical provides digital platforms, software, hardware and workflow solutions that integrate real-time patient data and alarms from medical devices. The transaction combines these specialist capabilities with Halma’s international healthcare platform and technology resources.

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