In the HealthTech market, we tracked 244 deals in 2021. Private Equity activity in the market, which has been steadily increasing over the last 10 years, made up 45% of all deals. 

 

Despite the lower number of deals in 2021, disclosed M&A deal value beat all annual records jumping to a record high of $124.6B, due to several megadeals, including the largest recent deal, Oracle’s $28.3B acquisition of Cerner.

 

In terms of top acquirers in HealthTech, 6 of the top 10 buyers were PE firms.  Constellation  Software scored 7 deals, as well as the most acquisitive PE firm on the list, Clearlake Capital, with Hg Capital and TA Associates close behind with 6 deals, followed by KKR with 5 deals, and New Mountain Capital and The Carlyle Group with 4 deals. There were 3 strategic buyers on the leaderboard – Well Health made 5 acquisitions, and CloudMD and Olive with 3 deals each.