In the HealthTech market we tracked 171 deals so far in the first three quarters of 2021. Private Equity activity in the market, which has been steadily increasing over the last 10 years, makes up 40% of all deals this year so far. 

Despite the lower number of deals in 2021, disclosed M&A deal value has already surpassed all annual totals, jumping to a record high of $72.5B, due to several megadeals, not least Microsoft’s $20B acquisition of Nuance Communications. 

In terms of the top acquirers of healthtech, six of the top 10 buyers were PE firms. Clearlake Capital led the pack, scoring 7 acquisitions, with KKR and TA Associates close behind with 5 deals There were 3 strategic buyers on the leaderboard – Well Health, CloudMD and Olive - with 7, 5 and 3 deals respectively.