Caranx and ArteDrone were scooped up by Affluent Medical

Seller: Caranx and ArteDrone

Buyer: Affluent Medical

Announced: December 2025

Deal Value: $33M

Affluent Medical Caranx and ArteDrone

Caranx, AI-powered robotic surgery systems, and ArteDrone, an autonomous robotic cardiovascular systems, were scooped up by Affluent Medical for $33M in total to combine the products into a new company Carvolix, an AI-driven heart valve and robotics provider.

 

Clinetic was purchased by MRO Corporation

Seller: Clinetic

Buyer: MRO Corporation

Announced: November 2025

MRO Corporation Clinetic

US-based AI-driven enterprise and recruitment management software provider, Clinetic was purchased by MRO Corporation to accelerate clinical trial patient recruitment with AI-driven data. 

 

Tonic Health was acquired by Luma Health

Seller: Tonic Health

Buyer: Luma Health

Announced: November 2025

Luma Health Tonic Health

In the US, patient data collection and payment software firm, Tonic Health was acquired by Luma Health to broaden Luma’s platform capabilities and deepen its integration across Oracle’s Health EHR system.

 

Clario taken by Thermo Fisher Scientific

Seller: Clario

Buyer: Thermo Fisher Scientific

Announced: October 2025

Deal Value: $9.0B

EV/S Multiple: 7.5x

Thermo Fisher Scientific Clario

The largest deal involved Clario taken by Thermo Fisher Scientific for $9B to enhance its clinical research business and to enable faster decision-making during drug development.

 

DigitalOwl was bought Datavant

Seller: DigitalOwl

Buyer: Datavant

Announced: October 2025

Deal Value: $200M

EV/S Multiple: 4.9x

Datavant DigitalOwl

In October, a natural language processing platform provider, DigitalOwl was bought by data collaboration platform, Datavant for $200M at 4.9 times revenue to extend its data extraction and AI capabilities into healthcare market.

 

Premier was bought by Patient Square Capital

Seller: Premier

Buyer: Patient Square Capital

Announced: September 2025

Deal Value: $2.5B

EV/S Multiple: 2.7x

Patient Square Capital Premier

Premier, AI-enabled performance improvement software and advisory services, was bought by Patient Square Capital for $2.5B.

 

HealthEdge acquired by Bain Capital

Seller: HealthEdge

Buyer: Bain Capital

Announced: April 2025

Deal Value: $2.6B

Bain Capital HealthEdge

HealthEdge, a healthcare administration and workflow management software provider, was acquired by Bain Capital for $2.6 billion.

 

CentralReach was purchased by Roper Technologies

Seller: CentralReach

Buyer: Roper Technologies

Announced: March 2025

Deal Value: $1.65B

Roper Technologies CentralReach

AI-based EMR and practice management software provider CentralReach was purchased by Roper Technologies for $1.65B.

 

CareAllies was acquired by HCSC

Seller: CareAllies

Buyer: HCSC

Announced: March 2025

Deal Value: $3.3B

HCSC CareAllies

Medical data and advisory services provider​​​ CareAllies was acquired by HCSC for $3.3B in March, making it the largest deal so far this year.