Healthcare services deal activity rose 9.6% YoY in 2025 to an estimated 747 transactions, even as total deal value fell 1.6% amid fewer closings and a meaningful pause in dealmaking in Q4. Beneath the surface, deal activity diverged sharply by subsector. Skilled nursing facilities, specialty pharmacy, hospitals & health systems, and intellectual & developmental disability practices led growth, while PPM deal count declined 18%, driven by steep pullbacks in gastroenterology, fertility, ENT, and dental. Notably, PPM exits jumped 57.1% in 2025, an early signal that transaction volume could recover in 2026, especially in oncology and musculoskeletal.
Read the full article: PitchBook Q4 2025 Healthcare Services Report //
Source: https://pitchbook.com/news/reports/q4-2025-healthcare-services-report