1. R1 acquires Phare Health, via its financial sponsors TowerBrook Capital Partners, Khosla Ventures and Clayton, Dubilier & Rice, to expand Agentic AI Revenue Cycle Capabilities The Murray, Utah-based healthcare revenue management leader will integrate the AI-native inpatient coding and clinical documentation improvement platform into its R37 innovation lab, expected to close by end of October 2025. Phare Health’s AI engine reads all unstructured and structured data points to build holistic patient journey fingerprints, cross-referencing with guidelines and coding policies for context-aware decisions with full evidence trails, unlike traditional keyword extraction systems. The combination delivers market-leading DRG Validation integration for faster, accurate reimbursement and real-time claim adjudication positioning. R37 lab currently operates agentic applications with select R1 clients achieving 97% accuracy rates in autonomous coding for emergency room and physician office visits. (Link)
2. BioCryst Pharmaceuticals (NASD: BCRX) to acquire Astria Therapeutics (NASD: ATXS) in $700M Deal backed by Blackstone Financing The acquisition adds Astria’s late-stage candidate, navenibart, a long-acting injectable for hereditary angioedema (HAE) prophylaxis, to BioCryst’s portfolio. This creates a comprehensive HAE franchise, combining an oral therapy with a potentially best-in-class injectable. The deal is expected to sustain BioCryst’s double-digit revenue growth for the next decade while maintaining the company’s profitability and positive cash flow. Astria CEO Jill C. Milne will join BioCryst’s board upon the transaction’s close, anticipated in Q1 2026. The combined company will also seek strategic alternatives for Astria’s early-stage atopic dermatitis program. (Link)
3. OSR Holdings (NASD: OSRH) acquires WORIO to Pioneer Needle-Free Glucose Monitoring
The Bellevue-based company acquires the pioneer in non-invasive glucose monitoring utilizing proprietary near-infrared spectroscopy (NIRS)-based technology enabling truly needle-free continuous glucose monitoring. WORIO becomes a wholly owned subsidiary of OSRK, with shareholders receiving newly issued OSRK shares convertible into approximately 1.09 million OSRH common stock shares at 12.96:1 ratio if OSRH reaches at least $10 per share within three years. The acquisition targets the global glucose-monitoring market projected at $40-plus billion by 2030, with no immediate dilution for existing shareholders. WORIO established partnership with a major global consumer electronics company providing non-dilutive funding and employee participation in initial proof-of-concept trials, with clinical trials launching at a leading Seoul medical center. (Link)
4. GTCR Makes $200M Strategic Minority Investment in Solmetex to Accelerate Growth and Acquisitions
GTCR announced a $200 million structured minority investment in Solmetex, a leading provider of dental products and systems spanning amalgam separation, waterline safety, dental isolation, and regenerative biomaterials. The investment, made in partnership with existing shareholder AGIC Capital, supports Solmetex’s expansion through organic growth and near-term add-on acquisitions. Founded in 1994, Solmetex serves more than 85,000 dental offices nationwide and has built a diversified portfolio through targeted integrations. GTCR will collaborate with Solmetex CEO Gene Dorff and management to accelerate growth and broaden the company’s position in the U.S. dental supply ecosystem. (Link)
5. Hospital for Special Surgery and General Atlantic Launch National Orthopaedic Platform with Legent Health Acquisition The new, independently operated platform will focus on building a national network of ambulatory surgery centers (ASCs) for orthopaedic and spine care. It aims to expand patient access to high-quality, lower-cost procedures in outpatient settings closer to home. The venture combines HSS’s clinical expertise and surgeon network, General Atlantic’s scaling experience, and Legent’s operational infrastructure. Legent CEO Jordan Fowler will lead the platform, which plans to partner with physicians, offering them equity participation and access to HSS protocols. Growth will be pursued through acquisitions, new partnerships, and developing new facilities. (Link)
6. Boston Scientific (NYSE: BSX) to acquire Nalu Medical in $600M Deal to Expand Chronic Pain Portfolio
The acquisition will integrate Nalu’s innovative Neurostimulation System into Boston Scientific’s neuromodulation offerings. The system features a miniaturized, battery-free implant that is wirelessly powered by an external disc and controlled via a smartphone app. It delivers peripheral nerve stimulation to interrupt pain signals, having demonstrated significant and sustained pain relief in clinical trials. With real-world data from over 2,000 patients, the technology addresses a significant unmet need for chronic pain conditions. The transaction is expected to close in the first half of 2026 and is projected to be accretive to adjusted earnings per share starting in 2027. (Link)
7. Level Education Group acquires Triad Behavioral Health, via its financial sponsor Baum Capital Partners Management to Create End-to-End Educational Platform for Behavioral and Mental Health Professionals
Level Education Group is a South Jordan, Utah-based continuing education leader serving over one million healthcare professionals. The acquisition creates a comprehensive platform supporting students preparing for licensure, newly licensed practitioners, and seasoned professionals advancing knowledge and skills. Triad offers exam-blueprint and accreditation-aligned assessment solutions for universities, exam prep and continuing education for employer clinical staff, plus job board recruitment tools. CEO Jamie Harper emphasized addressing the urgent challenge of ensuring behavioral and mental health professionals have necessary resources, support, and training as service demand grows. (Link)
8. AVIA Acquires Panda Health to Expand Healthcare Technology Intelligence Platform The Chicago-based healthcare technology navigator built by health systems combines with Panda Health to create a community representing over 75% of the nation’s health systems and over 7,000 solution companies. The human-validated digital transformation platform provides comprehensive healthcare technology intelligence powered by robust agentic AI workflows enhanced with human insight, delivering decision-quality insights validated in real health system context to accelerate confident digital adoption. The joint platform expands capabilities with new insights, collaboration opportunities, and digital tools for healthcare providers evaluating and selecting digital health solutions, ensuring neutral research and peer-driven reviews support data-informed decisions in a rapidly changing healthcare landscape. (Link)
9. Cortechs.ai acquires ZepMed to Expand AI-Powered Neuroimaging Portfolio The San Diego-based AI-driven neuroimaging software company acquires the FDA Class II-cleared NeuroAlign CT™ software that automates segmentation, alignment, and reformatting of head CT scans, enabling clinicians to detect subtle brain anatomy changes with greater confidence and speed while streamlining radiology workflows. The acquisition expands Cortechs’ neuroimaging portfolio beyond its current capabilities to create a continuum of care spanning surveillance, diagnosis, and risk assessment. ZepMed’s pioneering CT imaging technology enhances diagnostic accuracy through automated processing, strengthening Cortechs’ position in radiological innovation. The integration positions the company to complete the precision medicine value chain through a multimodal ecosystem serving patients, clinicians, and payers. (Link)
10. CareScout to acquire Seniorly in Sub-$20M Deal Backed by Genworth The acquisition will integrate Seniorly’s platform and its network of thousands of senior living communities and local advisors into CareScout’s services. This integration aims to provide families with a broader range of trusted long-term care options and personalized guidance, whether they are seeking home care or senior living communities. The transition will occur over the coming months, with the Seniorly website rebranding as “Seniorly, powered by CareScout.” The deal, expected to close in Q4 2025, is designed to accelerate CareScout’s mission to create a more dignified and connected aging experience for older adults. (Link)
11. Solis Mammography acquires St. Louis Breast Center, via its financial sponsors TowerBrook Capital Partners and Madison Dearborn Partners in Missouri Expansion This strategic move establishes the national provider’s first presence in the state of Missouri, paving the way for future regional growth. The acquisition integrates a well-regarded, independent center known for its comprehensive and compassionate care into Solis’s national network. The St. Louis Breast Center was originally launched by a group of obstetricians and gynaecologists to offer state-of-the-art breast imaging. Solis Mammography, the largest independent provider in its field, has nearly four decades of experience dedicated to early detection, serving millions of women across the United States. (Link)
12. Topcon Healthcare to acquire Toku, Inc. to Expand AI-Driven, Non-Invasive Chronic Disease Screening
Topcon Healthcare, a global leader in digital health and ocular data solutions, signed a definitive agreement to acquire Toku, a San Diego-based AI health technology company founded in New Zealand. The deal adds Toku’s CLAiR™, BioAge™, and MyKidneyAI™ platforms, which use retinal images to assess cardiovascular, biological aging, and kidney-disease risk, to Topcon’s Healthcare from the Eye™ ecosystem. Integrated into Topcon’s Harmony® platform, Toku’s technology—trained on more than 4.3 million retinal images—enables scalable, non-invasive screening across primary care and telehealth settings. The acquisition accelerates Topcon’s expansion into preventive medicine and strengthens its AI portfolio for early detection of chronic disease. (Link)
13. Manatee Acquires Happypillar to Scale Personalized Mental Health Care for Families
Manatee, a leading virtual mental health platform for families, has acquired Happypillar, an AI-driven parent-child therapy coaching company, to expand access to personalized, evidence-based behavioral health solutions. The combination integrates Happypillar’s AI and behavioral science tools with Manatee’s family-first clinical platform, creating a hybrid model of clinician-led and self-guided care that supports both therapy sessions and daily family interactions. The acquisition strengthens Manatee’s position as a nationwide provider partnering with major health plans to deliver scalable, outcomes-driven mental health care for families. (Link)
VENTURE AND OTHER
1. MD Integrations raises $77M from Updata Partners and Denali Growth Partners to Scale Physician-First Telehealth Infrastructure The funding will accelerate product innovation and expand its nationwide, doctor-exclusive network. The company also appointed Ramin Zacharia as President and COO to lead its next growth phase. Founded by Dr. Marc Serota, MDI provides an end-to-end platform that integrates clinical operations, pharmacies, diagnostics, and payments for digital health brands. This infrastructure enables partners to launch new virtual care services rapidly while maintaining compliance across all 50 states. The company has achieved triple-digit year-over-year growth, facilitating millions of patient consultations across multiple specialties. (Link)
2. OneImaging secures $38M Series A from Vy Capital, Aquiline, Sempervirens, XRC Ventures and SixThirty Ventures to Disrupt Radiology with Transparent Pricing
The Miami-based startup operates a platform that connects patients and providers to a nationwide network of accredited imaging centers. It aims to simplify the appointment process while dramatically reducing costs—by up to 80%—through transparent pricing and seamless reimbursement. The company has experienced significant growth, forming partnerships with multiple Fortune 100 employers and major health plans, expanding affordable access to millions. Founder and CEO Elan Adler, a former MRI technologist and Siemens executive, started the company after a personal family experience with dangerous diagnostic delays. (Link)
3. Peptilogics Raises $78M to Advance Zaloganan (PLG0206) into Phase 2/3 Pivotal Trial for Prosthetic Joint Infections Peptilogics, a Pittsburgh-based clinical-stage biotechnology company developing surgical therapeutics for device-related infections, closed an oversubscribed $78 million Series B2 round led by Presight Capital, Thiel Bio, and Founders Fund, with new investors including AMR Action Fund, Narya Capital, and Beyond Ventures. The financing supports a Phase 2/3 pivotal trial of zaloganan (PLG0206) for prosthetic joint infections (PJI)—a $390,000-per-patient complication with no approved therapies. In a prior Phase 1b study, zaloganan achieved 93% infection-free rates at 12 months when used during DAIR procedures. The upcoming randomized trial, enrolling 240 patients starting December 2025, will measure clinical failure reduction and health-economic outcomes. Zaloganan has received QIDP, Orphan Drug, and Fast Track from the FDA. (Link)
4. Alleviate Health secures $4.3M Seed Funding Led by Andreessen Horowitz, with participation from Alt Capital and First Harmonic Group for AI-Powered Clinical Trial Recruitment The platform uses human-in-the-loop AI agents to automate patient pre-screening via SMS and voice, verifying eligibility against study protocols and scheduling visits. This addresses critical inefficiencies and staff burnout at research sites by handling routine tasks. In its first year, the solution has already managed over 500,000 patient interactions across 190+ sites in the U.S. and Canada, accelerating recruitment for more than 300 trials. The company has established partnerships with major site networks including Alcanza, CenExel, and M3 Wake. The new capital will support its mission to transform the clinical trial recruitment process. (Link)