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Healthcare News, Deals, and Investments Update November 2nd, 2026

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Healthcare Weekly News and Deals

  1. Ferring Pharmaceuticals agrees to acquire Insight Partners-backed Gameto for up to $1.38 billion, adding Fertilo, stem cell-based IVF platform, to its reproductive medicine portfolio. Privately held Swiss drugmaker Ferring Pharmaceuticals signed an agreement to acquire Gameto in a deal valued at up to $1.3825 billion. The companies did not say how the price splits between upfront and contingent payments. The total depends on development, regulatory and commercial milestones, and the two will operate independently until closing. Gameto has raised about $127 million since its 2020 founding from backers including Insight Partners. At the full headline value, that is a return of roughly 11x paid-in capital. Fertilo uses stem cell-derived ovarian support cells to mature eggs outside the body, which could shorten IVF cycles to about three days. It is cleared in Australia and parts of Latin America and is in U.S. Phase 3 testing. (Link)
  2. RadNet (NASDAQ: RDNT) agrees to acquire Housatonic Partners-backed ONRAD for $350 million in cash, 5 million shares and an earnout of up to $210 million, entering hospital-based teleradiology. RadNet (NASDAQ: RDNT) signed a definitive agreement on October 26 to buy ONRAD, a teleradiology and in-hospital radiology staffing provider owned by Housatonic Partners. ONRAD shareholders receive $350 million in cash and 5 million RadNet shares at closing. An earnout of up to $210 million is tied to 2027 EBITDA and is payable in cash or stock at RadNet’s election. ONRAD supports more than 225 hospital facilities in 26 states through over 130 contracted radiologists. It has grown revenue 10–20% annually with Adjusted EBITDA margins above 30%. RadNet expects $190–200 million of revenue and $60–65 million of Adjusted EBITDA in year one. ONRAD will anchor a new Radiology Professional Services segment, and closing is expected in early 2027. (Link)
  3. Merit Medical Systems (NASDAQ: MMSI) acquires the remaining ~82% of Solo Pace for about $45 million, adding TAVR temporary pacing systems to its cardiac therapies platform. Merit Medical Systems (NASDAQ: MMSI) disclosed on October 30 that it had bought all remaining equity in Minneapolis-based Solo Pace on October 13, for purchase consideration of about $45 million. The deal turns a staged strategic investment into full ownership. Between January 2023 and December 2025, Merit paid $5 million for roughly 18% of Solo Pace, an option to buy the rest on commercialization milestones, and exclusive distribution rights. Solo Pace makes the SOLO PACE CONTROL and FUSION temporary pacing systems for TAVR and other transcatheter valve procedures. (Link)
  4. Privia Health (NASDAQ: PRVA) acquires the American Choice Healthcare MSSP business from Cano Health for about $36 million, adding 36,000 attributed lives to its value-based footprint. Privia Health, based in Arlington, Virginia, is a national physician-enablement company that organizes independent practices into value-based networks. It works with more than 5,000 providers across roughly 1,300 practices in 24 states, supporting more than 5 million patients. Its ACOs, operating under Privia Care Partners, generated $233 million in shared savings in the 2024 Medicare Shared Savings Program year. American Choice Healthcare was the MSSP subsidiary of Cano Health, a Florida-based senior primary care company that went through Chapter 11 in 2024 and emerged private. The ACO joins Privia Care Partners and will care for more than 36,000 Medicare lives starting in 2027. (Link)
  5. Davion Healthcare (NASDAQ: DAVI) agrees to acquire Philadelphia’s Healthcare Stat Homecare for $13.5 million in cash and stock, the first in a planned series of acquisitions of profitable healthcare businesses. Dublin-based Davion Healthcare (NASDAQ: DAVI), a developer of non-invasive health monitoring technologies, agreed on October 27 to buy Healthcare Stat Homecare (HSH), a Philadelphia home health provider. The $13.5 million price comprises $8 million in cash and $5.5 million in Davion shares at an agreed $13 per share. HSH reported about $11.6 million of 2025 gross receipts and $1.9 million of ordinary business income, both unaudited. That implies roughly 1.2x receipts and 7x income. HSH provides skilled nursing, home health aide and rehabilitation services and is Medicare and Medicaid certified. Davion calls it the first of a year-long program to acquire profitable healthcare businesses, with completion expected by December 31, 2026. (Link)
  6. Pelthos Therapeutics (NYSE American: PTHS) to combine with Castle Creek Biosciences in an all-stock merger worth 5.2 million shares upfront, plus up to 5.8 million contingent shares and $300 million in milestones. Durham, North Carolina-based Pelthos Therapeutics (NYSE American: PTHS) agreed on October 30 to merge with Exton, Pennsylvania-based Castle Creek Biosciences. Castle Creek shareholders receive 5.2 million Pelthos shares at closing, about 32.5% of fully diluted shares. They can also receive up to 5.8 million more shares on FDA approval of D-Fi, and up to $300 million in cash milestones, including $50 million on hitting Phase 3 endpoints. They also get 80% of the proceeds from any priority review voucher. D-Fi is a redosable gene-modified cell therapy for dystrophic epidermolysis bullosa. It holds Orphan Drug, Fast Track and RMAT designations, with a continued Phase 3 study planned. Castle Creek gets two of ten board seats, and closing is expected by the end of the first quarter of 2027. (Link)
  7. Leonard Green & Partners acquires Radon Medical Imaging, a West Virginia imaging equipment service organization, from 5th Century Partners. Los Angeles-based Leonard Green & Partners bought Radon Medical Imaging from 5th Century Partners (5CP) on October 27; terms were not disclosed. Radon was founded in 1976 and is based in Charleston, West Virginia. It is an independent service organization that services, repairs and sells new and refurbished imaging equipment, including MRI, PET/CT, mammography, cath lab, C-arm and X-ray systems. Its customers are hospitals, clinics and outpatient facilities. Radon expanded from five states to 26, grew past 220 employees and completed four add-ons: Premier Imaging, Tristate Biomedical, Alpha Imaging and Majestic Medical Solutions. Leonard Green gets a scaled platform in a fragmented imaging-service market. (Link)
  8. Mainsail Partners-backed ChiroHD acquires ChiroBilling, adding native billing and revenue cycle management to its chiropractic EHR platform serving more than 2,000 clinics. Atlanta-based ChiroHD announced on October 22 that it had acquired ChiroBilling, an outsourced chiropractic billing company with a 30-person team; terms were not disclosed. Growth equity firm Mainsail Partners, which invests in bootstrapped B2B software companies, put $26 million into ChiroHD in April 2025 to fund AI-led product development and customer support. The deal adds an established revenue cycle team and its customers instead of building billing in-house. The two companies already jointly serve more than 100 clinics. ChiroBilling CEO Shannon Berg becomes president of a new ChiroBilling division. The rationale is collections leakage: chiropractors collected about 62 cents per billed dollar in 2025, down from 71 cents. (Link)
  9. Ares Management (NYSE: ARES)-backed Duly Health and Care acquires Fox Valley Imaging, an independent outpatient imaging center in Naperville, Illinois. Duly Health and Care acquired Fox Valley Imaging, according to an October 27 release; terms were not disclosed. Duly is the Downers Grove, Illinois multispecialty physician group owned by Ares Management (NYSE: ARES) and Athyrium Capital Management since 2017. Fox Valley has served Naperville for more than 30 years with MRI, MRA, CT, ultrasound, echocardiography, video fluoroscopy and X-ray. Duly plans to add mammography and DEXA at the site. That expands its outpatient imaging network in Chicago’s western suburbs and keeps more ancillary imaging volume inside its own system. Duly has more than 1,000 primary and specialty care providers across 150+ locations. The add-on extends Ares’ buy-and-build of one of the largest independent physician groups in the Midwest. (Link)
  10. Platform Partners-backed Principle Health Systems acquires mobile imaging assets in the St. Louis market, extending bedside diagnostics for long-term care facilities into Missouri and Illinois. Houston-based Principle Health Systems announced on October 30 that it had acquired select assets of an unnamed mobile diagnostic imaging company serving greater St. Louis; terms were not disclosed. Houston private investment firm Platform Partners invested in Principle in January 2023, with the founders keeping majority ownership. The deal brings imaging technologists, mobile equipment and established facility relationships. It adds bedside X-ray, ultrasound and EKG for long-term care operators in Missouri and Illinois. It follows a string of add-ons under Platform Partners: BioStat Laboratory in 2023, BioStat Imaging and Telos PGX in 2024, and Heartland Health Laboratory in 2025, plus a June 2026 asset purchase. Together they build a single-source mobile lab and imaging platform for long-term care. (Link)
  11. HealthEdge Investment Partners-backed Western Microsurgical acquires Q Surgical and Proficient Surgical, expanding its surgical microscope platform to 18 states. Denver-based Western Microsurgical (WMS), a HealthEdge Investment Partners portfolio company, announced two acquisitions on October 27; terms were not disclosed. Q Surgical serves hospitals and ASCs in Northern California and Nevada, and Proficient Surgical serves the Northeast. The owners of both sellers rolled meaningful equity into the combined company and stay active in operations. WMS is an independent manufacturer’s representative and service organization for Leica Microsystems. It also took over a Leica sales and service contract previously held by Shawnee Medical in two states. The combined business now covers 18 states. That advances HealthEdge’s plan to build a national surgical microscopy platform through partnerships with experienced regional operators. (Link)
  12. Svoboda Capital Partners partners with 120/80 Health Group, a founder-led healthcare and life sciences communications consultancy. 120/80 Health Group, founded in 2018, started as a digital health communications firm and has grown into a strategic consultancy for healthcare and life sciences. In 2024 it restructured as a holding company with two brands: 120/80, focused on digital health, and AOx3, based in Silicon Valley and New York, for companies applying technology and AI to health. Svoboda Capital Partners, founded in 1998, is a lower-middle-market private equity firm focused on professional services, industrial and commercial services, and transportation. The partnership lets 120/80 reinvest in its team and expand its service offerings. Prosper Group advised 120/80. (Link)
  13. GrowthCurve Capital makes a majority investment in TailorMed, the medication access and affordability platform spanning 950 hospitals and 4,700 clinics. TailorMed connects patients, providers, pharmacies and life sciences companies across more than 3,100 pharmacies and 6,000 support programs. It has supported 75 million patients and secured $7.4 billion in financial assistance since 2020. The capital will fund product work and expansion of its AI-powered solutions. Leerink Partners and TripleTree advised. (Link)
  14. InTandem Capital Partners completes a strategic growth investment in Atlas Health, the AI-powered patient affordability platform for hospitals and health systems. New York-based healthcare investor InTandem Capital Partners closed a growth investment in Atlas Health on October 29; terms were not disclosed. Founder and CEO Ethan Davidoff and the management team stay on as significant shareholders. Atlas was founded in 2017. It uses its agentic AI, Ava, and EHR integrations to match and enroll patients in coverage and financial assistance programs, which raises reimbursement and cuts uncompensated care for providers. InTandem’s thesis is that patient affordability is moving from a back-office task to a front-line revenue recovery tool as coverage erodes and specialty drug costs climb. The capital will fund product initiatives and expansion into specialty pharmacies. It follows InTandem’s December 2025 investment in The Phia Group. (Link)
  15. GTCR- and Heritage Group-backed Equiti acquires Lexi AI, pairing healthcare AI interpretation with its Martti human medical interpreter network. Equiti, the Sunrise, Florida-based healthcare language access company, acquired Lexi AI on October 28; terms were not disclosed. GTCR, with Heritage Group and lender Monroe Capital, bought the business from UpHealth for $180 million in November 2023. It was then combined with Voyce and rebranded as Equiti. Lexi was founded by Linh Pham and Siddharth UR and won the 2025 Harvard Business School New Venture Competition social enterprise grand prize. It provides AI interpretation in more than 35 languages, with EHR and phone integrations. Equiti’s Martti platform offers 24/7 qualified medical interpreters in 250+ languages. The add-on gives the sponsors an AI tier to sell alongside human interpretation. (Link)
  16. The Riverside Company adds CSB Nutrition to its Western Botanicals / WB Blends supplements manufacturing platform, expanding capsule and powder capacity. Western Botanicals is a vitamins, minerals, and supplements contract manufacturer founded in 1996. It has more than 200 employees and over 200,000 square feet across three facilities, and its products are sold through channels including Walmart, Amazon, Target, Vitamin Shoppe, and Costco. The Riverside Company acquired it in February 2026 and later added Yellow Emperor, a liquid specialist. CSB Nutrition, also based in Spanish Fork and founded in 2001 by Al Call, Craig Shields, and Jeff Bancroft, is a full-service VMS CDMO with roughly 60 to 200 employees and a cGMP, NSF-certified, FDA-registered facility of more than 100,000 square feet. It serves major VMS brands and also works in sports nutrition, personal care, and pet care. Together with WB Blends and Yellow Emperor, the platform now covers capsules, powders, and liquids in one place, including stick packs and gusseted bags. Riverside has made more than 40 platform investments under its health, longevity, and flavor thesis. (Link)
  17. US WorldMeds acquires Orbus Therapeutics, backed by Longitude Capital, H.I.G. HealthBridge, Abingworth, Adams Street Partners and Agent Capital, to advance eflornithine in recurrent Grade 3 astrocytoma. Louisville, Kentucky-based US WorldMeds acquired Menlo Park, California-based Orbus Therapeutics on October 27. It made an undisclosed upfront payment, with development, regulatory and sales milestones plus tiered U.S. royalties to follow. That gives Orbus’s investors an exit with continued upside: Longitude Capital, H.I.G. HealthBridge, Abingworth, Adams Street Partners and Agent Capital. In the Phase 3 STELLAR trial, Orbus’s oral eflornithine missed its primary overall-survival endpoint across all patients. However, a subset defined before unblinding, patients with IDH-mutant Grade 3 astrocytoma, showed median overall survival of 34.9 months versus 23.5 months. The program holds FDA Breakthrough Therapy designation. US WorldMeds already markets eflornithine as IWILFIN for high-risk neuroblastoma and plans to discuss a path forward with the FDA. (Link)
  18. Water Street Healthcare Partners- and JLL Partners-backed EVERSANA acquires Estima Scientific, adding AI-powered health economics and outcomes research tools to its life sciences commercialization platform. Estima, a London firm founded in 2019, pairs specialist consulting with proprietary generative-AI applications for economic modeling, systematic literature reviews and network meta-analysis. Its tools have been used by large pharma and by the U.K.’s NICE. EVERSANA will fold the capability into its market access and value-and-evidence offerings; co-founders Tim Reason and Andy Gimblett join the EVERSANA team. (Link)
  19. Azenta (NASDAQ: AZTA) acquires SynPlexity and signs an exclusive license with Elegen to expand its GENEWIZ gene synthesis business. Burlington, Massachusetts-based Azenta (NASDAQ: AZTA) announced two deals on October 30; terms were not disclosed. It acquired SynPlexity, a synthetic biology company that makes high-throughput pooled gene libraries, and signed an exclusive license for Elegen’s cell-free DNA manufacturing platform. SynPlexity’s pooled assembly technology produces thousands of full-length gene variants in a single library. That lets researchers build and test large numbers of candidates, including AI-generated designs. Elegen’s platform aims for higher DNA quality, faster delivery and compact production lines that can be sited near customers. Both strengthen GENEWIZ, Azenta’s sequencing and gene synthesis unit, in synthetic biology, protein engineering and AI-enabled drug discovery. Azenta will give more detail on its fiscal Q4 2026 earnings call. (Link)
  20. Peak Rock Capital-backed HuFriedyGroup signs an agreement to acquire the dental business of Italy’s Mectron, adding piezoelectric surgery, ultrasonic scaling and air-polishing systems to its global dental portfolio. HuFriedyGroup is a global maker of dental instruments, infection prevention products, and instrument management systems. Founded in 1908, it has roughly 1,500 employees, more than 10,000 products, and distribution in about 100 countries under brands including Hu-Friedy, Crosstex, Omnia, Accutron, and SS White. Peak Rock acquired it from Steris in 2024 for roughly $788 million. Mectron, founded in 1979 in Carasco, Italy, pioneered piezoelectric bone surgery with the launch of PIEZOSURGERY in 2001. It has about 250 employees and operates in more than 70 countries. The deal covers Mectron’s dental operations in Italy, the non-medical activities of its German subsidiary, and the dental activities of Piezosurgery Inc. in Columbus, Ohio. Mectron keeps its medical business. Manufacturing stays in Carasco under a multi-year supply agreement, so HuFriedyGroup gains the technology and commercial reach without disrupting production. (Link)
  21. NeckWise acquires Western Carolina Chiropractic, adding an Asheville practice to its upper cervical chiropractic network. NeckWise is a growing multi-state network of upper cervical chiropractic offices founded in 2024 by Dr. Drew Hall, Dr. Matt Morris, and Dr. Rusty Lavender. The group focuses exclusively on the atlas (C1) and axis (C2) vertebrae, using in-office cone beam CT imaging and gentle, no-twist adjustments rather than traditional full-spine manipulation. It has offices across Florida, including the Tampa Bay area, Sarasota, Fort Myers, and Riverview, and in the Salt Lake City area of Utah. The Asheville practice’s Dr. Michael DiNunzio stays on. The location will add in-office 3D cone beam imaging, consistent with NeckWise’s standard across its network. (Link)
  22. Baystate Health integrates Baystate Mercy Hospital and its affiliates into its system, adding a Springfield hospital and 45 medical group entities. Baystate Health is a not-for-profit integrated system serving more than 800,000 people across western Massachusetts. It has roughly 13,000 employees, five hospitals, and more than 900 beds, with roots dating to the founding of Springfield Hospital in 1883. Baystate Medical Center is a 780-bed academic medical center and a teaching site of UMass Chan Medical School. Mercy Medical Center, previously part of Trinity Health of New England, faced financial pressures that put its long-term viability at risk. The $300 million integration covers Baystate Mercy and its joint venture affiliates, along with 45 medical group entities. Emergency department staffing moves to Baystate’s board-certified faculty, and the Sister Caritas Cancer Center joins Baystate’s cancer program. The systems are also unifying on an Oracle Health EHR. (Link)
  23. PsychPlus acquires California-based Precision Psychiatric Services, adding more than 100 psychiatrists and hospital partnerships to its technology-enabled mental health platform. Houston-based PsychPlus announced on October 23 that it had acquired Precision Psychiatric Services, a physician-led psychiatric group founded in 2018; terms were not disclosed. Precision brings more than 100 psychiatrists and hospital partnerships across California. Its hybrid in-person and telepsychiatry model covers emergency departments, inpatient units, consultation-liaison, outpatient and addiction settings. The deal follows PsychPlus’s acquisition of digital therapeutics developer Koa Health. Together they form a roll-up spanning prevention through hospital-based care. PsychPlus already works with more than 200 hospital systems and reports reach of over 6 million people. (Link)

Venture Deals and Other

  1. Bristol Myers Squibb (NYSE: BMY) leads Pathos AI’s $237 million Series E at a roughly $3 billion post-money valuation, with existing investors participating. New York-based Pathos AI closed a $237 million Series E on October 23 at a post-money valuation of about $3 billion. Bristol Myers Squibb (NYSE: BMY) led and existing investors participated. BMS’s check comes with a strategic deal: non-exclusive access to Pathos’s Foundry agentic AI platform across its R&D portfolio, and three-year exclusive rights in neuroscience. Pathos will also license a neurological-disease dataset from Tempus AI (NASDAQ: TEM) under a five-year, $55 million agreement. Proceeds will scale Foundry and advance four clinical oncology assets. The priority is JSKN-016, a TROP2/HER3 bispecific ADC heading toward registrational studies. The others are pocenbrodib, AstraZeneca (NASDAQ: AZN)-partnered AZD4241 and MET inhibitor DO-2. (Link)
  2. Avego leads Opentrons Labworks’ $40 million Series E, with BroadOak Capital Partners participating, to scale lab robotics and AI-driven autonomous science. Opentrons Labworks raised a $40 million Series E on October 30. Healthcare investor Avego led, with additional investment from BroadOak Capital Partners; valuation was not disclosed. Opentrons has deployed more than 11,000 lab automation robots in over 80 countries to academic groups, diagnostic labs and global pharma companies. Avego’s thesis is that drug developers and AI companies are moving to automated workflows that generate machine-usable data, and that these workflows will converge on Opentrons’ platform. Proceeds will fund AI-driven experiment execution, faster protocol development, broader instrument capabilities, deeper integration with other lab-automation tools, and expansion into new markets. Earlier this year Opentrons began using Nvidia (NASDAQ: NVDA) Isaac and Cosmos to generate physical-AI training data. (Link)
  3. Threshold Ventures leads Vera Health’s $28.5 million Series A, with Mantis VC, SV Angel, Y Combinator and Gradient participating, bringing total funding to $32 million. San Francisco-based Vera Health announced a $28.5 million Series A on October 27 led by Threshold Ventures. New investors Mantis VC and SV Angel joined, and existing backers Y Combinator and Gradient tripled down, bringing total funding to $32 million. The investor case is capital efficiency. With 12 employees, Vera’s evidence-graded clinical decision support tool grew from a few thousand to more than 800,000 clinicians in 190 countries in a year, mostly through word of mouth. It has been the world’s most downloaded clinical app every month since June and reaches about one in four physicians in Spain and Italy. Funds will build evidence infrastructure, enter new markets and deepen medical-society partnerships such as ACEP. (Link)
  4. Metis MedTech leads StimCardio’s oversubscribed $30 million Series A, with Catalyst Health Ventures and corporate strategic investors participating, to fund a pivotal trial of its wearable atrial fibrillation therapy. StimCardio closed an oversubscribed $30 million Series A on October 29. It was led by Metis MedTech, the family office of John Slump, with Catalyst Health Ventures, several unnamed corporate strategic investors and new and existing backers participating. Slump’s prior exits include Farapulse and Atraverse Medical, more than $1.25 billion in combined deal value. He and Catalyst managing partner Joshua Phillips sit on the board. The round funds the NeuroPulse 2 pivotal study and an FDA De Novo submission for Rhyvive. Rhyvive is a wrist-worn nerve stimulator designed to reduce atrial fibrillation recurrence after catheter ablation, where 30–40% of patients relapse. It follows positive sham-controlled NeuroPulse 1 data published in Heart Rhythm. (Link)
  5. Valtruis leads Midstream Health’s $20 million Series A, with Andreessen Horowitz, Foundry and CommonSpirit Ventures participating, to scale AI financial operations for health systems. San Francisco-based Midstream Health raised a $20 million Series A on October 29 led by Valtruis. Andreessen Horowitz, Foundry and CommonSpirit Ventures continued to participate, bringing total funding to $29.2 million. Midstream’s AI agents check health-system contracts, claims, purchasing and pharmacy data against live transactions. They recover missed rebates, unenforced pricing terms and payer underpayments. Its customers represent more than $100 billion of annual operating expenses and over 250 hospitals. They include CommonSpirit Health, Mount Sinai and Houston Methodist, plus new clients Fairview Health Services and Keck Medicine of USC. Midstream has found 1,500+ recovery opportunities this year and is on pace for $100 million of client savings by year-end. (Link)
  6. Headline leads ClarityCare’s oversubscribed $16.5 million Series A, with Arthur Ventures, FJ Labs, Maverick, firstminute, Top Harvest Capital and Transpose Platform participating. ClarityCare announced an oversubscribed $16.5 million Series A on October 26, bringing total funding to nearly $20 million. Headline led, with new investors Arthur Ventures and FJ Labs and existing backers Maverick, firstminute, Top Harvest Capital and Transpose Platform. ClarityCare is an AI services company for health plans. Its Electra agent reviews authorization requests against clinical guidelines and member benefits and keeps a full audit trail. It can approve or escalate a request but never issues a denial, which reduces exposure as AI-driven denials draw scrutiny. Electra now handles requests end to end, from fax intake through case creation to outbound letters. The funding will go to hiring, new products and expansion into the government sector. (Link)
  7. Deerfield Management leads Setara Biosciences’ $90 million Series A, with Canaan, Droia Ventures, EcoR1, Euclidean Capital, Regeneron Ventures and Jazz Pharmaceuticals participating. Setara was formed after Jazz acquired Actio Biosciences for its lead epilepsy program. The new company takes the rest of Actio’s genetics-driven pipeline, led by the TRPV4 inhibitor STAR-0871 (formerly ABS-0871) for Charcot-Marie-Tooth type 2C and overactive bladder. David Goldstein, former Actio CEO, leads Setara. (Link)
  8. Camino Partners, founded by KIND Snacks founder Daniel Lubetzky, invests $62 million in Intake Breathing, the maker of a magnetic nasal dilator system. This is Intake’s first institutional capital and Camino’s largest investment. The Santa Barbara company has sold more than 100 million pairs of its breathing tabs and is approaching $100 million in annual revenue. Capital goes to team growth, retail expansion and scaling the consumer wellness brand. (Link)
  9. Viatris (NASDAQ: VTRS) launches its $36.50-per-share cash tender offer for Pacira BioSciences (NASDAQ: PCRX), valuing the non-opioid pain management company at about $1.46 billion. Viatris (NASDAQ: VTRS) started a cash tender offer on October 30, through its subsidiary Peach Purchaser Sub, for all outstanding shares of Pacira BioSciences (NASDAQ: PCRX). The price is $36.50 per share, about $1.46 billion in equity value. The offer follows a merger agreement signed October 8, and Pacira’s board unanimously recommends that shareholders tender. It expires at the end of November 16 unless extended. Closing requires a majority of shares to be tendered and antitrust clearance; there is no financing condition. A second-step merger under Delaware Section 251(h) will follow without a shareholder vote. The deal adds Pacira’s non-opioid pain franchise, led by EXPAREL, to Viatris’ branded portfolio. (Link)
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Healthcare News, Deals, and Investments Update October 26th, 2026

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Healthcare News and Deals

  1. EQT Private Equity has agreed to acquire QIAGEN N.V. (NYSE: QGEN) in a recommended all-cash voluntary public takeover offer valuing the molecular testing company at approximately $12.1 billion enterprise value. EQT XI, through Crown NL Bidco, is offering €46.50 per share in cash — a 40.3% premium to the unaffected XETRA close on July 8. Including about $1.1 billion of net debt, the deal values QIAGEN at roughly $12.1 billion. The Dutch tools and diagnostics company has been the subject of takeover talk for years. Both boards are recommending the offer after a strategic review. Affiliates of the Abu Dhabi Investment Authority and Canada Pension Plan Investment Board are co-investing. QIAGEN will keep its name and brand. (Link)
  2. HealthSpan Partners to Acquire Surgery Partners, Establishing a Leading Outpatient Surgical Care Platform HealthSpan Partners has agreed to buy Surgery Partners (NASDAQ: SGRY), the Bain Capital-backed operator of ambulatory surgery centers and surgical hospitals. Reports put the value at about $6 billion, including roughly $3.5 billion of debt, with Bain keeping its nearly 40% stake. Surgery Partners runs more than 170 surgical facilities across 30 states. HealthSpan is an affiliate of Bon Secours Mercy Health and is picking up a large outpatient surgical footprint. (Link)
  3. AEA Investors-Backed American Oncology Network Agrees to a $2.4 Billion Sale to Cencora, Adding 350+ Community Oncology Providers to Cencora’s Physician MSO Platform. Cencora (NYSE: COR) signed a definitive agreement on October 20 to buy the roughly 96% of Fort Myers-based American Oncology Network (OTCQX: AONC) it does not already own. The deal values AON at $2.4 billion enterprise value — $2.3 billion at closing plus up to $100 million in contingent value rights. Some AON holders can roll up to 25% of their equity; if they do, Cencora expects to write a check of about $1.7 billion for 75% ownership. AON brings more than 350 providers across 21 states and adds 12 new states to Cencora’s MSO footprint. Clinical decisions stay with AON physicians. It is Cencora’s fourth physician-platform deal since January 2025, after Retina Consultants of America, OneOncology and the EyeSouth retina business. (Link)
  4. Kohlberg Is Buying Alcanza Clinical Research from Martis Capital for Approximately $800–850 Million Axios Pro reported that Kohlberg is buying Alcanza Clinical Research from Martis Capital for between $800 million and $850 million. Alcanza is a clinical research site network founded in 2021 that focuses on inclusive trial access and runs more than 25 sites across the U.S. and Puerto Rico. It does Phase I–IV studies for pharma sponsors and CROs. (Link)
  5. Blackstone- and TPG-Backed Hologic Signs a Definitive Agreement to Acquire Reveal Genomics, Maker of the HER2DX Breast Cancer Test Hologic, now owned by Blackstone and TPG after a take-private of up to about $18.3 billion, has agreed to buy Barcelona-based Reveal Genomics. Reveal makes the HER2DX genomic test, which helps guide therapy for HER2-positive breast cancer. The test sits alongside Hologic’s Breast Cancer Index assay and adds another treatment-selection tool. It is the first clear sign that the new owners plan to use Hologic as a buy-and-build platform in women’s-health diagnostics. (Link)
  6. Apogem Capital Leads a Minority Investment in Revelstoke-Backed Family Care Center, Returning Capital to LPs While Revelstoke Stays In Family Care Center, the outpatient mental health platform backed by Revelstoke Capital Partners, closed a minority equity sale led by Apogem Capital. Revelstoke is staying in. Since Revelstoke partnered with founder Dr. Chuck Weber in December 2020, the company has grown entirely by opening new clinics — from four locations in one state to more than 50 across five states. It now has more than 800 providers and expects nearly 1 million treatment sessions in 2026, across therapy, psychiatry, TMS and intensive outpatient programs. Revelstoke described the deal as a way to return capital to its LPs without selling the whole company. Jefferies advised Family Care Center. (Link)
  7. EQT-Backed Sagility Agrees to Acquire Tennessee’s Chirok Health for Up to $32.35 Million, Adding Clinical Documentation Integrity and Coding Capability Sagility (US) Holdings, a subsidiary of the EQT-backed healthcare BPO Sagility, signed a definitive agreement on October 21 to buy Chirok Health, a Tennessee firm that does revenue cycle management, clinical documentation integrity and medical coding. The price is $20 million at closing plus up to $12.35 million in earnout. Chirok did about $9 million of revenue in 2025. The deal adds provider-side capability for Sagility. (Link)
  8. Altaris-Backed Tegria Acquires CloudWave, Its First Add-On Since the Providence Carve-Out, to Build a Healthcare Cybersecurity and Hosting Platform Tegria, the healthcare consulting, managed services and technology company that Altaris carved out of Providence in January 2026, bought CloudWave. CloudWave does cloud hosting, managed IT and cybersecurity (LECO sold BlueOrange to Cloudwave in 2025) only for healthcare clients, and it runs a dedicated 24/7 security operations center. CloudWave CEO Erik Littlejohn becomes president of Tegria’s Enterprise Technical Solutions. It is Tegria’s first add-on since the carve-out. (Link)
  9. Renovus Capital Partners Strikes a Deal for Chicagoland Orthopedic Home Health Provider Aspire Home Health Care Renovus Capital Partners, the Philadelphia-area lower-middle-market firm that already owns Louisiana home health and hospice platform Superior Health Holdings, has agreed to buy Aspire Home Health Care. Aspire was founded in 2013 and is based in Morton Grove, Illinois. It provides skilled nursing and therapy at home for patients recovering from orthopedic procedures, surgeries and complex conditions. The deal gives Renovus a post-surgical home health business in the Chicago market. (Link)
  10. Kohlberg-Backed Trinity Life Sciences Acquires Verix to Add AI-Driven Commercial Execution Tools for Pharma Trinity, the life sciences commercialization advisory and analytics firm that Kohlberg & Company has owned since 2021, bought Verix. Verix’s Tovana platform uses AI to give pharmacommercial teams next-best-action recommendations, patient finding and HCP targeting, and it is used by large pharma companies. The deal moves Trinity from strategy and insights into software that field teams actually use day to day. (Link)
  11. New Harbor Capital’s LGM Pharma Acquires New Jersey Contract Lab Sannova Analytical LGM Pharma, the API sourcing and CDMO platform that New Harbor Capital has majority-owned since 2017, bought Sannova Analytical. Sannova is a Somerset, New Jersey contract lab that does bioanalytical and CMC testing for pharma and biotech companies. It had been backed by SFW Capital Partners since 2022. The deal adds an East Coast testing operation to LGM’s development and manufacturing services. (Link)
  12. Blue Sea Capital-Backed One Physics Adds Two West Coast Medical Physics Firms, Expanding into the Pacific Northwest and Northern California One Physics, the largest outsourced medical physics company in North America, is buying two firms that do diagnostic medical physics and radiation safety work in the Pacific Northwest and Northern California. Blue Sea Capital has backed One Physics since 2019 and moved it into a single-asset continuation vehicle earlier this year. The company has already done 22 acquisitions and serves more than 7,000 client sites in 45+ states with over 210 physicists. (Link)
  13. HCAP Partners- and Salt Creek-Backed Real Diagnostics Adds Saliva-Based Oral Health Testing Firm SimplyTest Real Diagnostics (RealDx), the Maryland-based high-complexity molecular lab that Salt Creek Capital and HCAP Partners bought in September 2025, acquired SimplyTest. SimplyTest makes saliva-based tests, including its PERIO test, that identify bacteria linked to gum disease, and it sells to dentists and functional medicine practices. The add-on gives RealDx, which serves physician offices and clinics in 17 states, a cash-pay dental product line next to its reimbursed UTI, STI and respiratory testing. (Link)
  14. Thompson Street Capital-Backed Savillex Completes Carve-Out of Entegris’ Life Sciences Fluid Management Business Savillex, the Eden Prairie, Minnesota high-purity fluoropolymer and single-use bioprocessing company backed by Thompson Street Capital Partners, completed its acquisition of Entegris’ (Nasdaq: ENTG) life sciences fluid management business. The business includes Aramus and PE bioprocess bags, single-use assemblies and components. The carve-out deepens Savillex’s position with biopharma and cell and gene therapy manufacturers, and lets Entegris focus on semiconductor materials. It follows Savillex’s 2024 acquisition of Optimum Processing. Sidley advised Savillex. (Link)
  15. Sopris Capital Merges the Blackford Analysis Imaging-AI Platform, Carved Out of Bayer, into Portfolio Company Azra AI Azra AI said on October 20 that it had completed the acquisition of Blackford Analysis from Sopris Capital. Sopris had carved Blackford out of Bayer earlier in the month. Blackford’s vendor-neutral orchestration platform gives radiology departments access to more than 130 imaging-AI applications from 45+ vendors. Azra identifies patients with cancer and other complex conditions and coordinates their follow-up care. Putting the two together connects the imaging finding to the care pathway that follows it. (Link)
  16. Pacific Lake Partners-Backed Vitana Pediatric & Orthodontic Partners Acquires Louisiana’s Hollis Orthodontics, Its Fifth Deal of 2026 Vitana Pediatric & Orthodontic Partners, a dentist-led partnership organization backed by Pacific Lake Partners that focuses only on pediatric dental and orthodontic practices, bought Hollis Orthodontics in Prairieville, Louisiana, outside Baton Rouge. The practice is led by Dr. Bryan Hollis. Vitana now supports practices in Florida, Alabama, Louisiana, Pennsylvania and New Jersey. This is its fifth deal of 2026. (Link)
  17. DuneGlass Capital-Launched Aviva Aesthetics Enters Florida Through a Partnership with Allenby Cosmetic Dermatology Aviva Aesthetics, the founder-led medical aesthetics network that DuneGlass Capital launched, partnered with Allenby Cosmetic Dermatology, the practice of cosmetic dermatologist Dr. Janet Allenby. It is Aviva’s first Florida location, about seven weeks after the Perfect Skin Center partnership took the platform to 20 sites. Aviva markets its “Entrepreneur Equity” model to founders who have turned down traditional private equity MSO structures: founders keep decision-making authority and financial upside. (Link)
  18. Redesign Health and Sheba Medical Center’s ARC Global Merge in an Approximately $2 Billion Combination to Build an End-to-End Health System Innovation Platform Redesign Health, the venture and applied technology firm that has launched more than 60 healthcare companies, is merging with ARC Global, the innovation arm of Israel’s Sheba Medical Center. The combined company is valued at about $2 billion, according to a source familiar with the deal. The parties have also agreed to buy AVIA, the health-system digital technology advisory firm. Brett Shaheen will be CEO; Stephen Klasko, M.D., will chair the board; and ARC founder Eyal Zimlichman, M.D., will become vice chair. The idea is to put engineering, AI and capital inside health systems so clinician-originated ideas can become products and companies that scale across a network of more than 100 systems. (Link)
  19. Horizon Mutual Holdings, parent of Horizon Blue Cross Blue Shield of New Jersey, has entered an agreement to acquire Summit Health New Jersey, including its New Jersey CityMD urgent care centers, in a transaction reported at more than $1 billion. Horizon confirmed the agreement, which is subject to regulatory review and could close by year-end. Summit Health is one of New Jersey’s largest multispecialty physician networks; the New Jersey portion includes primary, specialty and 39 CityMD urgent care sites. It is Horizon’s largest deal since its 2022 conversion to a nonprofit mutual holding company. Horizon said the acquisition is meant to preserve access, improve quality and affordability for members, and support continued independence of Summit’s physicians. (Link)
  20. Alcon Acquires Rhode Island’s Neurotech Pharmaceuticals for $550 Million Plus Milestones, Picking Up ENCELTO, the Only FDA-Approved MacTel Type 2 Therapy Alcon completed the acquisition of Neurotech Pharmaceuticals on October 20 for $550 million upfront, plus possible contingent payments tied to commercial milestones. The deal brings in ENCELTO (revakinagene taroretcel-lwey), an encapsulated cell therapy implant approved in March 2025 and the only FDA-approved treatment for macular telangiectasia type 2. Neurotech estimates there are about 25,000 MacTel patients in the U.S., with 2,000 to 3,000 new diagnoses each year. Alcon expects the deal to modestly add to sales growth and slightly reduce core EPS in 2027, then add to EPS after that. (Link)
  21. Labcorp Agrees to Buy Myriad Genetics’ Prenatal Health Testing Business for $210 Million in Cash as Myriad Narrows Its Focus to Oncology Labcorp (NYSE: LH) signed a definitive agreement to buy Myriad Genetics’ (NASDAQ: MYGN) Prenatal Health testing business, including the Prequel, Foresight, SneakPeek and FirstGene tests, for $210 million in cash plus inventory value at closing. Labcorp expects about $160 million of first-year revenue, slight accretion to adjusted EPS in year one, and average diagnostics-segment margins by the end of year two. The carve-out comes out of Myriad’s strategic review, after prenatal revenue fell about 16% in the first half of 2026. It follows closely on Labcorp’s $722 million BioReference deal. (Link)
  22. Risant Health has signed a definitive agreement to acquire INTEGRIS Health, Oklahoma’s largest nonprofit health system, pending regulatory approvals. INTEGRIS Health would become Risant’s third member system after Geisinger and Cone Health. Headquartered in Oklahoma City, INTEGRIS operates roughly 20 acute and specialty hospitals and the state’s largest physician network, employing about 13,000 people. It will keep its name, medical staff, brand and leadership. Risant, backed by Kaiser Permanente, is focused on value-based care; INTEGRIS leadership pointed to access to additional capital, technology including Epic, and clinical tools that the system could not scale on its own. (Link)
  23. Bolt Biotherapeutics, Inc. (NASD: BOLT) has completed the acquisition of Prana Therapies, Inc. in a stock-for-stock reverse merger concurrent with a $120 million private placement. The sign-and-close reverse merger exchanges Prana equity for Bolt common stock and Series D non-voting convertible preferred stock. A concurrent financing raises $120 million in upfront gross proceeds from the purchase of Series D preferred, with up to an additional $60 million available if accompanying warrants are exercised. Investors include Deep Track Capital, ADAR1 Capital, Andreessen Horowitz, LYFE Capital, Eventide Asset Management, Casdin Capital and Soleus Capital. The combination focuses on Prana’s INSPIRE platform and lead bispecific antibody PRA-216 (IL-4Rα/TSLP). Proceeds are expected to fund operations into 2028. Sheila Gujrathi, M.D., former Prana CEO, joins as chief strategy officer and board member. (Link)
  24. OpenAI Acquires a16z-, 8VC- and Insight-Backed Orchestra Bio to Bring Agentic Drug-Program Management into Its Rosalind Life Sciences Suite OpenAI acquired San Francisco-based Orchestra Bio on October 20. Orchestra’s AI agents help biopharma teams coordinate drug development programs — they monitor studies, track timelines and flag delays that can spread across a program. Orchestra came out of stealth in 2025 with about $20 million from investors including Andreessen Horowitz, 8VC and Insight Partners. Its team and technology will be folded into Rosalind, OpenAI’s life sciences offering, which already has pharma partners such as Moderna and Novo Nordisk. (Link)
  25. Hackensack Meridian Health Signs a Definitive Agreement to Acquire Hunterdon Health, Committing $230 Million to the Central New Jersey System Hackensack Meridian Health, New Jersey’s largest health system, signed a definitive agreement to acquire Hunterdon Health. Hunterdon is anchored by the 184-bed Hunterdon Medical Center teaching hospital and has more than 30 medical practices. HMH committed $230 million in investment, and the deal would bring it to 19 hospitals. No closing timeline was given. (Link)
  26. Beacon Biosignals Acquires Snap Diagnostics to Expand EEG-Enabled Home Sleep Testing Nationwide Beacon Biosignals, an AI-powered precision neurotechnology company, has acquired Snap Diagnostics, a national home sleep testing provider. Snap operates as a Medicare-registered Independent Diagnostic Testing Facility accredited by The Joint Commission and serves patients in all 50 states with end-to-end shipping, scoring and interpretation. The acquisition more than doubles Beacon’s patient reach and gives it a channel to bring its FDA-cleared EEG headband technology into primary care, telehealth and specialty settings starting in 2027. (Link)
  27. CentraCare and Stellis Health Announce Plans to Integrate, with Completion Targeted for January 1, 2027 CentraCare, the integrated nonprofit health system serving Central, Southwest and West Central Minnesota, and Stellis Health, a physician-owned medical group with more than 60 providers in Wright County, have announced plans for Stellis to become part of CentraCare. The combination builds on a longstanding partnership that already includes a shared Epic electronic medical record and collaboration at CentraCare – Monticello. Stellis shareholders have voted to proceed. (Link)
  28. Further Acquires Welbi to Combine Senior Living Sales AI with Resident Experience Management Further, the Charleston-based AI platform for senior living sales and marketing, has acquired Ottawa-based Welbi, a resident experience platform. Together they reach more than 8,000 senior living communities. Further’s suite (ProspectAI, SalesAI, ResidentAI, OpsAI) helps operators attract and convert prospects; Welbi helps communities personalize daily programming and track engagement. Welbi founder and CEO Elizabeth Audette-Bourdeau will continue to lead Welbi’s operations. (Link)
  29. Vimian Group Expands Its Veterinary Surgical Offering Through the Acquisition of Norfolk Medical Products Vimian Group AB (publ), the Stockholm-based animal health company, has signed an agreement to buy Norfolk Medical Products, a family-owned U.S. provider of implants and consumables for veterinary soft-tissue surgery. Norfolk, founded in 1981, does about $6.9 million in revenue and specializes in vascular access ports and related implantable solutions. The deal is Vimian’s first move into specialized soft-tissue surgery and is expected to have a marginal impact on 2026 earnings. (Link)

Venture Deals and Other

  1. Star Therapeutics has raised $200 million in private financing to advance its preclinical pipeline of novel biologics after prior exits of subsidiary assets. The round was co-led by OrbiMed and Janus Henderson Investors, with participation from RA Capital Management, Sofinnova Investments and others. Star, founded by Adam Rosenthal, has a history of discovering biologics and advancing them through subsidiaries that were later sold or taken public, including the sale of Vega Therapeutics to Incyte and the IPO of Electra Therapeutics. Rosenthal called the financing a reset, with the company focusing on early-stage programs rather than a hub-and-spoke model going forward. Proceeds will be used to move current preclinical assets into the clinic. (Link)
  2. OpenAI Startup Fund and Founders Fund Co-Lead a $45 Million Round for Coherence Neuro’s AI-Enabled Brain Tumor Implant The round was co-led by OrbiMed and Janus Henderson Investors, with participation from RA Capital Management, Sofinnova Investments and others. Star, founded by Adam Rosenthal, has a history of discovering biologics and advancing them through subsidiaries that were later sold or taken public, including the sale of Vega Therapeutics to Incyte and the IPO of Electra Therapeutics. Rosenthal called the financing a reset, with the company focusing on early-stage programs rather than a hub-and-spoke model going forward. Proceeds will be used to move current preclinical assets into the clinic. (Link)
  3. FirstMark Capital Leads a $40 Million Series A for Baba, with CVS Health Ventures Joining, to Build AI Care Teams for Medicare and Medicaid Members New York-based Baba, an applied AI company working on the Medicare and Medicaid experience, raised a $40 million Series A led by FirstMark Capital. CVS Health Ventures and Valtruis joined, and General Catalyst, Genius Ventures and Ground Up Ventures returned. The funding will expand Baba’s clinical care teams, advance its AI research and grow its health plan partnerships. (Link)
  4. Healthleap has raised $38 million in seed and Series A funding to expand its AI platform that flags at-risk hospital patients from electronic medical records. The total comprises an $8 million seed round co-led by Sequoia Capital and First Round Capital and a $30 million Series A led by Hummingbird Ventures. Founded in 2022 by siblings Jemima and Josiah Meyer, the South African-origin company analyzes clinical notes, labs, vitals and medication records to surface risk scores for conditions such as malnutrition and delirium. It is used in more than 50 hospitals including Penn Medicine, Cedars-Sinai, Houston Methodist and Emory Healthcare. (Link)
  5. Allumia Ventures Leads a $10 Million Series A for Home-Based Lung Disease Telehealth Provider Kivo Health Kivo Health, a telehealth provider of virtual pulmonary rehabilitation and care for COPD and other chronic lung diseases, raised a $10 million Series A led by Allumia Ventures, according to Axios Pro. Home-based respiratory care is an area health plans and risk-bearing providers have been looking at for value-based contracts. (Link)
  6. Zai Lab Limited (NASD: ZLAB; HKEX: 9688) has entered a securities purchase agreement for a $250 million PIPE financing of American Depositary Shares. Zai Lab agreed to sell 11,340,000 ADSs at $22.04 each, for expected gross proceeds of about $250 million before fees. The financing is led by TCGX and includes participation from abrdn World Healthcare Fund, ADAR1 Capital Management, Balyasny Asset Management, Cormorant Asset Management, Frazier Life Sciences, RA Capital Management, RTW Investments, Wellington Management and others. Net proceeds are intended primarily to support continued global development of zocilurtatug pelitecan (zoci), the company’s DLL3-targeting antibody-drug conjugate. Leerink Partners is the exclusive placement agent. (Link)

IPOs:

  1. Lycia Therapeutics Prices Upsized $317.5 Million Initial Public Offering at $18 per Share Lycia Therapeutics, Inc. (NASD: LYCA), a clinical-stage biotechnology company developing LYTAC degraders of disease-causing extracellular proteins, priced its upsized IPO of 17,640,000 shares at $18.00 per share, for expected gross proceeds of about $317.5 million. The company had originally marketed 14.7 million shares at $16–$18. Lead programs include LCA-0061 (an IgE degrader for food allergy) and LCA-0321 (an autoantibody degrader for Graves’ disease). Jefferies, TD Cowen, Evercore ISI and Guggenheim Securities are joint book-running managers. The platform is based on work by Nobel laureate Carolyn Bertozzi. (Link)
  2. Anthropic Files Public S-1 for Nasdaq IPO Under Ticker (NASD:ANT) Anthropic, the AI lab behind the Claude model family, has filed a public S-1 registration statement with the SEC for an initial public offering on Nasdaq under the ticker ANT. The Claude maker is targeting a valuation of $1.5–2 trillion, which would make it one of the largest IPOs on record and roughly double the $965 billion mark from its May funding round. First-half 2026 revenue was $16.3 billion, against about $4.6 billion for all of 2025. Third-quarter revenue reached $16.8 billion, up about 45% sequentially, and the company said it was profitable on an adjusted basis. The $80.7 billion first-half net loss is largely a non-cash charge tied to the rising valuation. (Link)