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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)
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Healthcare News, Deals, and Investments Update August 24th, 2026

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Healthcare Weekly News and Deals

  1. Francisco Partners to take Weave Communications (NYSE: WEAV) private for $650 million in an all-cash deal at $7.40 per share. The price is a 34% premium to Weave’s Monday closing price, and the company will delist after going public in 2021. The sponsor is buying a vertical platform serving independent medical, dental, optometry and veterinary practices, a customer base most software companies overlook. Weave generated $239 million of fiscal 2025 revenue, up 17%, and $65.5 million in the first quarter of fiscal 2026, also up 17%, yet its market value sits well below the $1.4 billion peak. Francisco Partners raised more than $75 billion and previously bought AdvancedMD for $1.125 billion. (Link)
  2. Universal Health Services (NYSE: UHS) has closed its $835 million debt-financed acquisition of virtual behavioral care provider Talkspace (NASD: TALK). The transaction valued Talkspace at $5.25 per share and was financed with debt. Talkspace keeps its brand and organizational structure, with CEO Jon Cohen reporting directly to UHS President and CEO Marc Miller. The target reported $229 million in revenue, $4.8 million in net income and $15.8 million in adjusted EBITDA in 2025, and runs a virtual network of more than 6,000 behavioral health professionals. Behavioral health already generated about 43% of the buyer’s $17.4 billion 2025 revenue, and UHS expects the deal to be slightly accretive to adjusted net income in the first year after closing. (Link)
  3. Thoma Bravo has to take Accelerant (NYSE: ARX) private at $20.25 per share in an all-cash deal valuing the specialty insurance risk exchange above $4 billion, with existing backer Altamont Capital Partners rolling over. The offer is a 49% premium to Accelerant’s closing price on 12 August 2026. Altamont Capital Partners, which controls around 82% of voting rights, supports the deal, and Altamont and the founders intend to keep an equity interest alongside Thoma Bravo. Thoma Bravo has committed equity, so completion does not depend on additional financing, and shareholders receive a 6% annual ticking fee if insurance regulatory approvals delay closing. Senior partner A.J. Rohde tied the thesis to MGA market growth. (Link)
  4. BioMarin (NASD: BMRN) to acquire Alesta Therapeutics for $275 million BioMarin Pharmaceutical has agreed to acquire Alesta Therapeutics to gain ALE1, a clinical-stage oral small molecule for hypophosphatasia. BioMarin will pay $275 million upfront and up to $215 million in development and regulatory milestones. Alesta will spin out all non-ALE1 assets prior to closing. ALE1 is being evaluated in a Phase 1/2a trial and has the potential to become the first oral therapy for the rare genetic bone disease. Closing is expected this quarter. (Link)
  5. Cityblock Health has signed an all-stock agreement to acquire Homeward Health and separately raised a $116 million Series E led by General Catalyst. Financial details of the all-stock acquisition were not disclosed. The $116 million Series E was led by General Catalyst and takes total capital raised past $900 million, against a $400 million 2021 round that set a roughly $5.7 billion valuation. The company says it is not focused on an exit at this time. Cityblock serves almost 200,000 members at $2.2 billion of annualized revenue, up 77% year over year, and the two businesses together will serve nearly 250,000 people. (Link)
  6. R1 to acquire Humata Health, the AI prior authorization company, to extend its Phare Operating System into payer-provider authorization workflows. Pricing was not disclosed and both parties are private. The investment case is denial prevention: prior authorization is a top-three driver of denials, and a KFF survey found one-third of insured adults call it the biggest burden in accessing care. Humata’s agentic workflows match payer policy, build AI-driven clinical bundles and manage requests to final approval, delivering up to a 96% first-pass approval rate while cutting write-offs by 30%, rescheduled appointments by 83% and staff touches by 45%. R1 folds the capability into Phare Intelligence and Payer Atlas and uses it to sell adjacent modules. (Link)
  7. Goldman Sachs Asset Management-backed Advanced Recovery Systems has acquired Promises Behavioral Health from Assured Healthcare Partners. Terms were not disclosed. Promises was previously backed by Assured Healthcare Partners, which converted its debt into equity in late 2021, after BlueMountain Capital Management bought the assets of bankrupt Elements Behavioral Health in 2018. Combined, the company operates 24 facilities in 14 states across medical detox, inpatient, residential and outpatient services. Goldman halted an auction of Advanced Recovery Systems in January, and addiction treatment dealmaking has fallen sharply, with six closings in the first half of 2026 against 19 a year earlier.(Link)
  8. General Catalyst-backed Radial has acquired TMS Health Partners, the MSO behind Mindful Health Solutions, delivering an exit for previous backer Aisling Capital. Terms were not disclosed. Radial is less than a year into its holding period with General Catalyst and has multiplied its clinical footprint with a single transaction. The combination brings Radial to 27 clinics across seven states, most of them from Mindful Health Solutions. The deal also caps a quick turnaround for Aisling Capital. Radial supports clinics with drug and device procurement, billing and RadialOS, an AI clinical decision support tools. (Link)
  9. Flexpoint sells ArtesRx to Linden Capital Partners Flexpoint Ford has completed the sale of ArtesRx, its specialty behavioral health pharmacy platform, to Linden Capital Partners. Formed in 2023, ArtesRx focuses on complex medication regimens for patients with serious mental illness, substance use disorders, and intellectual and developmental disabilities. Under Flexpoint ownership the platform expanded from three pharmacies in a single state to 16 locations across 15 states through organic growth and targeted M&A. Financial terms were not disclosed. (Link)
  10. BPOC partners with Master Medical Equipment and ReNew Biomedical BPOC has made strategic investments in Master Medical Equipment and ReNew Biomedical, sister companies that provide capital equipment distribution, rental, repair and preventative maintenance services to the pre-hospital and post-acute markets. The Jackson, Tennessee-based businesses offer new and refurbished equipment along with biomedical service across a national footprint. Founder and CEO Mark Taylor will continue to lead the companies. Financial terms were not disclosed. (Link)
  11. Truehelm and QHP Capital-backed InformedDNA has divested its Genetic Testing Utilization Management business unit to Zyter, a subsidiary of global technology company Infinite. Terms were not disclosed. InformedDNA is a portfolio company of Truehelm and QHP Capital, and the sale follows the May 2026 divestiture of its Payment Integrity business unit. The sponsors are concentrating remaining capital behind DNAimpact, InformedDNA’s precision health platform, rather than running three businesses at once. The divested unit pairs genetics-trained specialists with evidence-based review for health plans, a capability that grows more valuable as genetic test volume and complexity compound. Truehelm partner and board member Conor Green described the process as sharpening InformedDNA’s focus. (Link)
  12. U.S. Oral Surgery Management, backed by Oak Hill Capital, has partnered with Cottonwood Oral & Maxillofacial Surgery of Albuquerque in its third New Mexico transaction. Terms were not disclosed and both parties are private. USOSM is a management services organization that works exclusively with oral and maxillofacial surgeons and now spans 31 states. The specialist-only mandate is the differentiator against general dental consolidators, and single-practice tuck-ins remain the primary growth mechanism. CEO Doug Drew pointed to clinical reputation, patient care and safety as the selection criteria for the practice. USOSM provides operational, financial and administrative support to surgeons alongside wealth creation. (Link)
  13. Integrated Dermatology has entered the Kentucky market through a partnership with Knuckles Dermatology, which now operates as Integrated Dermatology of Kentucky. Terms were not disclosed and both parties are private. The partnership took effect August 18, 2026 and covers patients in Corbin, Richmond and surrounding southeastern Kentucky communities. Dr. Knuckles continues to practice, and two board-certified family nurse practitioners, Lauren Hayes and Jordan Patterson, join to expand provider capacity. Established in 2004, Integrated Dermatology operates in nearly 30 states and offers dermatologists profit-sharing and full clinical autonomy while handling operational and administrative work centrally.(Link)
  14. Concentra (NYSE: CON) has completed the acquisition of four Minnesota Occupational Health medical centers in the Twin Cities, taking its statewide network to 10 sites. Terms were not disclosed. The four acquired centers sit in Coon Rapids, Eagan, St. Paul Midway and Shakopee, and began operating as Concentra on August 17. Concentra has served Minnesota since 2018 and will now run 10 medical centers across the state. The buyer also plans significant investment in the St. Paul Midway center to make it a regional flagship. The economics rest on density and employer cross-selling across injury care, physical therapy, drug testing and DOT exams. (Link)
  15. Momentum Health Partners has expanded its investment in Desert Pain Specialists, the Rancho Mirage, California interventional pain management practice it first backed in 2023. The amount was not disclosed. The Phoenix-based platform deployed additional capital into Desert Pain Specialists following the acquisition and integration of Dr. Roland Reinhart’s pain management practice. The new capital funds physician recruitment, service line expansion and operational growth across California’s Coachella Valley, where the practice has posted growth in new patient volumes since integrating. Partner Ryan Harper framed the follow-on as confidence in the team. Momentum invests across autism therapy, developmental therapies, behavioral health and specialty ambulatory care. (Link)
  16. SEVA has made a growth equity investment in healthcare price transparency company Serif Health, the first outside institutional capital the San Francisco business since 2020 launch. Terms were not disclosed. The round is Serif Health’s first outside institutional capital since it launched in 2020, and SEVA founder and managing partner Shalin Mehta joins the board. Serif cleans, validates and standardises pricing data from hundreds of payers and thousands of hospitals through its Signal platform, used by more than 250 organisations to benchmark rates, evaluate networks and track market dynamics. Proceeds accelerate sales and expand a pipeline of product features and data APIs, following the 2026 launch of Signal Ask, a plain-language query tool. (Link)
  17. Providence Equity Partners to acquire a majority stake in CheckedUp, with Varsity Healthcare Partners joining as strategic minority. Terms were not disclosed. Providence is acquiring alongside the co-founders, who continue to lead the company, and Varsity Healthcare Partners as a healthcare services-focused minority investor. CheckedUp reaches >17,000 specialty healthcare providers and 15 million patients through waiting-room televisions and interactive exam-room wallboards, and works with most of the top 40 pharmaceutical manufacturers. Providence is underwriting this as a digital out-of-home media asset, consistent with prior positions in OUTFRONT Media, DoubleVerify and Smartly.io. (Link)
  18. Cypress Ridge Capital-backed Cresso Health has partnered with Slate Financial, the Southwest Medicare and health insurance distributor. Terms were not disclosed. Cresso Health is backed by New York-based healthcare investor Cypress Ridge Capital. The logic is distribution roll-up economics. Slate gains access to Cresso’s carrier relationships, distribution infrastructure, proprietary marketing and lead-generation tools and compliance toolkit, while Cresso extends its field presence. CEO Frank Pistone described the goal as an omni-channel, multi-product platform serving the senior market. Cypress Ridge invests exclusively in healthcare with a thematic, growth-oriented approach. (Link)
  19. Rockmont Partners has exited RepScrubs, the automated scrubs dispensing platform, with THL named as acquirer in Healthcare DealHub’s headline. Terms were not disclosed. Healthcare DealHub titles the transaction as THL acquiring RepScrubs from Rockmont Partners, while the deal note itself describes the buyer as undisclosed. Rockmont led a secondary purchase in the business in 2024, making this a short hold. RepScrubs runs an automated scrubs dispensing platform that manages vendor credentialing and enforces policy compliance for perioperative vendors at hospitals and surgery centers. The asset sits in digital and health technology, which has recorded 289 tracked deals year to date. (Link)
  20. Berks Community Health Center to merge with Lancaster-based Union Community Care, a distress-driven nonprofit combination pending regulatory approval. No purchase price applies. Board vice chair Missy Orlando named two financial triggers, starting with a sharp drop in federal Medicaid funding from January that could cost roughly 100,000 Berks County residents their benefits. The center has also struggled to collect patient payments and lost several providers over the past year. Union Community Care operates 25 locations across Lancaster, Lebanon and Chester counties, covering family medicine, urgent care, dental, school-based care, behavioral health and pharmacy. (Link)
  21. Mitsui Chemicals (Tokyo: 4183) has completed its acquisition of Utah-based dental products maker Ultradent Products, making it a wholly owned subsidiary alongside existing dental unit Kulzer. The deal closed on August 14, ahead of the September 2026 schedule, after competition and investment approvals came through early. Mitsui is making oral care the third earnings pillar of its Life & Healthcare Solutions segment and targeting the number two position in global dental materials. The company expects more than $40 million in annual synergy by fiscal 2030. Integration moves the oral care global headquarters to the United States, with Ultradent CEO Dirk Jeffs also taking over as Kulzer CEO while Kulzer’s Chris Holden becomes Chief Strategy and Integration Officer of MC Dental Holdings America.(Link)
  22. Osage Venture Partners-backed Curavit Clinical Research has acquired the CRO assets of Lindus Health, which is shifting to its own therapeutic pipeline as Lindus Therapeutics. Terms were not disclosed. The transaction follows Lindus shifting focus to developing its own pipeline of therapeutic assets. What Curavit bought is European delivery capability, not scale for its own sake: the combined business can now run decentralized, hybrid and traditional trials across North America and Europe under one operational partner. Nate Lentz, managing partner at Osage Venture Partners and a Curavit board member, tied the thesis to sponsors needing more flexible, technology-enabled approaches to generating clinical evidence. CEO Joel Morse positioned the platform against both regional niche CROs and legacy providers. (Link)

Venture Deals and Other

  1. 8VC and Town Hall Ventures have led a $53 million Series D in Hopscotch Primary Care. 8VC and Town Hall Ventures led the round, with existing investors aMoon Fund, Citi Impact Fund, Alumni Ventures and K2 HealthVentures participating and new investors including the Autism Impact Fund, Kleiner Perkins chairman John Doerr, Heritage Provider Network founder Dr. Richard Merkin and the Leon Levine Foundation. Founded in 2021, Hopscotch serves more than 15,000 patients across the rural Southeast, concentrated in western North Carolina. Investors have hard numbers to point at: a Net Promoter Score of 89, patient retention above 90%, medical loss ratio improvement of more than 25 percentage points over two years and profitable operations in western North Carolina. (Link)
  2. Section 32, Thiel Bio, Founders Fund, Breyer Capital, Blue Venture Fund and JSL Health Capital have funded Network Bio’s $50 million launch alongside an NVIDIA partnership. Network Bio, a Palo Alto company building AI models trained on human biological data, launched on August 19 with $50 million from investors including Section 32, Thiel Bio, Founders Fund, Breyer Capital, Blue Venture Fund and JSL Health Capital. The money funds a research network with Mass General Brigham, the University of Pennsylvania and the University of Colorado Anschutz, supplying tissue and blood samples paired with longitudinal clinical outcomes across immunology, metabolic, cardiovascular and autoimmune disease. Investors are paying for exclusive data access rather than a clinical asset. The launch came with an NVIDIA partnership to scale the models. (Link)
  3. InnovaHealth Partners led Channel Medsystems’ Series C to $30 million, backing the commercial expansion of the Cerene endometrial cryotherapy platform. The Berkeley medical technology company has reached $30 million in an ongoing Series C led by InnovaHealth Partners. InnovaHealth has backed Channel Medsystems since 2021. Proceeds fund commercial organization expansion, physician and patient awareness, professional education and training, clinical evidence generation and market development infrastructure. The raise follows a commercial relaunch of the platform. Founder and Managing Partner Mortimer Berkowitz III pointed to unmet need in women’s health backed by clinical evidence and an experienced leadership team. (Link)
  4. MaxQ Medical raises $31.5 million Series A backed by Olympus MaxQ Medical has closed a $31.5 million Series A led by Atlantic Blue Ventures, S3 Ventures and Olympus Innovation Ventures, with participation from Hillside Capital. The financing advances the company’s transurethral imaging-and-therapy platform for prostate disease, the first spinout from Orchard Ultrasound Innovation. The system combines real-time imaging with tissue-selective therapy in a single outpatient procedure, initially targeting BPH with planned expansion into focal therapy for prostate cancer. Proceeds support clinical program advancement and team expansion. (Link)
  5. Leal Therapeutics announces $30 million Series A extension Leal Therapeutics has completed a $30 million second close of its Series A, adding Eli Lilly as a new investor alongside existing backers OrbiMed, Newpath Partners, Euclidean Capital, SV Health Investors’ Dementia Discovery Fund and others. Proceeds will advance LTX-001, a first-in-class brain-penetrant oral GLS1 inhibitor, through initial readout of its newly initiated Phase 1b/2a trial in schizophrenia, and progress LTX-002 through additional dosing cohorts in an ongoing Phase 1/2 ALS study. (Link)
  6. Werewolf Therapeutics and Ambros Therapeutics announce merger and concurrent $150 million private placement Werewolf Therapeutics (Nasdaq: HOWL) and Ambros Therapeutics have entered an all-stock merger agreement accompanied by an oversubscribed $150 million private placement co-led by RA Capital and Janus Henderson. The combined company, to operate as Ambros Therapeutics and trade as AMBX, will advance neridronate in the pivotal CRPS-RISE Phase 3 trial for Complex Regional Pain Syndrome Type 1. Capital is expected to fund operations through Phase 3 topline results, planned NDA submission and into the first half of 2029. (Link)
  7. Gossamer Bio announces up to $250 million structured private placement Gossamer Bio has arranged a structured private placement of up to $250 million, including $150 million of committed capital, to fund development of seralutinib through potential FDA approval. The financing extends runway for late-stage clinical and regulatory activities surrounding the company’s lead pulmonary arterial hypertension program. (Link)
  8. Biotechnology investor Bob Nelsen has led a $20 million round in Astromech, joined by Peak 6, NeoGenesis Capital, Builders VC and CAZ Investments, lifting the Colossal Biosciences spinout to a $3.8 billion valuation. The round was led by Bob Nelsen with participation from Peak 6, NeoGenesis Capital, Builders VC and CAZ Investments, bringing total capital raised to $60 million. The valuation is unusual relative to check size, and what investors are buying is founder pedigree and a data position rather than near-term revenue. Astromech was co-founded by Ben Lamm and geneticist George Church, spun out of Colossal Biosciences, and uses 3.8 billion years of evolutionary history as a primary training signal. Longevity is the proving ground, with 46 longevity-associated genes mapped so far. (Link)

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