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Healthcare News, Deals, and Investments Update August 31st, 2026

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Healthcare Weekly News and Deals

  1. Sword Health to acquire OrangeDot, the parent company of Headspace, in an all-cash transaction reported between $200-$300 million. Sword Health, last valued at about $4 billion after raising just under $500 million, is buying OrangeDot for cash, with OrangeDot surviving as a wholly owned subsidiary. The $200–300 million range is a severe markdown against the roughly $3 billion at which Headspace and Ginger combined in 2021 and sits below the $321 million Headspace had raised. The deal follows Sword’s $285 million purchase of Kaia Health and extends its move from musculoskeletal care into behavioural health alongside its Mind and Dawn products. The Massachusetts filing dates from 22 July; the effective date is 14 September. (Link)
  2. American Healthcare REIT, Inc. (NYSE: AHR) has completed a $197 million acquisition of two Northern California senior housing communities from a joint venture between Affinius Capital and Alliance Residential Co. American Healthcare REIT has bought Sonrisa Senior Living in Roseville, rebranded Avella at Roseville, and The Watermark at Almaden, 545 units in total, for $197 million. Sonrisa alone traded at $94.1 million. The buyer has now completed roughly $1.4 billion of senior living acquisitions in 2026 and is pursuing a pipeline including $953 million under executed agreements, among them an $873 million Kensington portfolio. Senior housing occupancy reached 89.9% in the second quarter. Note the source headline wrongly casts the REIT as seller. (Link)
  3. Thomas Park Investments has acquired a four-property, $70 million medical outpatient portfolio from Stewart Investment Properties. The Annapolis healthcare real estate platform paid $70 million for 165,637 square feet across three Mid-Atlantic submarkets. The package is 1420 Beverly Road in McLean, a 47,185-square-foot building fully leased and anchored by MedStar Health; 6849 Old Dominion Drive in McLean, 69,330 square feet and 89% leased with Johns Hopkins Medicine as anchor; Children’s National at the former Takoma Theatre on Fourth Street NW in Washington, 24,140 square feet; and Luminis Health Easton Pavilion in Easton, Maryland, 24,982 square feet and fully leased to Luminis Health. Each asset is health-system anchored with remaining term and contractual rent growth. (Link)
  4. Ambulatory Partner Holdings has agreed to pay $54 million for a 60% stake in Atlas Surgery Center, the physician-owned neurosurgical ASC in Amherst, New York. Ambulatory Partner Holdings, an LLC owned equally by Rafael Axen, M.D., Matthew Jenkins and Ann Sariego, is buying 60% from seven of the nine physician members who together hold 90%.. Atlas, at 50 George Karl Boulevard, is a multispecialty Article 28 centre known for outpatient neurosurgery, angiograms, carotid stenting and complex spine, running on the order of 3,000 cases a year. Purchase price is equity-funded. New York’s Public Health and Health Planning Council has the establishment application on its 17 September agenda. (Link)
  5. The Federal Trade Commission has approved the final consent order clearing Ascension Health Alliance’s $3.9 billion acquisition of AmSurg LLC. The FTC finalised its order on 25 August, letting Ascension close a $3.9 billion purchase first agreed in mid-2025. Six centres go to SC Affiliates, a national ASC operator, and a seventh in Panama City to Florida Gastroenterology Center, a physician group already holding a minority stake. The divestitures cover Nashville, Panama City, Tulsa, Waco and Wichita, where the agency alleged reduced competition in gastroenterology, ophthalmology and orthopaedic outpatient procedures. Ascension must also give the FTC prior notice of ASC acquisitions in those metros for ten years. AmSurg operates more than 250 centres across 34 states. (Link)
  6. McKesson Corporation (NYSE: MCK) has signed a definitive agreement to acquire Precision Medicine Group, LLC from Blackstone (NYSE: BX) for approximately $2.25 billion. McKesson is paying roughly $2.25 billion for the Bethesda-based business after a multi-year Blackstone hold. The buyer is underwriting a services asset rather than a distribution one: biomarker intelligence, laboratory services, a global CRO, market access consulting and commercialisation support. That fits a portfolio McKesson has been reshaping by shedding non-core assets and concentrating capital in oncology and specialty, where Oncology & Multispecialty revenue rose 33% to $14.2 billion in fiscal first quarter 2026. The target will report inside that segment. Closing is subject to customary conditions and regulatory clearances. (Link)
  7. Eli Lilly and Company (NYSE: LLY) to acquire Merida Biosciences for up to $2.875 billion in cash, adding a precision immunology platform aimed at pathogenic autoantibodies. Consideration is cash up to $2.875 billion, covering an undisclosed upfront payment and contingent milestones. Cambridge-based Merida is building biologics that selectively degrade disease-causing antibodies while sparing normal immune function. Lead program MER511 is in Phase 1 for Graves’ disease and thyroid eye disease, with initial data showing reductions in pathogenic thyroid-stimulating antibodies and a favourable safety profile. A preclinical program, MER769, targets food allergy, asthma and chronic spontaneous urticaria. Merida launched last year with a $121 million Series A co-led by Bain Capital Life Sciences, BVF Partners and Third Rock Ventures. Close is expected in the fourth quarter, subject to customary clearances. (Link)
  8. Argenx SE (Euronext & Nasdaq: ARGX) completed a $2.2 billion all-cash acquisition of Forte Biosciences, Inc. (Nasdaq: FBRX) at $77.00 per share. The close, announced 27 August, follows a cash tender that drew about 87% of Forte shares. The deal adds FB102, which has clinical proof-of-concept in vitiligo and celiac disease and potential application across multiple autoimmune indications, to argenx’s immunology portfolio. The original agreement was signed 27 July at a 40.5% premium to Forte’s then-close. The transaction extends a 2026 pattern of large-cap immunology buyers paying for de-risked, mechanism-differentiated assets rather than waiting for later-stage readouts. Forte is now a wholly owned subsidiary and will delist from Nasdaq. (Link)
  9. Advent International has signed a definitive agreement to acquire a majority stake in New Zealand Clinical Research Group in a transaction local press valued at roughly NZ$1 billion, with Waterman Capital and clinician shareholders rolling over. Advent, one of the largest global private equity firms, is buying majority control of NZCR Group, a physician-led clinical trials platform operating across New Zealand and Australia under the NZCR, CMAX, Optimal and Fusion brands. Advent’s own release did not print a price; BusinessDesk and the Australian Financial Review put the equity value at about NZ$1 billion. Waterman Capital, which held 52%, and clinician shareholders are keeping a significant minority. Close is targeted for the fourth quarter subject to regulatory approvals. Advent will partner with CEO Tony Moffatt to deepen sponsor relationships and extend the network internationally. (Link)
  10. Radiology Partners has signed a definitive agreement to acquire Everlight Radiology from UK private equity firm Livingbridge in a cross-border teleradiology transaction reported at roughly $1 billion (approximately A$1 billion, or about US$715 million). Livingbridge is exiting Everlight after taking majority control in 2021 for a reported US$344 million, having itself bought the asset from Intermediate Capital Group. Everlight’s 800-plus consultant radiologists across 40-plus countries read on a follow-the-sun basis, roughly 2.5 million exams a year for 340-plus clients, avoiding premium US night-shift rates. Radiology Partners intends to extend Mosaic Drafting AI across the acquired network. The 17 August edition covered Livingbridge putting the asset up for sale with Radiology Partners named as bidder; this is the signed agreement. Regulatory clearances pending. (Link)
  11. TowerBrook Capital Partners to acquire a majority stake in Korean-American women’s wellness brand Rael for 400 billion won ($290 million), buying out a shareholder register including SoftBank Ventures, Unilever Ventures, Lotte Shopping, Shinsegae and GS Retail. TowerBrook is paying 400 billion won, about $290 million, for majority control of Rael, according to people familiar with the matter. The sponsor is buying a consumer health asset with a proven digital channel: Rael became Amazon’s top-selling sanitary pad label on an organic feminine care proposition. The cap table it is taking out is unusually broad for a brand of this size, spanning venture investors SoftBank Ventures and Unilever Ventures alongside strategic Korean retail capital from Lotte Shopping, Shinsegae and GS Retail. The deal is a rare cross-border consumer exit for Korean sponsors in a market skewed toward beauty. (Link)
  12. BioXcel Therapeutics, Inc. (Nasdaq: BTAI) has filed Chapter 11 and entered a stalking-horse sale with Teva Pharmaceuticals at $57.5 million upfront with milestones up to $125 million. BioXcel and two OnkosXcel subsidiaries petitioned in Delaware on 27 August to run a court-supervised 363 sale of substantially all assets. Teva Pharmaceuticals International GmbH is the stalking-horse bidder for $57.5 million in cash, assumption of specified liabilities, and up to $67.5 million of contingent development payments — a ceiling of $125 million if milestones hit. The estate includes IGALMI, the approved dexmedetomidine sublingual film for agitation, and the pending BXCL501 at-home filing. Teva posted a $5.7 million good-faith deposit and framed the bid as consistent with its Pivot to Growth business-development screen. Higher bids can still emerge at auction. (Link)
  13. Beyond Air, Inc. (Nasdaq: XAIR) has agreed to sell its controlling stake in NeuroNOS Israel Ltd. to Tel Aviv-listed UNIVO Pharmaceutical Industries (TASE: UNVO) for equity, warrants and up to $32.5 million in milestones. Beyond Air is selling 5,000,000 ordinary shares, about 58% of NeuroNOS on a fully diluted basis. Consideration is UNIVO ordinary shares equal to 19.99% of UNIVO’s issued capital, five-year warrants on a further 19.99% of UNIVO awards exercisable at $0.01, plus up to $6.5 million in cash development milestones and up to $26 million in commercial milestones. NeuroNOS is developing blood-brain-barrier-crossing small molecules that regulate nitric oxide, including BA-102 for autism spectrum disorder and Alzheimer’s and BA-101 for glioblastoma, both still preclinical. The sale lets Beyond Air concentrate on its nitric-oxide device franchise. (Link)
  14. Savista, the Alpharetta-based healthcare operations and revenue cycle management company, has acquired ABW Medical, an ambulatory revenue cycle management provider serving federally qualified health centres, medical groups, MSOs and virtual care platforms. Savista is buying its way out of a single-segment concentration. Its existing base is acute: more than 800 clients across 49 states, an Epic-certified training workforce and cancer registry services built over 35 years. ABW Medical adds the non-acute end, including community health centres, FQHCs, rural providers and virtual care, plus preferred RCM partner status inside the athenahealth ecosystem. That diversifies EMR exposure away from Epic dependence and adds safety-net billing around Medicaid wraparound payments. Clients pick up Savista’s global delivery scale and eligibility, coding and A/R tooling. (Link)
  15. Eqwal Group has acquired Atlantic Pro Care, the Portland, Maine prosthetics and orthotics practice, extending the French patient-care network’s East Coast footprint. Eqwal is a global prosthetics and orthotics patient-care group that already owns Steeper in the UK and has been rolling up US clinics including United Prosthetics, American Orthopedics, Optech, South Beach Prosthetics and Prosthetic & Orthotic Group. Atlantic Pro Care, founded in 1993 by J.P. Donovan in Portland, fits custom devices for patients with upper- and lower-limb loss and spinal conditions and handles assessment, fabrication, fitting and rehab. The buyer framed the tuck-in as deepening US patient-care density rather than adding a product brand. No purchase price was published. (Link)
  16. Thurston Group, the Chicago healthcare-focused private equity firm, has made a platform investment in Pixel Health, a Holyoke, Massachusetts provider of IT consulting and managed services to hospitals and large physician groups. Thurston is entering healthcare IT services for the first time through Pixel Health, founded in 2001 and built into a multi-brand group spanning strategy and transformation consulting, managed IT services, and product sales and licensing. Managing partner Dan Davis framed the deal as consistent with the firm’s practice of backing leaders in high-growth healthcare verticals. The sponsor has installed Brad Mondschein, previously the company’s chief operating and legal officer, as chief executive. The investment case is outsourced IT for health systems that cannot staff internally against rising cybersecurity, interoperability and AI-integration complexity. (Link)
  17. BV Investment Partners-backed Imagenet has acquired Analytica Consulting, the California data engineering and artificial intelligence firm, in a transaction that closed on 21 August 2026. Imagenet is moving from transaction-processing BPO toward an end-to-end data and AI solutions position for payers. Analytica Consulting, founded in 2015, brings cloud data warehousing, automated ETL pipelines, enterprise visualisation, data science and governance. The commercial angle is in-situ modernisation: layering pipelines and machine learning models on top of health plans’ existing core systems rather than requiring replacement, and applying prescriptive models to denial trends across digital mailroom, claims adjudication and contact centre lines. The target retains its government, life sciences, manufacturing and education clients. (Link)
  18. Switchboard Health has acquired virtual musculoskeletal provider Livara Health, formerly SpineZone, and closed an oversubscribed equity round of more than $5 million backed by First Trust Capital Partners, Route 66 Ventures, A1 Health Ventures, Allumia Ventures and Martin Ventures. The acquisition converts Switchboard from a referral navigation software layer into a value-based care delivery provider. Livara, founded by orthopaedic spine surgeon Kamshad Raiszadeh, pairs orthopaedic physicians with physical therapists and psychosocial providers, and its outcomes were independently validated by the Validation Institute in 2024 at a 43% reduction in MSK spend, largely through avoided low-value surgery. Switchboard reports routed patient volume up 500% over nine months. This is its second acquisition in under a year after Conduce Health. The raise draws both companies’ existing investors plus new backers. (Link)
  19. WellStack, the Madison, Wisconsin healthcare data platform led by Chief Executive Rich Waller, has acquired DeLorean Artificial Intelligence, the predictive analytics and risk stratification company led by Chief Executive Severence MacLaughlin, to build an end-to-end healthcare decision intelligence platform.WellStack runs an agentic healthcare data platform with a managed data foundation, analytical studio and modular Decision Hubs. DeLorean AI adds continuous evaluation of clinical, claims and operational data to flag emerging risks, predict adverse events and recommend next actions. The combination targets the gap between data aggregation and intervention, moving customers from what happened to what to do about it. Client case studies cite improved patient adherence, reduced avoidable utilisation and revenue optimisation. MacLaughlin framed the merger as necessary for deep integration with health system data lakes and EMRs. (Link)
  20. ALIS, the Chicago-based senior living clinical and operational software platform, has acquired the Ella and elbi technology platforms from TapRoot Interventions & Solutions in its first acquisition. ALIS has grown organically from a clinical EHR into an operating system unifying CRM, clinical, billing, AI and business intelligence; Ella and elbi are its first bought capability. The platforms deliver point-of-care, AI-native guidance to frontline caregivers handling dementia and behavioural episodes, using non-pharmacological, person-centred interventions. The economics sit in two measurable outcomes senior living operators are judged on: fewer high-risk behavioural incidents and reduced psychotropic medication reliance, both increasingly tied to reimbursement and length of stay. The platforms also capture behavioural data for population health reporting. Announced at the buyer’s user conference. (Link)
  21. Globus Medical, Inc. (NYSE: GMED) has acquired Higgs Boson Health, the Durham, North Carolina digital healthcare experience company incubated out of Duke University, to build out its surgical intelligence pillar. What Globus is buying is a team of software developers and AI scientists rather than a revenue base. The acquirer frames the technology as part of a surgical intelligence pillar linking outcomes and analytics in a closed loop across the full episode of care. The stated long-term target is 95% good outcomes at ten years in musculoskeletal surgery, and management is treating patient and provider experience as the missing layer of that ecosystem. The deal follows a second quarter reported on 6 August in which sales grew and non-GAAP EPS guidance was raised. (Link)
  22. Ekoscan Integrity Group, the Eurazeo-backed French non-destructive testing group, has signed a definitive agreement to acquire the US-based NDT Digital business of Carestream Health, Inc., adding the INDUSTREX computed and digital radiography portfolio. Ekoscan is buying Carestream Health’s US NDT Digital unit — computed radiography systems, digital radiography detectors and imaging software under the INDUSTREX brand — plus the commercial, applications and service organisation in Rochester, New York. Radiographic imaging joins the buyer’s existing ultrasound and eddy-current lines, making a multi-method inspection platform for aerospace and defence, oil and gas and power generation. Carestream is narrowing to healthcare imaging. Ekoscan has been an active consolidator, backed by Eurazeo and EDF Pulse Ventures. Closing is expected in the fourth quarter of 2026. (Link)
  23. Golden State Dermatology, the physician-owned platform backed by Sorenson Capital and Yukon Partners, has acquired Summit Dermatology in Colorado Springs, its first move outside California. Golden State Dermatology has been a California story, roughly 45 locations and more than 125 providers built through steady practice tuck-ins with Sorenson Capital and Yukon Partners behind it. Summit Dermatology, led by board-certified dermatologists Kevin Whaley and Jeanne Osborn, is the first out-of-state platform entry and opens the Colorado market. The target offers medical and procedural dermatology including skin cancer screening and Mohs micrographic surgery, and retains its location, phone number and staff. Founder Ed Becker frames the strategy as building the leading comprehensive dermatology network across the Western US. (Link)
  24. Regent Surgical has added Integrated Surgical Center of Arizona, an Avondale multispecialty centre owned by IMS Care, AZ Heart Arrhythmia Associates and Valley GI Consultants, to its ambulatory surgery centre network. Regent Surgical, founded in 2001 and headquartered in Nashville, is a developer and operator of ambulatory surgery centres that has grown from 8 to 32 centres in eight years on site-neutral payment economics. The Arizona addition is a physician-partnership structure rather than an outright buyout: ISCA is owned by IMS Care, the state’s largest independent multispecialty physician group, cardiac electrophysiology group AZ Heart Arrhythmia Associates, and Valley GI Consultants. The strategic value is cardiac migration into outpatient settings across greater Phoenix. Regent also runs a joint venture with Cleveland Clinic. (Link)
  25. Great Point Partners-backed VetnCare has acquired Geary Veterinary Hospital, the Walnut Creek, California practice founded in 1979 and led by Dr. Gillian Hamilton and Dr. Erica Weiss. Great Point Partners, the Greenwich healthcare-only investor, backed VetnCare in 2022; Geary is the seventh acquisition since, and the second in roughly six weeks after Holistic Veterinary Care in Oakland on 14 July. The company has more than doubled in size in three years under that ownership. The model is regional density rather than national scale: VetnCare concentrates in Northern California, and Geary deepens the East Bay position with a practice offering wellness and preventive care, diagnostics and imaging, surgery, dental and senior pet care. (Link)
  26. Gravity 360, Inc., the Covington, Kentucky parent of Gravity Diagnostics, has acquired Med-Lake Laboratory, LLC, a CLIA-certified, CAP-accredited high-complexity clinical laboratory in Milledgeville, Georgia. Gravity 360 is building a regional laboratory platform across the southern United States, and Med-Lake gives it an operating base outside Kentucky for the first time. Founded in 2018, the target serves physician practices, skilled nursing facilities, behavioural health providers, judicial programmes and urgent care clinics across Georgia and Alabama, with a testing portfolio spanning clinical toxicology, blood and clinical chemistry, PCR infectious disease and reference services. Rather than consolidating volume into Kentucky, the buyer is retaining the Georgia laboratory, its team and its courier network as the foundation for further expansion. (Link)
  27. The Landes Group, the Dallas healthcare real estate investment firm, has completed its acquisition of Encore Medical Center in Bryant, Arkansas from Arkansas Heart Hospital and finalised a long-term lease with the University of Arkansas for Medical Sciences, financed with CGA Capital. The Landes Group has closed on a 108,055 square foot, 53-bed hospital and simultaneously locked in its tenant. UAMS gains capacity without deploying capital, paying annual rent reported at roughly $8.16 million with 2.1% escalation and a purchase option in ten years. That structure is the firm’s core strategy: single-tenant, net-leased healthcare assets where ownership is paired with financing that preserves provider capital. Longstanding financing partner CGA Capital supported the transaction, extending a relationship spanning more than $1.2 billion. Arkansas Heart Hospital operates the facility through 30 September, with UAMS assuming control on 1 October. (Link)
  28. Calera Capital-backed Cypress Health Partners has added Boston Sports Medicine’s ten outpatient clinics to the Bay State Physical Therapy network, effective 27 August. Cypress Health Partners, the Calera Capital-backed outpatient physical therapy platform operating across the Northeast, has partnered with Boston Sports Medicine, one of Greater Boston’s most established physical therapy providers. BSM’s ten outpatient clinics join the Bay State Physical Therapy network, expanding access across Massachusetts communities after more than 25 years of referral-base building. The transaction lands as the outpatient PT sector shifts from pure density plays toward a second phase of value creation focused on patient acquisition and reimbursement yield from existing clinical capacity. (Link)

Venture Deals and Other

  1. RA Capital has joined a $120 million Series C for AusperBio Therapeutics that will fund the Phase 3 registrational program for a functional hepatitis B candidate, taking capital raised since 2024 past $340 million.AusperBio, which operates from Hangzhou and California, closed the $120 million Series C on 31 August led by a new strategic investor, with RA Capital Management joining and existing backers HanKang Capital, Sherpa Capital, InnoPinnacle Fund, Qiming Venture Partners, YuanBio Venture Capital and CDH Investments returning. Proceeds fund the Phase 3 registrational program and commercialisation work for lead candidate AHB-137, advance next-generation candidate AHB-171, and support combination-therapy development for chronic hepatitis B. The round is the largest venture check in this week’s book and is a China-plus-US therapeutics financing rather than a services deal. (Link)
  2. The Gates Foundation has committed up to $35 million to ProFound Therapeutics, including $20 million initially, to find placental and serum protein targets for preeclampsia and eclampsia. ProFound Therapeutics uses its ProFoundry platform against the expanded human proteome. The Gates money funds discovery of novel proteins expressed in placenta and serum from women with preeclampsia and eclampsia, new drug targets and biomarkers, and a disease-specific AI tool. The initial $20 million is committed now; the balance is contingent on program progress. This is foundation capital rather than a priced venture round, and it sits beside rather than inside the company’s existing equity syndicate. Announced 27 August. (Link)
  3. TJ Parker, general partner at Matrix, has led a $26 million Series A in Metriport, with participation from ARTIS Ventures and Y Combinator, taking the open-source healthcare data infrastructure company to $28.4 million raised. Matrix led the round through TJ Parker, whose stated rationale is channel evidence: he sees dozens of consumer health companies each year and the strongest ones increasingly build on Metriport. The company was founded in 2022 by former AWS engineer Dima Goncharov and Colin Elsinga. The differentiator investors are underwriting is open-source infrastructure against legacy black-box interoperability tools, accessible via a single API, cloud warehouse connection or native EHR application. Customers include Amazon One Medical, Sollis Health and Color Health. Proceeds fund AI chart summarisation and agentic workflows for care teams. (Link)
  4. Define Ventures has led a $25 million Series B in Arintra, with participation from existing investors Peak XV Partners, Yale New Haven Health Center for Health Care Innovation, Endeavor Health Ventures, Y Combinator, Counterpart Ventures, Ten13 and Spider Capital. Define Ventures led the round, taking Arintra’s total funding to $51 million. The investment case rests on measurable throughput: the platform processes more than $5 billion in annual claim value for health systems representing over $50 billion in combined net patient revenue, and reports a 5.1% increase in compliant revenue capture, 32% cost reduction and 43% fewer coding-related denials. Endeavor Health, an early adopter, backed both the Series A and B. Partner Chirag Shah argued no prior solution had been comprehensive enough to move the bottom line. Proceeds fund enterprise expansion and deeper specialty coverage. (Link)
  5. Wing Venture Capital, Initialized Capital, Sozo Ventures, Hawktail, Lightspeed Venture Partners, Third Kind Venture Capital, Liquid 2 Ventures and SV Angel have backed Outer Bio with roughly $23 million as the Cambridge company exits stealth with its Yuna human-skin platform. What the syndicate is funding is a data asset rather than a clinical one: Yuna keeps full-thickness human skin alive and measurable for four weeks against roughly one week for conventional explants, generating longitudinal multi-omic data that improves the machine learning models over time. The commercial route is consumer skincare first, with partnership revenue already flowing. Founded in 2020 by chief executive Michael Polansky, with Stefani Germanotta on the board. The round size and the syndicate signal investors are underwriting a compounding biological dataset rather than a single product launch. (Link)
  6. Saga Ventures has led $22.5 million in seed and Series A funding for Hike Medical, joined by Indicator Ventures, Fifth Down Capital, RiverPark Ventures, strategic investor Orthofeet, Inc. and angels including Monaco chief executive Sam Blond and Jerod Mayo. Max Altman of Saga Ventures led the financing, and his stated thesis is vertical integration: owning the entire value chain end to end rather than layering software on a broken industry. The market economics justify it, with roughly $100 billion spent annually on orthotics, prosthetics and durable medical equipment and, per the company’s own research, 60 cents of every dollar lost to waste, remakes and fraud. Operating metrics already show remake rates cut from one in 15 to one in 400. Strategic investor and commercial partner Orthofeet participated. Proceeds fund hiring in San Francisco and manufacturing in Peoria, Illinois. (Link)
  7. Costanoa has led a $17 million Series A in Onos Health, joined by Flare Capital Partners and strategic investor CVS Health Ventures, the corporate venture arm of CVS Health Corporation (NYSE: CVS). The strategic money matters commercially: Aetna is already a customer, and the company says it is trusted by three of the six largest US health plans. Costanoa partner Amy Cheetham framed behavioural health as one of the largest and least understood categories in healthcare, with wide cost variation and low correlation to quality. Reported outcomes include a 35% improvement in clinical standard adherence and a 6%-plus cut in behavioural health programme costs within twelve months. Proceeds scale the decision-support tools payers use to manage behavioural benefit design and utilisation. (Link)
  8. Neotribe Ventures, Listen and Village Global have funded a $12 million round for Boston-based Legato, which has emerged from stealth to commercialise AI hearing-assistance glasses. Neotribe founder and managing director Kittu Kolluri framed the investment as a bet against the industry’s design orthodoxy, arguing that decades spent making hearing aids invisible has suppressed adoption and that positioning assistance as a style choice is the route to the market. The defensible asset is intellectual property: four granted patents and more than 20 pending applications. The competitive set is formidable, including EssilorLuxottica’s Nuance Audio and hearing features from Apple and Samsung. Proceeds fund a launch in the coming months and further development. (Link)
  9. August Global Partners has led a $10 million convertible note financing for Shape Memory Medical, joined by fellow new investor Taiwania Capital alongside existing backers HBM Healthcare Investments, Earlybird Venture Capital and WexMed II. The convertible structure defers valuation until clinical readouts land. Partner Davian Sim argued clinicians treating aortic aneurysms and dissections have long relied on repurposed materials, and identified an inflection point as two programmes advance. Proceeds fund follow-up in the AAA-SHAPE pivotal trial, fully enrolled at 180 patients across 48 centres, and the FLAGSHIP feasibility study. Both new investors also support Asia-Pacific expansion. HEAL Venture Lab assisted; the note sits ahead of those readouts rather than pricing the company now. (Link)
  10. Redesign Health has provided $2.25 million in seed funding to OmicsBank, the clinical data infrastructure company founded in 2025 by serial entrepreneurs Sumit Sinha and Vijay Goel.Redesign Health is the sole named backer of this seed round. Head of ventures Neil Patel was explicit about the underwriting order, saying the firm backed the founders first and the market second, citing five companies built between them and the relationship-intensive work of winning hospitals one at a time. The asset being capitalised is a deployed data network: infrastructure inside 90-plus hospitals and laboratories across South Asia, Southeast Asia and the Middle East, covering 12.5 million longitudinal records, 30 million DICOM images, six million pathology slides and 500,000 whole-genome sequences. Proceeds fund US and biopharma expansion. (Link)

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Healthcare News, Deals, and Investments Update May 4th, 2026

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  1. UCB (ENX:UCB) to acquire clinical-stage biotech Candid Therapeutics for up to $2.2 billion to expand its immunology pipeline with novel T-cell engagers UCB has entered into a definitive agreement to acquire Candid Therapeutics for $2 billion in upfront payments and up to $200 million in potential development milestones. The transaction, which hijacks Candid’s planned reverse merger with Rallybio, brings a pipeline of T-cell engagers (TCEs) led by cizutamig (BCMAxCD3), a Phase 1/2-ready bispecific antibody demonstrating deep B-cell and plasma cell depletion with manageable safety in autoimmune patients. This deal positions UCB to compete directly in the emerging TCE autoimmune field alongside Gilead, accelerating its strategy in high-unmet-need immune-mediated diseases through off-the-shelf, outpatient-compatible therapies. Candid’s additional assets, including a CD20xCD3 bispecific and preclinical trispecific TCEs, further strengthen UCB’s next-generation immunology platform. (Link)
  2. Chiesi Group to acquire KalVista Pharmaceuticals (NASD:KALV) for approximately $1.9 billion to strengthen its global rare disease portfolio Chiesi Group has entered into a definitive agreement to acquire KalVista Pharmaceuticals, Inc. (NASDAQ: KALV) for $27.00 per share in cash, representing an equity value of approximately $1.9 billion. The transaction, Chiesi’s largest acquisition to date, adds EKTERLY® (sebetralstat), the first oral, on-demand plasma kallikrein inhibitor for hereditary angioedema (HAE) attacks in patients 12 years and older. Already approved in the U.S., EU, UK, Japan, and other markets with strong commercial uptake ($49 million in 2025 U.S. sales), sebetralstat will bolster Chiesi Global Rare Diseases’ immunology franchise and support the group’s 2030 revenue target of €6 billion. The deal is expected to close in Q3 2026, subject to customary closing conditions including a successful tender offer. (Link)
  3. Atrium Health and WakeMed propose $2 billion strategic combination to expand services and create 3,300 jobs in North Carolina Atrium Health (part of Advocate Health) and Raleigh-based WakeMed have announced a proposed merger that includes a $2 billion investment in Wake County, aimed at expanding access across North Carolina and creating approximately 3,300 new healthcare jobs over five years. The combination would unite North Carolina’s largest health system with the Triangle’s leading community-based provider, enhancing specialty services (cancer, neurosciences, pediatrics), building the state’s largest nonprofit mental health network (>360 inpatient beds), and establishing its largest virtual care platform. Key initiatives include redevelopment of WakeMed’s Raleigh campus, hospital expansions, new Healthplex facilities, and strengthened medical education partnerships with Wake Forest University School of Medicine. The non-binding proposal requires approval from the Wake County Board of Commissioners and is subject to regulatory review. (Link)
  4. CareDx (NASD: CDNA) to acquire Naveris for $160 million upfront plus up to $100 million in milestones to enter viral-mediated cancer MRD surveillance CareDx, Inc. has entered into a definitive agreement to acquire Naveris, a commercial-stage precision oncology diagnostics company specializing in blood-based molecular residual disease (MRD) monitoring for HPV-driven cancers. The transaction includes $160 million in upfront cash consideration and up to an additional $100 million contingent on revenue milestones. Naveris’ flagship NavDx® test, based on proprietary Tumor Tissue Modified Viral (TTMV®) DNA technology, is Medicare-reimbursed and addresses a $4.5 billion total addressable market in head and neck, anal, and other viral-mediated cancers. The company generated approximately $34 million in unaudited 2025 revenue (with Q1 2026 revenue of ~$12 million at 65% gross margin) and has performed over 130,000 commercial tests to date. The acquisition extends CareDx’s precision medicine strategy from transplant diagnostics into specialty oncology while remaining neutral to 2026 Adjusted EBITDA guidance. The deal is expected to close in Q3 2026. (Link)
  5. CareMetx expands its patient access platform through the strategic acquisition of U.S.-based patient services and TheraCom free goods pharmacy operations from Cencora, Inc. (NYSE: COR) CareMetx has successfully completed the acquisition of Cencora’s (COR) U.S. Hub consulting services and its TheraCom pharmacy business to create a more robust technology-enabled services platform. This transaction integrates Cencora’s extensive staffing and pharmacy infrastructure with CareMetx’s AI-driven workflow automation. The deal positions CareMetx to serve over 155 pharmaceutical brands, focusing on reducing treatment barriers and improving patient access to specialty medications. Cencora will transition into a preferred partner role, ensuring a seamless transition for existing clients while leveraging CareMetx’s specialized digital solutions to enhance patient journeys across the healthcare ecosystem. (Link)
  6. Odyssey Therapeutics targets up to $810 million valuation in Nasdaq IPO for autoimmune and inflammatory disease pipeline Odyssey Therapeutics has filed to raise up to $238.3 million in its U.S. initial public offering by offering 13.2 million shares priced between $16 and $18 each, targeting a valuation of up to $809.9 million. The Boston-based biopharmaceutical company is developing precision therapies for autoimmune and inflammatory diseases, with lead candidate OD-001 in a mid-stage (Phase 2) trial for ulcerative colitis. Odyssey plans to list on Nasdaq under the ticker “ODTX,” with J.P. Morgan, TD Cowen, and Cantor serving as lead underwriters. The IPO comes amid a strong resurgence in biotech listings and would provide capital to advance its clinical pipeline in high-unmet-need immune-mediated indications. (Link)
  7. Infinite Epigenetics acquires Tally Health a longevity company co-founded by Dr. David Sinclair, seeded by L Catterton, to build a vertically integrated epigenetic testing platform Infinite Epigenetics has completed the acquisition of Tally Health, marking a major consolidation in the longevity and biological age testing market. The deal combines Tally Health’s consumer-facing brand and TallyAge™ test with Infinite Epigenetics’ scientific infrastructure and DNA methylation datasets. Tally Health will operate as a standalone consumer brand within the Infinite Epigenetics ecosystem, gaining access to advanced diagnostic tools from the TruDiagnostic arm. The acquisition is intended to accelerate the development of personalized interventions for aging and shift the healthcare focus toward proactive longevity. L Catterton, an initial investor in Tally, sees the exit as a milestone in the commercialization of biological age metrics. (Link)
  8. Global clinical research organization Parexel acquires Vitrana to integrate its AI-powered pharmacovigilance platform into Parexel’s comprehensive patient safety and clinical development services Parexel has bolstered its patient safety capabilities through the acquisition of Vitrana, a provider of AI-driven pharmacovigilance technology. The deal allows Parexel to offer an end-to-end safety model that automates data processing for regulatory submissions, reducing the administrative burden on clinical trials. Vitrana’s system-agnostic platform will be integrated into Parexel’s global infrastructure, enabling pharmaceutical clients to achieve greater accuracy in adverse event reporting. This strategic move aims to improve operational efficiency and global compliance while maintaining a focus on high-quality clinical outcomes. Vitrana will operate as a Parexel company, keeping its leadership team to drive continued technological innovation. (Link)
  9. Enterprise oncology platform Azra AI acquires Thynk Health to expand its AI-driven incidental findings and lung cancer screening platform across 500 hospitals Azra AI has acquired Thynk Health to create a unified platform for managing incidental medical findings and cancer screenings. The merger brings together two leaders in the oncology workflow space, serving a combined customer base that includes five of the top ten U.S. health systems. By integrating Thynk Health’s specific expertise in lung cancer screening, Azra AI enhances its ability to identify and track patients from the moment a potential issue is spotted in imaging. The combined entity aims to eliminate patient handoff failures and accelerate the diagnosis of life-threatening conditions. Thynk Health’s leadership will join Azra AI to oversee the expansion of the incidental findings platform. (Link)
  10. Quality data management leader Medisolv, Inc. acquires Health Elements AI to enhance its automated data abstraction and clinical registry reporting capabilities for healthcare organizations Medisolv has acquired Health Elements AI to modernize its clinical data extraction processes using advanced artificial intelligence. The acquisition targets the labor-intensive process of manual chart reviews, aiming to support the 4,000 abstracters using Medisolv’s platform across 1,800 hospitals. By integrating Health Elements’ AI-first software, Medisolv enhances its ability to capture structured data for critical reporting to organizations like the American Heart Association. This move follows Medisolv’s recent acquisition of Lilac Software, reinforcing its commitment to reinventing quality data usage. The combined technology will help healthcare providers transition more effectively to value-based care models by improving data accuracy and reducing staff burden. (Link)
  11. Pinnaql acquires Pharma Resource Group to expand scientific, formulation, and manufacturing advisory capabilities Pinnaql, Inc., a 3 Boomerang Capital portfolio company, has acquired Pharma Resource Group, Inc. (PRG), a provider of analytical sciences, formulation development, scientific writing, manufacturing, and change control advisory services to the pharmaceutical and life sciences industries. This marks Pinnaql’s third tuck-in acquisition in the past 10 months and significantly strengthens its end-to-end offering across the product lifecycle — from laboratory innovation and scale-up to validation, quality systems, regulatory compliance, and commercial readiness. Founded in 2007, PRG brings deep formulation and manufacturing expertise that complements Pinnaql’s existing strengths in engineering, validation, and quality consulting. The deal advances Pinnaql’s strategy to build a scaled, multi-disciplinary advisory platform serving biopharma, medical device, and CDMO clients. (Link)
  12. UConn Health signs letters of intent to acquire Bristol Hospital and Day Kimball Hospital as part of statewide expansion UConn Health has signed letters of intent to acquire Bristol Health (anchored by 154-bed Bristol Hospital) and Day Kimball Hospital (104-bed facility in Putnam), advancing its strategy to build a broader community hospital network across Connecticut. The non-binding agreements aim to close the Bristol transaction by January 2027 and the Day Kimball deal by fall 2026, subject to regulatory approval via the state’s Certificate of Need process. Both independent community hospitals have faced financial challenges, with negative operating margins in recent years, and the affiliations are expected to provide financial stability, expand access to academic medical center expertise, and strengthen UConn Health’s competitive position. The moves follow UConn’s recent acquisition of Waterbury Hospital and align with state-supported efforts to preserve essential healthcare services in the region. (Link)
  13. Nationwide Medical acquires Dynamic Healthcare Services (DHS) to expand home respiratory and durable medical equipment footprint Nationwide Medical, a leading provider of specialized respiratory care and home healthcare solutions, has acquired Dynamic Healthcare Services (DHS), a well-established provider of home respiratory supplies, durable medical equipment (DME), and oxygen therapy products serving Pennsylvania, New Jersey, and surrounding markets. The strategic acquisition strengthens Nationwide Medical’s regional presence and enhances its clinical programming for OSA, COPD, and other chronic respiratory conditions through DHS’s patient-centric model and strong local clinician relationships. This transaction expands access to comprehensive home-based care, including sleep therapy support, patient monitoring programs, and advanced equipment, while integrating DHS’s expertise with Nationwide Medical’s national infrastructure and remote monitoring capabilities. The deal aligns with Nationwide Medical’s growth strategy focused on improving therapy compliance and patient outcomes in the home medical equipment sector. (Link)
  14. The Ensign Group (NASD: ENSG)  acquires real estate and expands operations in Texas with new post-acute care campus The Ensign Group, Inc. has acquired the real estate and operations of a newly constructed 124-bed skilled nursing and rehabilitation facility in Texas, marking its continued expansion in the state. This transaction adds a modern, purpose-built campus to Ensign’s portfolio and brings the total number of operating facilities in Texas to 52. The acquisition aligns with Ensign’s disciplined “pay-for-performance” model and its strategy of entering high-quality, well-located assets in attractive markets. Financial terms were not disclosed. This move further strengthens Ensign’s presence in one of its key growth states and supports its long-term goal of portfolio diversification and operational scale in the post-acute care sector. (Link)
  15. Baystate Health and Trinity Health Of New England sign definitive agreement for integration of Mercy Medical Center Baystate Health has entered into a definitive agreement with Trinity Health Of New England to transition ownership of Mercy Medical Center (a 182-bed acute care hospital in Springfield, MA), its joint venture affiliates, and medical group entities to Baystate Health, subject to regulatory approvals. The transaction will allow Baystate to preserve Mercy’s nonprofit mission and Catholic legacy while providing financial stability and operational support to ensure long-term sustainability of high-quality local care in Western Massachusetts. Trinity Health Of New England will retain ownership of its Brightside for Families and Children services as well as continuing care operations, including Mercy LIFE, Beaven Kelly Home, and Saint Luke’s Home. The move addresses Mercy’s ongoing financial pressures from reimbursement challenges, outpatient shifts, and staffing shortages, strengthening regional access and positioning Baystate as a stronger safety-net provider for the Pioneer Valley. (Link)
  16. AI automation firm 1520ai acquires data insights firm Hospice Analytics to combine hospice-native artificial intelligence with established market utilization datasets. 1520ai has finalized the acquisition of Hospice Analytics, a firm with 20 years of experience in hospice data analysis. The merger unites 1520ai’s predictive modeling with Hospice Analytics’ deep market trends and utilization data to create a new platform focused on regulatory compliance and clinical quality. 1520ai, which has minority backing from simPAL Solutions, plans to use the acquisition to provide hospice providers with real-time answers to operational and financial questions. Hospice Analytics will maintain its branding and its partnership with the National Hospice Locator. (Link)
  17. Superior Health Holdings a Renovus Capital Partners portfolio company, acquires Chant Healthcare to expand its home health and hospice services into the Oklahoma market Superior Health Holdings has expanded into Oklahoma through the acquisition of Chant Healthcare, which operates as Compassion Homecare and Sans Bois Hospice. Backed by Renovus Capital Partners, Superior intends to leverage Chant’s strong presence in 11 Oklahoma counties and its large dual-eligible Medicaid patient base. The acquisition provides a strategic foothold for further expansion into the Oklahoma City and Tulsa markets. Chant Healthcare’s leadership will remain in place to manage local operations while utilizing Superior’s broader administrative and clinical infrastructure. This transaction marks Superior’s entry into its second state, following its established presence in Arkansas, and focuses on scaling rural healthcare delivery through specialized hospice services. (Link)
  18. The Medical University of South Carolina and Revival Healthcare Capital establish a five-year strategic innovation partnership to fund and scale next-generation medical technology solutions The Medical University of South Carolina (MUSC) has entered into a five-year partnership with private equity firm Revival Healthcare Capital to accelerate the commercialization of medical device innovations. Under the agreement, MUSC will provide clinical expertise and validation support for Revival’s portfolio companies, while Revival will provide the capital and operational leadership necessary to scale MUSC-originated technologies. This collaboration is designed to bridge the gap between academic research and commercial medical solutions. The partnership focuses on identifying unmet clinical needs and deploying high-impact medical devices into the healthcare market. Both organizations aim to create a repeatable model for innovation that improves patient outcomes through targeted investment and clinical rigor. (Link)

Venture Deals and Other

  1. DTC health platform Musely secures $360 million in non-dilutive capital from General Catalyst to accelerate customer acquisition for its dermatology and menopause care lines Musely has secured a $360 million capital commitment from General Catalyst through a non-dilutive financing structure. This arrangement allows Musely to fund aggressive marketing and customer acquisition efforts without giving up equity in the company. The funding will primarily support Musely’s core prescription skincare business and its recent expansion into the menopause care market. By utilizing non-dilutive capital, Musely maintains control over its operations while leveraging General Catalyst’s resources to scale its digital platform. The deal highlights a growing trend of high-growth, profitable direct-to-consumer health companies choosing creative financing over traditional venture rounds to fuel expansion. Musely plans to use the funds to reach millions of new patients globally. (Link)
  2. Bio-inspired BCI startup Axoft secures $55 million in Series A funding led by C.P. Group Innovation, with participation from Hillhouse Investment and Gaorong Ventures Axoft has raised $55 million in an oversubscribed Series A round to advance its implantable brain-computer interface (BCI) technology. The round, led by C.P. Group Innovation, included participation from Hillhouse, Gaorong, and the Stanford President’s Venture Fund, bringing Axoft’s total funding to over $60 million. Axoft is developing bio-inspired, soft implants that aim to provide long-term stability for neural communication without damaging brain tissue. The funding will support the expansion of global clinical trials, including the company’s first-in-human studies. This investment underscores the high demand for scalable BCI solutions that can treat neurological disorders. Axoft intends to use the capital to navigate regulatory approvals and scale its manufacturing capabilities. (Link)
  3. Truentity Health secures $35 million in oversubscribed Series A funding led by Evidenced VC, with participation from K-Street Capital, Cofounders Capital, and Tweener Fund. Truentity Health has closed a $35 million Series A round to scale its pharmacy-led clinical care model, which enables community pharmacies to provide chronic disease management services. The investment was led by Evidenced VC and saw participation from regional investors like Cofounders Capital and Tweener Fund. Truentity provides an AI platform that supports pharmacies in delivering reimbursable services such as remote patient monitoring and medication therapy management. The capital will be used to expand the company’s network into new state markets throughout 2026. By turning local pharmacies into clinical hubs, Truentity aims to improve healthcare access in rural areas and provide pharmacies with new, sustainable revenue streams. (Link)
  4. Prescription infrastructure startup Photon secures $16 million in Series A funding led by Healthier Capital, with participation from Notation, Flare Capital, and Evidenced Photon has closed a $16 million Series A funding round to modernize the digital prescription experience for patients and providers. The round was led by Healthier Capital and included participation from Flare Capital and Notation, bringing Photon’s total capital raised to over $25 million. Photon provides an API-driven infrastructure that allows patients to see real-time prescription pricing and stock availability at retail pharmacies. The new funds will support the expansion of Photon’s engineering team and the growth of its commercial partnerships with health systems and digital health brands. By simplifying the prescription routing process, Photon aims to reduce the estimated 20-30% of prescriptions that are currently abandoned by patients. (Link)
  5. AI pathology developer Techcyte bags $15 million in funding led by Van Tuyl Companies, with participation from strategic investors Zoetis Inc. (NYSE: ZTS) and Mayo Clinic. Techcyte has raised $15 million to scale its AI-powered digital pathology platform and drive the company toward profitability. The financing round was led by Van Tuyl Companies and saw continued support from Zoetis (ZTS) and Mayo Clinic. As part of the partnership, Techcyte will leverage Mayo Clinic’s massive dataset of 17 million pathology slides to further train its diagnostic algorithms. The Techcyte Fusion platform is designed to unify human, veterinary, and environmental pathology workflows into a single digital interface. The investment will be used to expand Techcyte’s global footprint and address the critical shortage of laboratory professionals by automating routine and complex diagnostic tasks. (Link)
  6. UnityAI launches its StaffOps platform for outpatient care following an $8.5 million Series A funding round led by Third Prime, with participation from Nashville Capital Network. UnityAI has introduced its AI-powered staffing and operations platform, StaffOps, following an $8.5 million Series A round led by Third Prime. The funding, which included participation from Whistler Capital Partners and Max Ventures, supports the company’s mission to optimize the outpatient healthcare workforce. StaffOps uses agentic AI to handle patient interactions and coordinate clinical tasks, currently managing over 300,000 interactions monthly. UnityAI has already partnered with large groups like Tennessee Oncology to improve clinical throughput and patient access. The new capital will be used to expand UnityAI’s go-to-market team and enhance its EHR integration capabilities, ensuring AI-driven tasks are safe, traceable, and highly efficient for medical staff. (Link)
  7. Specialty clinic automation startup TriFetch raises $1.9 million in pre-seed funding led by Nexus Venture Partners with participation from high-profile angel investors TriFetch has emerged from stealth with $1.9 million in pre-seed capital to develop AI automation tools specifically for independent medical practices. Nexus Venture Partners led the round, which also featured investment from notable angels affiliated with Google and Hippocratic AI. TriFetch’s platform acts as an automation layer that manages administrative tasks like patient scheduling, referral processing, and prior authorizations. Unlike traditional EHRs, TriFetch integrates with existing workflows to reduce the daily “paperwork” burden on clinicians. The funding will be used to build out the core product and expand its reach to more specialty clinics across the U.S., focusing on improving clinic profitability and reducing staff burnout. (Link)
  8. Depth Health raises $1 million in seed funding led by Green Harvest Capital Industries (GHC Industries) to scale its AI-driven hospital throughput optimization platform Depth Health has secured $1 million in seed financing to advance its Augmented Surveillance Intelligence (ASI) platform, which optimizes hospital patient flow and bed management. The funding round was led by Green Harvest Capital Industries, whose CEO, Ankit Patel, will join Depth Health’s Board of Directors. The capital will be used to enhance Depth Health’s explainable AI models, which provide real-time recommendations for patient placement and discharge. By joining the GHC Industries portfolio, Depth Health gains access to a broader ecosystem of clinical intelligence technologies. The investment aims to help hospitals reduce throughput bottlenecks and improve financial performance through data-backed operational efficiency. (Link)
  9. Virchu Sciences secures first institutional funding round to advance AI-powered oncology drug discovery platform Virchu Sciences has closed its first institutional investment round led by the Ohio Innovation Fund, with participation from JobsOhio Ventures and Rev1 Ventures. The Columbus, Ohio-based company operates at the intersection of AI, pharma, biotech, and academic research, developing multimodal AI solutions to accelerate drug discovery, advance treatment identification, and enable precision oncology testing. The new capital will support expansion of its data engineering and AI team, enhancement of its Data Discovery and Delivery Platform, and go-to-market efforts targeting academic institutions and commercial partners. The round underscores strong Ohio ecosystem support for AI-enabled life sciences innovation. (Link) (Link)