Private equity firms announced 166 healthcare transactions in Q1 2025, representing approximately 35% of all healthcare deals but showing a slight decrease from Q4 2024’s 170 transactions, according to data from LevinPro HC. Disclosed spending totaled $29.98 billion across just 11 deals, with Sycamore Partners’ $17.9 billion acquisition of Walgreens Boots Alliance leading the pack. Physician Medical Groups remained the most popular target with 66 deals, followed by digital health with 25 transactions. MB2 Dental Solutions, backed by Warburg Pincus and Charlesbank Capital Partners, was the most active buyer with seven acquisitions, though this represented a 65% decline from Q1 2024.
