April 2025: Healthcare M&A Snapshot

View our summary of the key M&A, private equity and venture capital deals across the UK healthcare sector in April 2025 below.

Notable Sector Deals: April 2025

Another significant healthcare investment for Fremman Capital, acquiring Amethyst Healthcare Group, a European cancer care provider
Amethyst operates 19 cancer treatment centres in Europe, delivering essential oncology services (primarily radiotherapy) to over 50,000 patients annually
The business was founded in 2009, with exiting owners, The Rohatyn Group, investing in 2019 to support the group’s expansion
Fremman plans to accelerate Amethyst’s growth in what is a highly resilient and non-cyclical market, which is expected to show continued growth
The deal further highlights Fremman’s healthcare credentials, with a portfolio which is increasingly weighted towards the sector

A new platform for Downing as it enters the neuro-rehab market with the acquisitions of Inspire Neurocare and Hambereley Neurocare
The combined business operates four facilities across Southampton, Basingstoke, Camberley and Worcester, with a total of 188 beds
The platform will be led by Tim Street and Daniel Kay, two highly experienced healthcare executives
The neuro-rehab market is valued at £1.1bn, with a significant capacity gap estimated between 10,000 and 15,000 beds
Downing are looking to capitalise upon this opportunity by consolidating the market and creating additional capacity

An interesting £5.75m investment for Foresight into The Functional Gut Group
Functional Gut is a provider of diagnostic testing services for patients suffering from digestive health issues, encompassing both private and NHS services
Founded in 2014 by Anthony Hobson, the business operates 3 permanent clinics in Manchester, Cambridge and London, as well as multiple further collaborative clinics across the UK
The investment will support with geographical expansion and further scaling of the team
The deal highlights Foresight’s focus on the healthcare sector, including successful exits from Kingsbridge and Hospital Services in recent months

A strategic deal for Achieve Together, acquiring Outcomes First Group’s adult residential services, consisting of 18 homes
Achieve Together is one of the UK’s leading providers of specialist support for autistic people and people with learning disabilities
The acquisition is a strong geographical fit for Achieve Together, strengthening the local support options for autistic people
The deal highlights OFG’s movement away from residential care, with a core focus on education following investment from The Rise Fund in late 2023
Specialist residential and supported living services continue to be in demand from acquirers and investors due to their resilience and non-cyclical nature

Sub-sector	Target	Acquirer / Investor	Exiting PE
Case Management	ILS Case Management	HCML (Apposite)	N/A
Clinical Services	Amethyst Healthcare	Fremman Capital	TRG
Clinical Services	The Functional Gut Group	Foresight	N/A
Digital Health	Inicio Health	RDI Group (LDC)	N/A
Elderly Care	Monarch Care Group	RDCP Care (RDCP)	N/A
Medical Equipment	DCC’s healthcare division	Investindustrial	N/A
Medical Equipment	IMS Euro Group	Elysian Capital	N/A
Specialist Care	Inspire & Hamberley Neurocare	Downing	N/A
Specialist Care	OFG’s adult residential division	Achieve Together (InfraBridge)	N/A
Specialist Care	Spectra Care	Optimo Care (Oxygen EP)	N/A

Target	Description	Lead Investor	Investment
Spotlight Pathology	AI-powered pathology tools	EHE Ventures	£425k
Isomorphic Labs	AI drug discovery technology	Thrive Capital	$600m
SiSU Health	Early detection of risk factors for high blood pressure and obesity	Praetura	£1.25m
Skin Analytics	AI skin cancer tests	Intrepid Growth Partners	£15m
OSSTEC	3d printing for joint replacement	Empirical Ventures	£2.5m
Healsgood	Healthcare recruitment technology platform	Fuel Ventures	£1.5m