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Healthcare M&A Review Q1 2024

A report highlighting the most active sub-sectors, along with a month-by-month summary of the key deals across the UK healthcare market.

We are pleased to release our review of M&A, private equity and venture capital activity across the UK healthcare sector in Q1 of 2024.

Our report, which can be downloaded below, highlights the most active sub-sectors, along with a month-by-month summary of the key deals across the market.

Q1 2024 Healthcare M&A Review Summary

Deal Volumes

  • Deal activity across Q1 remained solid, without showing significant growth from the prior year comparable period

  • Market consensus appears to be that the second half of the year will see a material uptick in transactions

A chart of UK healthcare M&A transaction volumes by month

Sub-sector Activity

  • As ever, the resilient residential care market, spanning both elderly and specialist homes, continues to see robust activity with numerous single home and small group transactions during the quarter

  • The period also saw various digital health transactions, primarily focused on software and services into the NHS and private providers, rather than direct to consumer models

  • Community-based clinical services also remain a hotspot of deal activity, with further growth in deals across this segment expected throughout 2024

A chart showing the split of UK healthcare M&A transactions between sub-sectors.

Private Equity Involvement

  • Private equity investors remain a key driver of transactions in the healthcare sector, with involvement in over 40% of transactions during the quarter

  • The period saw new platform investments for Rockpool (Harley Academy), Five Arrows (Agilio Software), H2 Equity Partners (Medical Imaging Systems), A&M Capital (GBUK Group), and Cow Corner (Compass Recruitment)

  • We continue to see strong appetite from private equity for new investments into areas such as clinical services and specialist medical software


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