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Healthcare M&A Review Q2 2024

A review of mergers & acquisitions, private equity and venture capital activity across the UK healthcare sector in Q2 of 2024.

We are pleased to release our review of M&A, private equity and venture capital activity across the UK healthcare sector in Q2 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.



Q2 2024 Healthcare M&A Review Summary


Deal volumes


  • Deal activity across the healthcare sector remained robust in Q2 of 2024, but still lower than the peaks seen in 2021/2022

  • There is undoubtedly now an uptick in market activity, with deal volumes expected to increase in the second half of the year as market confidence grows

  • The general election does not appear to be impacting M&A activity in the healthcare market, but potential changes to capital gains tax represent a risk


A chart showing the number of deals each month.

Sub-sector activity


  • The quarter saw a number of significant elderly care deals, with groups such as Danforth and Hartford Care taking on investment from private equity and infrastructure investors to support expansion

  • Strong digital health activity has been primarily focused on social care software and digitisation of the sector

  • Community-based and tech-enabled clinical services, as well as niche medical equipment specialists, also remain hot spots in terms of deal activity


A chart slowing the split of deals between sub-sectors within the healthcare sector.

Private equity involvement


  • Private equity activity remained strong during the quarter despite a limited number of suitable investment opportunities coming to market

  • The period saw new platform investments for Ethos (Bray Group), Inspirit Capital (Wilmington Healthcare), Bay Tree (ABL Health), Omni Partners (Compass CHC) and August (Impact Futures) amongst others



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