November 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 November 2025 below.

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Notable Sector Deals: October 2025

RadNet’s acquisition of CIMAR

• RadNet has acquired CIMAR, a provider of cloud-native healthcare image-management solutions

• CIMAR powers image-management infrastructure across more than 50 percent of NHS Trusts and 80 percent of UK private hospital groups

• CIMAR will be integrated into DeepHealth, RadNet’s digital-health subsidiary, combining its infrastructure with DeepHealth’s AI-powered informatics, reporting and workflow tools

• The deal aims to create a more connected, efficient and scalable imaging-care platform across the UK and Europe

Acquisition of CF Group by Keys Group

• Keys Group has acquired CF Group, an independent tutoring and mentoring organisation, marking its fourth major acquisition this year

• CF Group delivers face-to-face tutoring and mentoring across East Anglia, operates four residential children’s homes in Suffolk, and provides independent social work assessments

• The business will sit within Keys Group’s Children’s and Education divisions, expanding its offer beyond specialist schools and residential homes

• The acquisition follows Keys Group’s recent deals for Mable Therapy and ADHD 360, further strengthening its alternative provision and hybrid learning capabilities

Zoetis’ acquisition of Veterinary Pathology Group

• Zoetis has acquired Veterinary Pathology Group (VPG), a network of veterinary diagnostic laboratories in the UK and Ireland

• VPG provides pathology services including histopathology, cytology, clinical pathology, microbiology and molecular diagnostics

• The acquisition expands Zoetis’ reference laboratory footprint and strengthens its veterinary diagnostics offering in the UK and Ireland

• VPG will join Zoetis’ Global Diagnostics business, supporting its strategy to deliver more comprehensive, technology-enabled diagnostic solutions for veterinarians

Lanas’ acquisition of Clanwilliam backed by TA Associates

• Lanas Healthcare Technologies has launched as a new global health-tech platform following its acquisition of Clanwilliam Group

• The business starts with over $120 million in revenue, more than 1.5 million clinical users, and operations in over 20 countries with 19 offices

• Backed by TA Associates, alongside Apollo, Hayfin and Arcmont, Lanas has US$115m+ of committed M&A funding

• The platform will acquire and scale proven healthcare technologies across pharmacy, primary and community care, specialists, care platforms and medical communications

Healthcare Market Activity: November 2025

Private Equity Activity

Sub-sector	Target	Acquirer / Investor	Exiting PE
Children’s Services	CF Group	Keys Group (G Square)	BCF Equity
Digital Health	Clanwilliam Group	Lanas (TA Associates)	N/A
Elderly Care	Danforth Care Homes	Welltower	Warwick Capital
Training	ABM Training	Impact Futures Group (August Equity)	N/A
Training	Learna	Reducate (All Seas)	N/A
Specialist Care	Beech Cliffe	Milewood (BC8)	N/A

Venture Capital Activity

Target	Description	Lead Investor	Investment
1nhaler	Pop-up cardboard dry powder inhaler	Archangels	£1.5m
Artios	Pipeline of DNA damage response targeting cancer drugs	SV Health Investors RA Capital Management	$115m
Emm	Menstrual cup and connected app	Lunar Ventures	$9m
PolyModels Hub	Bioprocess modelling platform used by biopharma companies	Molten Ventures	£7m
Scripta Therapeutics	Novel approach to targeting the aberrant transcriptional networks that drive disease	Oxford Science Enterprises Apollo Health Ventures	$12m
Sentinel	Digital platform for trauma prevention for frontline professionals	SFC Capital	£1.2m
T-Therapeutics	T-cell receptor therapeutics for cancer and autoimmune disease	BGF Tencent	$91m