February 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 February 2025 below.

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Notable Sector Deals: February 2025

Liva Healthcare’s acquisition of Momenta

• A complementary deal for Liva Healthcare with the acquisition of digital lifestyle service provider Momenta

• Momenta provides digital and in-person healthy lifestyle programmes to the NHS and local authorities across the UK, for the prevention of chronic conditions such as type 2 diabetes

• Liva is a digital health technology platform with human-led therapeutic intervention programmes for lifestyle-related chronic diseases

• The deal will cement Liva’s position as one of the largest providers of healthy lifestyle programmes to the NHS and follows its latest funding round led by Danish family investment group, IBL Group

Acquisition of Hospital Services by Asker Healthcare Group

• A strategic acquisition for Asker Healthcare Group, with the bolt-on of Belfast-based Hospital Services Limited (HSL)

• HSL is a specialist distributor of diagnostic medical devices to public and private hospitals across RoI, Northern Ireland, and Great Britain

• Asker Healthcare Group is a European consolidator of medical product businesses, completing 50 acquisitions since 2019

• The transaction provides a successful exit for Foresight Group, after driving HSL’s growth to revenues of c.£60m since investing in 2015

• The deal highlights continued activity in the medical products market, with large scale operators deploying buy and build strategies

Audiological Science MBO supported by YFM

• Another successful healthcare deal for YFM, backing the management buy-out of Audiological Science with a £12.4m investment

• Audiological Science provides hearing tests, hearing aids and a wider range of audiology services to both NHS and private-pay patients

• As a specialist community-based provider, the business plays a crucial role in supporting the NHS in its ambition to take low-complexity ear care out of hospital settings, reducing waiting lists and freeing up hospitals to focus on more complex cases

• The deal highlights continued private equity interest in high quality businesses providing community-based services to the NHS

Acquisition of Apple House by National Care Group

• A further acquisition for specialist care consolidator, National Care Group, with the addition of specialist accommodation provider Apple House

• Apple House operates across six locations in the Dorset area, offering personalised support for adults with learning disabilities and associated needs

• The acquisition will strengthen National Care Group’s care provision in the region and allow collaboration with its existing services

• Demand for high-quality, person-centred adult social care continues to grow, with providers focusing on expanding services to meet the needs of individuals, families, and commissioning bodies

Healthcare Market Activity: February 2025

Private Equity Activity

Sub-sector	Target	Acquirer / Investor	Exiting PE
Clinical Services	Audiological Science	YFM	N/A
Clinical Services	Momenta	Liva Healthcare(IBL Group)	N/A
Medical Equipment	HSL	Asker Healthcare	Foresight
Pharma	ALTURiX	Kelso Pharma (Apposite)	N/A

Venture Capital Activity

Target	Description	Lead Investor	Investment
CareLoop	Digital therapeutics for mental health	Praetura	£1.8m
IQ Endoscopes	Single use, flexible endoscopes	BGF	£5.2m
Level Zero Health	Remote hormone monitoring	Redalpine	£5.5m
OrganOx	Medical technology used in organ transplants	HealthQuest  Capital	$142m
Pill Connect	Device to track medicine consumption	Praetura	N/D