July 2025 – Healthcare Transactions Remain Strong Across Pharmaceuticals, Biotech, MedTech, Services, and Digital Health

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Healthcare transactions reached more than $125B across 220+ deals in July. Activity was led by large-cap M&A in Pharmaceutical Services & Distribution and Biotechnology, with additional consolidation in Medical Devices & Tools, Healthcare Services & Payers, and Digital Health & IT.

Key transactions included Sycamore Partners’ $24B take-private of Walgreens, Bain and Kohlberg’s $10B recap of PCI Pharma Services, Merck’s $10B acquisition of Verona Pharma, Sanofi’s $9.1B acquisition of Blueprint Medicines, and Becton, Dickinson and Company’s $17.5B sale of its Biosciences division to Waters. Healthcare Services & Payers recorded $13B in activity, while Digital Health & IT delivered the highest deal count with more than $10B in transactions.

The July 2025 Dakota Insights: Healthcare Transactions Report provides analysis of the major deals, sector activity, and themes shaping the healthcare investment landscape.

Download the July 2025 Healthcare Transactions Report here!

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Dakota is a financial, software, data, and media company based in Philadelphia, PA. Dakota’s flagship product, Dakota Marketplace, is a database of LPs, GPs, Private Companies, and Public Companies used by fundraising teams and deal sourcing teams to raise capital and source investment opportunities. Over 1,300 global investment firms use Dakota daily.

Written By: Dakota Research