For deal sourcers, staying current on private company activity is critical to spotting active buyers, tracking market trends, and uncovering emerging investment opportunities ahead of competitors.
In May alone, we added more than 1,400 new private company transactions, bringing the total to over 24,000 searchable deals across sectors, industries, and transaction types in Dakota Marketplace.
Inside Dakota Marketplace, you’ll find the transactions tab that provides structured, filterable data on deal types, values, and dates, while our editorial team curates daily updates through the Dakota transactions newsletter, helping you cut through the noise and focus on what matters most.
To ensure the most comprehensive coverage of private market activity, Dakota monitors over 10,000 websites including company websites, newswires, and numerous third-party news providers to capture and verify transaction data as it happens.
Below are the top 10 health care transactions.
- Transaction Date: 5/7/2026
- Industry: Pharmaceuticals
- Type: Acquisition / Merger
- Transaction Value: $4.1B
Italian pharmaceutical company Angelini Pharma has agreed to acquire Nasdaq-listed Catalyst Pharmaceuticals for $31.50 per share in cash — a 21% premium — totaling approximately $4.1 billion, with the deal expected to close in Q3 2026. The acquisition gives Angelini Pharma a significant U.S. commercial foothold in rare neurological diseases, adding Catalyst's FDA-approved portfolio including treatments for Lambert-Eaton myasthenic syndrome, Duchenne Muscular Dystrophy, and epilepsy.
- Transaction Date: 5/18/2026
- Industry: Biotechnology
- Type: Acquisition / Merger
- Transaction Value: $2.9B
Neurocrine Biosciences completed its $2.9 billion acquisition of Soleno Therapeutics, adding VYKAT XR — the first and only FDA-approved treatment for hyperphagia in Prader-Willi syndrome patients — to its rare disease portfolio alongside INGREZZA and CRENESSITY. The deal strengthens Neurocrine's position at the intersection of neuroscience and endocrinology, with VYKAT XR already generating $190 million in its first year on the market and patent protection extending into the mid-2040s.
- Transaction Date: 5/6/2026
- Industry: Biotechnology
- Type: Acquisition / Merger
- Transaction Value: $2.5B
Bayer has agreed to acquire Perfuse Therapeutics for up to $2.45 billion ($300 million upfront plus milestones), gaining full rights to PER-001, a Phase II small molecule treatment targeting glaucoma and diabetic retinopathy — two leading causes of blindness affecting a combined 200+ million people globally with significant unmet need. The deal bolsters Bayer's ophthalmology pipeline with a potentially first-of-its-kind neuroprotective approach that addresses disease progression independent of existing intraocular pressure-lowering therapies.
- Transaction Date: 5/25/2026
- Industry: Health Care Providers & Services
- Type: Acquisition / Merger
- Transaction Value: $2.4B
Permira has agreed to sell I-MED Radiology Network — Australia's largest diagnostic imaging provider with 215 clinics and 7 million+ patient procedures annually — to Jardine Matheson for AUS$3.4 billion. Since acquiring I-MED in 2018, Permira oversaw significant network expansion and AI transformation, including a joint venture with Harrison.ai to develop what it describes as the world's only comprehensive medical imaging AI platform.
- Transaction Date: 5/3/2026
- Industry: Biotechnology
- Type: Acquisition / Merger
- Transaction Value: $2.2B
UCB has agreed to acquire Candid Therapeutics for up to $2.2 billion ($2 billion upfront plus $200 million in potential milestones), gaining cizutamig — a clinical-stage bispecific antibody targeting plasma cells and T-cells that is being studied across 10+ autoimmune indications as a potential best-in-class therapy for immune reset. The deal expands UCB's next-generation immunology pipeline with a novel T-cell engager platform designed to achieve deep, durable depletion of pathogenic B-cell populations in severe autoimmune diseases.
- Transaction Date: 5/12/2026
- Industry: Biotechnology
- Type: Venture
- Transaction Value: $2.1B
Isomorphic Labs, the AI-first drug design company founded by DeepMind's Demis Hassabis, raised $2.1 billion in Series B funding led by Thrive Capital, with participation from Alphabet, GV, Temasek, MGX, CapitalG, and the UK Sovereign AI Fund. The capital will accelerate development of its AI drug design engine (IsoDDE) and expand its therapeutic pipeline toward the clinic, building on existing partnerships with Novartis, Lilly, and Johnson & Johnson.
- Transaction Date: 5/26/2026
- Industry: Biotechnology
- Type: Acquisition / Merger
- Transaction Value: $1.6B
Eli Lilly announced three simultaneous acquisitions totaling up to $3.83 billion to build an infectious disease portfolio — Curevo (up to $1.5B) for a better-tolerated shingles vaccine, Vaccine Company (up to $1.55B) for an Epstein-Barr virus vaccine linked to MS and cancer prevention, and LimmaTech Biologics (up to $780M) for vaccines targeting antibiotic-resistant bacterial pathogens including Staph aureus and gonorrhea. The deals reflect Lilly's strategy of targeting infections upstream to prevent downstream neurological, oncological, and chronic disease consequences.
- Transaction Date: 5/18/2026
- Industry: Health Care Equipment & Supplies
- Type: Growth Equity
- Transaction Value: $1.5B
Boston Scientific has invested $1.5 billion for a ~34% equity stake in MiRus LLC, gaining an exclusive option to acquire its SIEGEL TAVR system — a first-of-its-kind nickel-free, balloon-expandable transcatheter aortic valve built on a proprietary rhenium alloy frame — for an additional $3 billion upon hitting clinical and regulatory milestones. The SIEGEL valve's smaller delivery sheath, precise placement design, and currently enrolling STAR pivotal trial position it as a potentially differentiated entrant in the fast-growing aortic stenosis treatment market.
- Transaction Date: 5/26/2026
- Industry: Biotechnology
- Type: Acquisition / Merger
- Transaction Value: $1.5B
Eli Lilly announced agreements to acquire three infectious disease companies — Curevo (up to $1.5B), LimmaTech Biologics (up to $780M), and Vaccine Company (up to $1.55B) — totaling up to $3.83 billion to build a vaccine-focused pipeline. The deals target viral pathogens linked to neurological and oncological risk, as well as antibiotic-resistant bacterial infections, reflecting Lilly's strategy of preventing disease upstream rather than treating its downstream consequences.
- Transaction Date: 5/1/2026
- Industry: Biotechnology
- Type: Buyout / Private Equity
- Transaction Value: $1.1B
Healthcare-focused private equity firm ARCHIMED has agreed to acquire Esperion Therapeutics for up to ~$1.1 billion, offering shareholders $3.16 per share upfront — a 58% premium — plus contingent value rights tied to future sales milestones for its cholesterol-lowering products NEXLETOL and NEXLIZET. The deal, expected to close in Q3 2026, takes Esperion private and positions it to advance its cardiometabolic portfolio with ARCHIMED's backing.
At Dakota, we understand how important it is to stay current on deal activity as it happens. That’s why our editorial team continuously monitors the news for real-time updates on platform investments, add-ons, divestitures, and more to deliver daily highlights straight to your inbox through our transactions newsletter.
Inside Dakota Marketplace, the transactions tab provides structured, filterable data with deal dates, types, sectors, and financials, allowing you to build a customized feed that aligns with your focus areas.
Whether you're evaluating a new investment opportunity or tracking trends within a target sector, Dakota Marketplace helps you cut through the noise and focus on what matters most.
For more information on these transactions and a deeper dive into their industries and sub-industries, book a demo of Dakota Marketplace.
